Non-Landed Private Rents decrease by 0.8%, HDB Rents increase by 0.7% in May 2017

 A. Non-Landed Private Residential Rental Market

1. Private rents decrease by 0.8% in May. According to SRX Property Price Index for Non-landed Private Residential Rentals, rents decreased by 0.8% in May 2017 compared to April 2017. Non-Landed Private Residential units rents in CCR, RCR and OCR decreased by 1.8%, 0.5% and 0.4% respectively.

According to SRX Property Price Index for Non-landed Private Rentals:

• Year-on-year, rents in May 2017 were down by 3.9% from May 2016. In individual sectors, CCR, RCR and OCR posted 3.7%, 3.2% and 4.8% year-on-year decrease in price, respectively.
• Rents in May 2017 were 19.7% down compared to its peak in January 2013.
• Price index is down 1.1% on year-to-date basis from January 2017.
• Price change was revised from 0.0% to 0.1% in April 2017.

• Year-on-year, rental volume in May 2017 was 6.1% higher than 4,381 units rented in May 2016.

According to SRX Property Price Index for HDB Rentals:

• Year-on-year, rents in May 2017 were down by 3.7% from May 2016.
• Rents in May 2017 were down 13.0% compared to its peak in August 2013.
• Year-to-date, rental price index has declined by 0.4% from January 2017.
• Price change was revised from 0.1% to 0% in April 2017. 

According to SRX Property Price Sub-Indices for HDB Rentals in Mature and Non-mature Estates:

• Rents in Mature Estate and Non-mature Estates increased by 1.2% and 0.1% respectively.
• Year-on-year, rents of Mature Estates in May 2017 slipped 2.8% from May 2016.
• Year-on-year, rents of Non-mature Estates in May 2017 dropped 4.5% from May 2016.

2. HDB rental volume remains almost unchanged. According to SRX Property, an estimated 1,873 HDB flats were rented in May 2017, close to the 1,872 units rented in April 2017.

 

• Year-on-year, rental volume in May 2017 decreased by 3.5% from May 2016.