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Property Data09 Jan 2019

Non-Landed Private Residential Rents Decrease by 0.2% and HDB Rents Increase by 0.6% in December 2018

A. Non-Landed Private Residential Rental Market
1. Non-Landed Private Residential rents decrease by 0.2% in December 2018. Non-Landed Private Residential rents decrease by 0.2% in December 2018 compared to November 2018. In individual sectors, CCR and OCR recorded a rent increase of 0.3% and 0.1% respectively, while RCR rents decreased by 0.9%.

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According to SRX Property Price Index for Non-Landed Private Residential Rentals:
  •  Year-on-year, rents in December 2018 increased by 0.1% from December 2017.
  •  Rents in December 2018 were down by 19.8% from its peak in January 2013.
  •  In December 2018, RCR and OCR recorded a year-on-year rent increase of 2.1% and 0.7%, while CCR posted a 3.1% decrease from December 2017.
  •  Monthly change in index value for November 2018 remained unchanged at 0.6%.
2. Non-Landed Private Residential rental volume decreases by 9.4%. An estimated 3,450 Non-Landed Private Residential units were rented in December 2018. This represents a 9.4% decrease from 3,810 units rented in November 2018.

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  •  Year-on-year, rental volume in December 2018 was 8.5% lower than 3,771 units rented in December 2017.

B. HDB Rental Market
1. HDB rents increase by 0.6% in December 2018. HDB rents increase by 0.6% in December 2018 compared to November 2018. HDB 3 Rooms, HDB 4 Rooms and HDB Executive recorded a rent increase of 0.5%, 0.2% and 4.0% respectively, while HDB 5 Rooms rents decreased by 0.2%. Rents in Mature Estates increased by 1.0% while those in Non-mature Estates remained unchanged at 0.0% as compared to November 2018.

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According to SRX Property Price Index for HDB Rentals:

  •  Year-on-year, rents in December 2018 decreased by 0.4% from December 2017.
  •  Rents in December 2018 were down by 15.4% from its peak in August 2013.
  •  In December 2018, both Mature Estates and Non-mature Estates recorded a year-on-year rent decrease of 0.3% and 0.5% respectively from December 2017.
  •  Monthly change in index value for November 2018 remained unchanged at -0.5%.
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2. HDB rental volume decreases by 8.9%. An estimated 1,601 HDB flats were rented in December 2018. This represents an 8.9% decrease from 1,757 units rented in November 2018.

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  •  Year-on-year, rental volume in December 2018 was 4.2% lower than 1,671 units rented in December 2017.

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ON TRACK
Property Data 09 January
Non-Landed Private Residential Rents Decrease by 0.2% and HDB Rents Increase by 0.6% in December 2018
Non-Landed Private Residential Rents Decreased but HDB Rents Increased in December 2018
Property Data 08 January
Non-Landed Private Residential Resale Prices Decrease by 0.8% and Resale Volume Decreases by 24.0% in December 2018
Non-Landed Private Residential Resale Prices and Volume Decreased in December 2018
Property Data 12 December
Non-Landed Private Residential Rents Increase by 0.6% and HDB Rents Decrease by 0.5% in November 2018
Non-Landed Private Residential Rents Increased but HDB Rents Decreased in November 2018

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