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Property Data10 Jan 2018

Non-Landed Private Rents decrease by 0.3%, HDB Rents decrease by 0.6% in December 2017

A. Non-Landed Private Residential Rental Market

1. Private rents decrease by 0.3% in December. 
According to SRX Property Price Index for Non-landed Private Residential Rentals, rents decreased by 0.3% in December 2017 compared to November 2017. Non-Landed Private Residential units rents in CCR and RCR decreased by 0.7% and 1.2% respectively, while those in OCR increased by 0.6%.

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

  • Year-on-year, rents in December 2017 were down by 0.5% from December 2016. In individual sectors, CCR posted a 0.1% year-on-year increase in price, while those in RCR and OCR posted a 0.4% and 1.1% decrease respectively.
  • Rents in December 2017 were 20.2% down compared to its peak in January 2013.
  • Price change was revised from -0.3% to 0.0% in November 2017.

2. Rental volume decreases by 20.2%.
 
According to SRX Property, an estimated 3,188 Non-landed Private Residential units were rented in December 2017. This represented a 20.2% decrease from 3,995 units rented in November 2017.

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  • Year-on-year, rental volume in December 2017 was 15.3% lower than 3,762 units rented in December 2016.

B. HDB Rental Market

1. HDB rents decrease by 0.6%. 
According to SRX Property Price Index for HDB Rentals, rents decreased by 0.6% from November 2017 to December 2017. HDB 3 Rooms and HDB 4 Rooms decreased by 0.4% and 1.6% respectively, while HDB Executives increased by 2.0%. HDB 5 Rooms remained unchanged.

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According to SRX Property Price Index for HDB Rentals:

  • Year-on-year, rents in December 2017 were down by 3.5% from December 2016.
  • Rents in December 2017 were down 15.2% compared to its peak in August 2013.
  • Price change was revised from -0.5% to -0.6% in November 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 0.3% and 0.8% respectively.
  • Year-on-year, rents of Mature Estates in December 2017 slipped 2.7% from December 2016.
  • Year-on-year, rents of Non-mature Estates in December 2017 dropped 4.4% from December 2016.

2. HDB rental volume decreases by 23.1%. 
According to SRX Property, an estimated 1,414 HDB flats were rented in December 2017.  This represented a 23.1% decrease from 1,838 units rented in November 2017.

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  • Year-on-year, rental volume in December 2017 decreased by 21.2% from December 2016.


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