Non-Landed Private Rents decrease by 0.2%, HDB Rents decrease by 0.8% in March 2018

A. Non-Landed Private Residential Rental Market

1. Private rents decrease by 0.2% in March. According to SRX Property Price Index for Non-landed Private Residential Rentals, rents decreased by 0.2% in March 2018 compared to February 2018. Non-Landed Private Residential units rents in CCR and OCR decreased by 0.4% and 0.5% respectively, while those in RCR increased by 0.3%.

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

•  Year-on-year, rents in March 2018 increased by 0.2% from March 2017. In individual sectors, CCR and RCR posted a 1.5% and 1.6% increase respectively, while those in OCR posted a 2.0% decrease.
•  Rents in March 2018 were 18.9% down compared to its peak in January 2013.
•  Price change remain unchanged at 1.0% in February 2018.
•  Quarter-on-quarter, rents have increased by 1.0% from Q4 2017. Quarter-on-quarter is based on the index average of first three months of 2018 and that of the preceding quarter.

2. Rental volume increases by 28.3%. According to SRX Property, an estimated 4,580 Non-landed Private Residential units were rented in March 2018. This represented a 28.3% increase from 3,569 units rented in February 2018.

•  Year-on-year, rental volume in March 2018 was 4.4% lower than 4,792 units rented in March 2017.

B. HDB Rental Market

1. HDB rents decrease by 0.8%. According to SRX Property Price Index for HDB Rentals, rents decreased by 0.8% from February 2018 to March 2018. HDB 3 Rooms, HDB 4 Rooms and HDB 5 Rooms decreased by 0.7%, 1.4% and 0.9% respectively, while HDB Executives increased by 2.5%.





According to SRX Property Price Index for HDB Rentals:

•  Year-on-year, rents in March 2018 were down by 2.4% from March 2017.
•  Rents in March 2018 were down 15.6% compared to its peak in August 2013.
•  Price change remained unchanged at 0.5% in February 2018. 
•  Quarter-on-quarter, rents have decreased by 0.7% from Q4 2017. Quarter-on-quarter is based on the index average of first three months of 2018 and that of the preceding quarter.

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

•  Rents in Mature and Non-mature Estates decreased by 1.1% and 0.5% respectively.
•  Year-on-year, rents of Mature Estates in March 2018 slipped 2.0% from March 2017.
•  Year-on-year, rents of Non-mature Estates in March 2018 dropped 2.8% from March 2017.

2. HDB rental volume increases by 45.3%. According to SRX Property, an estimated 2,036 HDB flats were rented in March 2018.  This represented a 45.3% increase from 1,401 units rented in February 2018.

•  Year-on-year, rental volume in March 2018 decreased by 3.6% from March 2017.