Non-Landed Private Rents increase by 0.2%, HDB Rents decrease by 0.1% in July 2017

A. Non-Landed Private Residential Rental Market

1. Private rents increase by 0.2% in July. According to SRX Property Price Index for Non-landed Private Residential Rentals, rents increased by 0.2% in July 2017 compared to June 2017. Non-Landed Private Residential units rents in CCR and OCR increased by 0.3% and 0.4% respectively, while that in RCR decreased by 0.1%.





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

• Year-on-year, rents in July 2017 were down by 2.7% from July 2016. In individual sectors, CCR, RCR and OCR posted 1.9%, 3.8% and 2.5% year-on-year decrease in price, respectively.
•  Rents in July 2017 were 18.9% down compared to its peak in January 2013.
•  Price index is down 0.1% on year-to-date basis from January 2017.
•  Price change was revised from 0.5% to 0.6% in June 2017.

2. Rental volume increases by 11.8%. According to SRX Property, an estimated 4,834 Non-landed Private Residential units were rented in July 2017. This represented an 11.8% increase from 4,322 units rented in June 2017.

•  Year-on-year, rental volume in July 2017 was 4.5% higher than 4,626 units rented in July 2016.

B. HDB Rental Market

1. HDB rents decrease by 0.1%. According to SRX Property Price Index for HDB Rentals, rents decreased by 0.1% from June 2017 to July 2017. HDB 3 Rooms increased by 0.7%, while HDB 4 rooms, 5 rooms and Executive decreased by 0.7%, 0.5% and 0.6% respectively.

According to SRX Property Price Index for HDB Rentals:

•  Year-on-year, rents in July 2017 were down by 4.2% from July 2016.
•  Rents in July 2017 were down 13.6% compared to its peak in August 2013.
•  Year-to-date, rental price index has declined by 1.1% from January 2017.
•  Price change was revised from -0.6% to -0.8% in June 2017. 

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

•  Rents in Mature Estate decreased by 0.2%, while that in Non-mature Estates increased by 0.1%.
•  Year-on-year, rents of Mature Estates in July 2017 slipped 4.1% from July 2016.
•  Year-on-year, rents of Non-mature Estates in July 2017 dropped 4.4% from July 2016.

2. HDB rental volume increases by 6.7%. According to SRX Property, an estimated 1,835 HDB flats were rented in July 2017.  This represented an 6.7% increase from 1,720 units rented in June 2017.

•  Year-on-year, rental volume in July 2017 increased by 1.2% from July 2016.