Non-Landed Private Residential Rents Decrease by 0.7% and HDB Rents Increase by 0.3% in October 2018

A. Non-Landed Private Residential Rental Market
1. Non-Landed Private Residential rents decrease by 0.7% in October 2018. Non-Landed Private Residential rents decrease by 0.7% in October 2018 compared to September 2018. In individual sectors, CCR, RCR and OCR rents decreased by 1.7%, 0.3% and 0.4% respectively.

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

•  Year-on-year, rents in October 2018 decreased by 0.1% from October 2017.
•  Rents in October 2018 were down by 20.0% from its peak in January 2013.
•  In October 2018, RCR and OCR recorded a year-on-year rent increase of 0.3% and 0.8%, while CCR posted a 1.9% decrease from October 2017.
•  Monthly change in index value for September 2018 was revised to -0.5% from -0.4%.

 

2. Non-Landed Private Residential rental volume decreases by 1.7%. An estimated 4,207 Non-Landed Private Residential units were rented in October 2018. This represents a 1.7% decrease from 4,280 units rented in September 2018.

•  Year-on-year, rental volume in October 2018 was 0.5% lower than 4,229 units rented in October 2017.

B. HDB Rental Market
1. HDB rents increase by 0.3% in October 2018. HDB rents increase by 0.3% in October 2018 compared to September 2018. HDB 3 Rooms, HDB 4 Rooms and HDB 5 Rooms recorded a rent increase of 1.0%, 0.2% and 0.1% respectively, while HDB Executive rents decreased by 0.6%. Rents in both Mature Estates and Non-mature Estates increased by 0.1% and 0.6% respectively as compared to September 2018.

           According to SRX Property Price Index for HDB Rentals:

•  Year-on-year, rents in October 2018 decreased by 1.4% from October 2017.
•  Rents in October 2018 were down by 15.4% from its peak in August 2013.
•  In October 2018, both Mature Estates and Non-mature Estates recorded a year-on-year rent decrease of 1.6% and 1.1% respectively from October 2017.
•  Monthly change in index value for September 2018 was revised to -0.6% from -0.5%.

 

2. HDB rental volume increases by 10.2%. An estimated 1,937 HDB flats were rented in October 2018. This represents a 10.2% increase from 1,757 units rented inSeptember 2018.

•  Year-on-year, rental volume in October 2018 was 8.9% higher than 1,778 units rented in October 2017.