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Property Data10 Oct 2018

Non-Landed Private Residential Rents Decrease by 0.4% and HDB Rents Decrease by 0.5% in September 2018

A. Non-Landed Private Residential Rental Market

1. Non-Landed Private Residential rents decrease by 0.4% in September 2018.
 Non-Landed Private Residential rents decrease by 0.4% in September 2018 compared to August 2018. In individual sectors, CCR and OCR rents decreased by 0.5% and 0.7% respectively, while RCR 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 September 2018 decreased by 0.1% from September 2017.
  •  Rents in September 2018 were down by 19.4% from its peak in January 2013.
  •  In September 2018, RCR and OCR recorded a year-on-year rent increase of 0.5% and 0.3%, while CCR posted a 1.6% decrease from September 2017.
  •  Monthly change in index value for August 2018 was revised to 0.0% from -0.1%.
  •  Quarter-on-quarter, rents have decreased by 0.1% from Q2 2018. Quarter-on-quarter calculation is based on the index average of three months in Third Quarter of 2018 and that of the preceding quarter.

2. Non-Landed Private Residential rental volume decreases by 14.8%. An estimated 4,199 Non-Landed Private Residential units were rented in September 2018. This represents a 14.8% decrease from 4,929 units rented in August 2018.

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  •  Year-on-year, rental volume in September 2018 was 1.8% higher than 4,126 units rented in September 2017.


B. HDB Rental Market

1. HDB rents decrease by 0.5% in September 2018. HDB rents decrease by 0.5% in September 2018 compared to August 2018. HDB 5 Rooms recorded a rent increase of 0.1%, while HDB 3 Rooms, HDB 4 Rooms and HDB Executive rents decreased by 1.2%, 0.3% and 0.6% respectively. Rents in both Mature Estates and Non-mature Estates decreased by 0.9% and 0.1% respectively as compared to August 2018.

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According to SRX Property Price Index for HDB Rentals:
  •  Year-on-year, rents in September 2018 decreased by 1.0% from September 2017.
  •  Rents in September 2018 were down by 15.6% from its peak in August 2013.
  •  In September 2018, both Mature Estates and Non-mature Estates recorded a year-on-year rent decrease of 0.9% and 1.2% respectively from September 2017.
  •  Monthly change in index value for August 2018 was revised to 0.3% from 0.1%.
  •  Quarter-on-quarter, rents have increased by 0.1% from Q2 2018. Quarter-on-quarter calculation is based on the index average of three months in Third Quarter of 2018 and that of the preceding quarter.
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2. HDB rental volume decreases by 3.8%.
 An estimated 1,690 HDB flats were rented in September 2018. This represents a 3.8% decrease from 1,757 units rented in August 2018.

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  •  Year-on-year, rental volume in September 2018 was 0.9% lower than 1,705 units rented in September 2017.
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