Non-Landed Private Residential Rents Increase by 1.9% and HDB Rents Increase by 0.3% in January 2019

A. Non-Landed Private Residential Rental Market

1. Non-Landed Private Residential rents increase by 1.9% in January 2019. Non-Landed Private Residential rents increase by 1.9% in January 2019 compared to December 2018. In individual sectors, CCR, RCR and OCR recorded a rent increase of 1.1%, 2.3% and 2.1% respectively.




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

•  Year-on-year, rental volume in January 2019 was 4.5% lower than 4,579 units rented in January 2018.

B. HDB Rental Market

1. HDB rents increase by 0.3% in January 2019. HDB rents increase by 0.3% in January 2019 compared to December 2018. HDB 4 Rooms, HDB 5 Rooms and HDB Executive recorded a rent increase of 0.3%, 1.2% and 0.7% respectively, while HDB 3 Rooms rents decreased by 0.8%. Rents in Mature Estates increased by 0.6% while those in Non-mature Estates decreased by 0.1% as compared to December 2018.

According to SRX Property Price Index for HDB Rentals:

•  Year-on-year, rents in January 2019 increased by 0.3% from January 2018.
•  Rents in January 2019 were down by 15.1% from its peak in August 2013.
•  In January 2019, Mature Estates recorded a year-on-year rent increase of 1.5%, while Non-mature Estates posted a decrease of 1.1% from January 2018.
•  Monthly change in index value for December 2018 remained unchanged at 0.6%.

2. HDB rental volume increases by 7.2%. An estimated 1,864 HDB flats were rented in January 2019. This represents a 7.2% increase from 1,738 units rented in December 2018.

•  Year-on-year, rental volume in January 2019 was 3.8% lower than 1,937 units rented in January 2018.