Rental Market Remains Stagnant in February 2019 for Non-Landed Private Residential and HDB. Volume in Both Markets Decreased. | Singapore Property News

Rental Market Remains Stagnant in February 2019 for Non-Landed Private Residential and HDB. Volume in Both Markets Decreased.

13 Mar 2019
Property Data
A. Non-Landed Private Residential Rental Market
1. Non-Landed Private Residential rents unchanged from January 2019.
 OCR recorded a rent increase of 0.2%, while CCR and RCR rents decreased by 0.1% and 0.4% respectively.

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

  •  Year-on-year, rents increased by 1.0% from February 2018.
  •  Rents were down 18.0% from the peak in January 2013.
  •  RCR and OCR recorded a year-on-year rent increase of 1.0% and 2.3%, while CCR posted a 1.0% decrease from February 2018.
  •  Monthly change in index value for January 2019 was revised to 2.0% from 1.9%.

2. Non-Landed Private Residential rental volume decreases. An estimated 3,597 Non-Landed Private Residential units were rented in February 2019. This represents a 22.1% decrease from 4,618 units rented in January 2019.

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  •  Year-on-year, rental volume was 6.8% lower than the 3,860 units rented in February 2018.

B. HDB Rental Market
1. HDB rents unchanged from January 2019. In the respective HDB room types, 3 Rooms and 5 Rooms recorded rent increases of 0.8% and 0.1%, while 4 Rooms and Executive rents decreased by 0.3% and 1.8%. Rents in Mature Estates decreased by 0.9% while those in Non-Mature Estates increased by 1.1% as compared to January 2019.

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According to the SRX Property Price Index for HDB Rentals:

  •  Year-on-year, rents decreased by 0.3% from February 2018.
  •  Rents were down by 15.3% from its peak in August 2013.
  •  Mature Estates recorded a year-on-year rent decrease of 0.7%, while Non-Mature Estates posted an increase of 0.1% from February 2018.
  •  Monthly change in index value for January 2019 was revised to 0.2% from 0.3%.
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2. HDB rental volume decreases. An estimated 1,388 HDB flats were rented in February 2019. This represents a 28.5% decrease from the 1,940 units rented inJanuary 2019.

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  •  Year-on-year, rental volume was 9.6% lower than the 1,536 units rented in February 2018.


 

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