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Property Data11 Oct 2017

Non-Landed Private Rents decrease by 0.1%, HDB Rents decrease by 0.9% in September 2017

A. Non-Landed Private Residential Rental Market

1. Private rents decrease by 0.1% in September. 
According to SRX Property Price Index for Non-landed Private Residential Rentals, rents decreased by 0.1% in September 2017 compared to August 2017. Non-Landed Private Residential units rents in CCR and OCR increased by 0.4% and 0.8% respectively, while those in RCR decreased by 1.7%.

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According to SRX Property Price Index for Non-landed Private Rentals:
  •  Year-on-year, rents in September 2017 were down by 2.0% from September 2016. In individual sectors, CCR, RCR and OCR posted 1.3%, 4.3% and 0.8% year-on-year decrease in price, respectively.
  •  Rents in September 2017 were 19.2% down compared to its peak in January 2013.
  •  Price index is down 0.4% on year-to-date basis from January 2017.
  •  Price change remained unchanged at -0.4% in August 2017.

2. Rental volume decreases by 12.6%.
 According to SRX Property, an estimated 3,799 Non-landed Private Residential units were rented in September 2017. This represented a 12.6% decrease from 4,345 units rented in August 2017.

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  •  Year-on-year, rental volume in September 2017 was 1.2% lower than 3,847 units rented in September 2016.


B. HDB Rental Market

1. HDB rents decrease by 0.9%. 
According to SRX Property Price Index for HDB Rentals, rents decreased by 0.9% from August 2017 to September 2017. HDB 3 Rooms, HDB 4 Rooms, HDB 5 Rooms and HDB Executives decreased by 0.9%, 0.8%, 0.9% and 2.6% respectively.

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According to SRX Property Price Index for HDB Rentals:

  •  Year-on-year, rents in September 2017 were down by 4.1% from September 2016.
  •  Rents in September 2017 were down 14.7% compared to its peak in August 2013.
  •  Year-to-date, rental price index has declined by 2.3% from January 2017.
  •  Price change was revised from 0.0% to -0.2% in August 2017. 


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

  •  Rents in Mature Estate and Non-mature Estates decreased by 0.9% and 1.0% respectively.
  •  Year-on-year, rents of Mature Estates in September 2017 slipped 4.1% from September 2016.
  •  Year-on-year, rents of Non-mature Estates in September 2017 dropped 4.1% from September 2016.

 2. HDB rental volume decreases by 1.6%. According to SRX Property, an estimated 1,625 HDB flats were rented in September 2017.  This represented an 1.6% decrease from 1,652 units rented in August 2017.

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  •  Year-on-year, rental volume in September 2017 decreased by 1.6% from September 2016.
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