A. Non-Landed Private Residential Rental Market
1. Private rents decrease by 0.3% in November. According to SRX Property Price Index for Non-landed Private Residential Rentals, rents decreased by 0.3% in November 2017 compared to October 2017. Non-Landed Private Residential units rents in CCR increased by 0.8%, while those in RCR and OCR decreased by 0.5% and 1.0% respectively.
According to SRX Property Price Index for Non-landed Private Rentals:
- Year-on-year, rents in November 2017 were down by 1.2% from November 2016. In individual sectors, CCR, RCR and OCR posted 0.2%, 1.9% and 1.6% year-on-year decrease in price, respectively.
- Rents in November 2017 were 19.8% down compared to its peak in January 2013.
- Price index is down 1.2% on year-to-date basis from January 2017.
- Price change was revised from -0.7% to -0.5% in October 2017.
2. Rental volume decreases by 0.2%. According to SRX Property, an estimated 3,977 Non-landed Private Residential units were rented in November 2017. This represented a 0.2% decrease from 3,983 units rented in October 2017.
- Year-on-year, rental volume in November 2017 was 0.3% higher than 3,966 units rented in November 2016.
B. HDB Rental Market
1. HDB rents decrease by 0.5%. According to SRX Property Price Index for HDB Rentals, rents decreased by 0.5% from October 2017 to November 2017. HDB 3 Rooms and HDB 5 Rooms decreased by 1.5% and 0.3% respectively, while HDB Executives increased by 0.2%. HDB 4 Rooms remained unchanged.
According to SRX Property Price Index for HDB Rentals:
- Year-on-year, rents in November 2017 were down by 2.9% from November 2016.
- Rents in November 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 0.3% to 0.5% in October 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 decreased by 0.7% and 0.2% respectively.
- Year-on-year, rents of Mature Estates in November 2017 slipped 2.4% from November 2016.
- Year-on-year, rents of Non-mature Estates in November 2017 dropped 3.5% from November 2016.
2. HDB rental volume increases by 13.8%. According to SRX Property, an estimated 1,877 HDB flats were rented in November 2017. This represented a 13.8% increase from 1,649 units rented in October 2017.
- Year-on-year, rental volume in November 2017 increased by 0.1% from November 2016.