Non-Landed Private Rents decrease by 0.7%, HDB Rents increase by 0.3% in October 2017 | Singapore Property News

Non-Landed Private Rents decrease by 0.7%, HDB Rents increase by 0.3% in October 2017

15 Nov 2017
Property Data
A. Non-Landed Private Residential Rental Market

1. Private rents decrease by 0.7% in October. 
According to SRX Property Price Index for Non-landed Private Residential Rentals, rents decreased by 0.7% in October 2017 compared to September 2017. Non-Landed Private Residential units rents in CCR, RCR and OCR decreased by 1.4%, 0.3% and 0.3% respectively.

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

  • Year-on-year, rents in October 2017 were down by 1.8% from October 2016. In individual sectors, CCR, RCR and OCR posted 1.9%, 2.5% and 1.3% year-on-year decrease in price, respectively.
  •  Rents in October 2017 were 19.7% down compared to its peak in January 2013.
  •  Price index is down 1.0% on year-to-date basis from January 2017.
  •  Price change remained unchanged at -0.1% in September 2017.

2. Rental volume increases by 5.8%. According to SRX Property, an estimated 4,169 Non-landed Private Residential units were rented in October 2017. This represented a 5.8% increase from 3,942 units rented in September 2017.

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  •  Year-on-year, rental volume in October 2017 was 4.0% higher than 4,010 units rented in October 2016.

B. HDB Rental Market

1. HDB rents increase by 0.3%. According to SRX Property Price Index for HDB Rentals, rents increased by 0.3% from September 2017 to October 2017. HDB 3 Rooms, HDB 4 Rooms and HDB Executives increased by 0.3%, 1.0% and 1.0% respectively, while HDB 5 Rooms decreased by 0.5%.

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According to SRX Property Price Index for HDB Rentals:

  •  Year-on-year, rents in October 2017 were down by 3.5% from October 2016.
  •  Rents in October 2017 were down 14.5% compared to its peak in August 2013.
  •  Year-to-date, rental price index has declined by 2.1% from January 2017.
  •  Price change was revised from -0.9% to -1.0% in September 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 remained unchanged, while those in Non-mature Estates increased by 0.6%.
  •  Year-on-year, rents of Mature Estates in October 2017 slipped 3.5% from October 2016.
  •  Year-on-year, rents of Non-mature Estates in October 2017 dropped 3.5% from October 2016.

2. HDB rental volume increases by 6.3%. According to SRX Property, an estimated 1,713 HDB flats were rented in October 2017.  This represented a 6.3% increase from 1,611 units rented in September 2017.

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  •  Year-on-year, rental volume in October 2017 decreased by 9.0% from October 2016.
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