HDB Rents Inch Up in October as NLPs Decrease; Rental Volumes Decrease in Both Markets | Singapore Property News

HDB Rents Inch Up in October as NLPs Decrease; Rental Volumes Decrease in Both Markets

13 Nov 2019
Property Data
A.Non-Landed Private Residential Rental Market
1. Overall rental prices decrease 0.2% from September 2019. CCR and OCR decrease 0.6% and 0.2%, respectively; RCR rents increase 0.1%.

Non Landed Private Rental Price Index 2019 October

Non Landed Private Rental Price Index by Region 2019 October
  • Year-on-year, rents rise by 4.2%.
  • Rents are down 16.9% from the peak in January 2013.
  • Rentals in all regions increase Year-on-year: CCR by 6.3%, RCR by 4.0% and OCR by 2.8%.
2. Volumes decrease 0.8% month-on-month. An estimated 4,341 units are rented in October 2019 as compared to 4,378 units in September 2019.

Non Landed Private Rental Volume 2019 October
  • Year-on-year, rental volumes are 4.0% lower.
  • However, volumes are 12.0% higher than the 5-year average volume for the month of October.
  • Breaking down by regions, in October 2019, 39.3% of the volume comes from OCR, 31.9% comes from RCR and 28.8% comes from CCR.

B. HDB Rental Market
1. 3 Room, 4 Room and 5 Room rents rise by 0.4%, 0.4% and 0.3% respectively, while Executive rents fall by 1.5%. According to Town Maturity, Non-Mature Estates rents increase 0.6% while Mature Estates rents remain the same.

HDB Rental Price Index 2019 October

HDB Rental Price Index by Flat Type 2019 October
  • Year-on-year, rents increase by 1.4%.
  • Rents are down 14.4% from the peak in August 2013.
  • All room types increase year-on-year except for Executive rents which decrease by 0.6%; 3 Room rents increase by 0.9%, 4 Room by 1.3% and 5 Room by 1.7%.
  • Mature Estates and Non-Mature Estates rentals each rise by 1.3% year-on-year.
HDB Rental Price Index in Mature and Non mature Estates 2019 October

HDB Rental Price Index in Mature and Non mature Estates Table 2019 October

2. An estimated 1,830 HDB flats were rented in October 2019 versus 1,913 units in September 2019.
  • Year-on-year rental volumes decrease 9.6% from October 2018.
  • Volumes are also 1.4% lower than the 5-year average volume for the month of October.
  • Breaking down by room types, in October 2019, 32.4% of total rental volume comes from 3 Room, 34.1% from 4 Room, 26.8% from 5 Room and 6.7% from Executive.

HDB Rental Volume 2019 October
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