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Property Data10 Jul 2019

Non-Landed Private Residential Rents and Volumes Decline in June; HDB Rental Prices Rise by 0.4%

A. Non-Landed Private Residential Rental Market
  1.  Overall rental prices decreased by 0.2% from May 2019. CCR and OCR decreased 0.5% and 1.1% respectively while RCR increased 0.9%.

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

  •  Year-on-year, rents rose by 1.9%.
  •  Rents were down 17.5% from the peak in January 2013.
  •  All region rentals increased year-on-year. CCR by 2.7%, RCR by 2.1% and OCR by 1.0%.
  •  Monthly index movement for May 2019 was revised from -0.3% to -0.2%.

 

  1.  Volumes decreased by 4.2% from May 2019. An estimated 4,704 units were rented in June 2019 as compared to 4,908 units in the preceding month. Year-on-year rental volumes are 6.4% lower than in June 2018.

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B. HDB Rental Market

  1.  HDB rents increased 0.4% from May 2019.  4 Room rents rose by 1.2%, while 3 Room, 5 Room and Executive rents fell by 0.3%, 0.1% and 0.6% respectively. Both Mature Estates and Non-Mature Estates increased by 0.7% and 0.1% respectively.
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            According to the SRX Property Price Index for HDB Rentals:

  •  Year-on-year, rents increased by 1.4%.
  •  Rents were down 14.6% from the peak in August 2013.
  •  Mature Estates and Non-Mature Estates rentals increased by 2.0% and 0.6% year-on-year.
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  1.  HDB rental volume decreased by 3.1%. An estimated 1,878 HDB flats were rented in June 2019 versus 1,938 units in May 2019. Year-on-year rental volumes increased by 1.2% from June 2018

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ON TRACK
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