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Property Data12 Sep 2018

Non-Landed Private Residential Rents Decrease by 0.1% and HDB Rents Increase by 0.1% in August 2018

A. Non-Landed Private Residential Rental Market

1. Non-Landed Private Residential rents decrease by 0.1% in August 2018. Non-Landed Private Residential rents decrease by 0.1% in August 2018 compared to July 2018. In individual sectors, CCR recorded a rent increase of 0.4%, while RCR rents decreased by 0.4%, and OCR rents remained unchanged at 0.0%.

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

  •  Year-on-year, rents in August 2018 remained unchanged at 0.0% from August 2017.
  •  Rents in August 2018 were down by 19.1% from its peak in January 2013.
  •  In August 2018, OCR recorded a year-on-year rent increase of 1.4%, while CCR and RCR posted a 1.0% and 1.2% decrease respectively from August 2017.
  •  Monthly change in index value for July 2018 remained unchanged at 0.0%.

 

2. Non-Landed Private Residential rental volume decreases by 4.7%. An estimated 4,935 Non-Landed Private Residential units were rented in August 2018. This represents a 4.7% decrease from 5,176 units rented in July 2018.

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  •  Year-on-year, rental volume in August 2018 was 7.1% higher than 4,609 units rented in August 2017.

B. HDB Rental Market

1. HDB rents increase by 0.1% in August 2018.
 HDB rents increase by 0.1% in August 2018 compared to July 2018. HDB 3 Rooms, HDB 4 Rooms and HDB Executive recorded a rent increase of 0.2%, 0.2% and 1.8% respectively, while HDB 5 Rooms rents decreased by 0.1%. Rents in both Mature Estates and Non-mature Estates increased by 0.2% and 0.1% respectively as compared to July 2018.

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According to SRX Property Price Index for HDB Rentals:
  •  Year-on-year, rents in August 2018 decreased by 1.7% from August 2017.
  •  Rents in August 2018 were down by 15.3% from its peak in August 2013.
  •  In August 2018, both Mature Estates and Non-mature Estates recorded a year-on-year rent decrease of 1.2% and 2.3% respectively from August 2017.
  •  Monthly change in index value for July 2018 was revised to 0.5% from 1.0%.

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2. HDB rental volume decreases by 8.6%.
 An estimated 1,744 HDB flats were rented in August 2018. This represents a 8.6% decrease from 1,909 units rented in July 2018.

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  •  Year-on-year, rental volume in August 2018 was 1.9% lower than 1,778 units rented in August 2017.
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