Non-Landed Private Residential Rents Rise 0.6% in April 2019 and Up 2.4% Year-on-Year. HDB Rental Prices Down 0.1% in April But Up 0.3% Year-on-Year

A. Non-Landed Private Residential Rental Market
1. Overall rents increase by 0.6% from March 2019. CCR, RCR and OCR increased 0.9%, 1.0% and 0.1% respectively.

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

•  Year-on-year, rents increased by 2.4%
•  Rents were down by 17.2% from the peak in January 2013
•  All regions rentals increase year-on-year. CCR by 2.8%, RCR by 2.3% and OCR by 2.0%

2. Volume decreases by 5.0% from March 2019. An estimated 4,970 units were rented in April 2019 as compared to 5,229 units in the preceding month.

•  Year-on-year, rental volume in April 2019 was 3.6% lower than 5,157 rental units recorded in April 2018

B. HDB Rental Market
1. HDB rents decrease 0.1% from March 2019. 3 Rooms and 4 Rooms rent fell by 0.4% and 0.3% respectively, while 5 Rooms rose by 0.5%. Executive rents stagnated. Mature Estates rents decreased by 0.4% while those in Non-Mature Estates increased by 0.2% as compared to March 2019.

    According to the SRX Property Price Index for HDB Rentals:

•  Year-on-year, rents increased by 0.3%
•  Rents were down by 15.1% from the peak in August 2013.
•  Mature Estates rentals increased by 0.6%, while Non-Mature Estates decreased by 0.1% year-on-year
•  Monthly change in index value for March 2019 was revised to 0.2% from 0.3%.

2. HDB rental volume decreases  by 11.0%. An estimated 2,006 HDB flats were rented in April 2019 versus 2,254 units in March 2019.

•  Year-on-year, rental volume was 11.4% lower than 2,264 units rented in April 2018.