A. Condo Rental Market
1. June 2020 rents decrease 0.6% from May 2020. CCR and RCR rents decrease 1.3% and 1.5% respectively, while OCR rents increase by 0.4%.
- Year-on-year, overall rents decrease 0.7% from June 2019.
- Year-on-year, rents in CCR and RCR decrease by 0.7% and 2.2% respectively, while OCR rents increase by 0.3%.
- Rents are down 18.0% from the peak in January 2013.
2. Volumes increase 54.4% month-on-month. An estimated 4,473 units are rented in June 2020 as compared to 2,897 units in May 2020.
- Year-on-year, rental volumes are 13.0% lower.
- Volumes are 4.3% lower than the 5-year average volume for the month of June.
- Breaking down by regions, in June 2020, 41.2% of the total volumes are from OCR, 32.6% from RCR and 26.2% from CCR.
B. HDB Rental Market
1. June 2020 HDB rents decrease 0.5% from May 2020. Non-Mature Estates rents decrease by 1.6% while Mature Estates rents increase by 0.6%. According to room types, 3 Room, 4 Room, 5 Room and Executive rents fall by 0.2%, 0.3%, 1.2% and 1.1% respectively.
- Year-on-year, overall rents decrease by 2.0%.
- Year-on year, Mature Estates and Non-Mature Estates rents decrease by 2.3% and 1.5% respectively.
- All room types experience rent decreases year-on-year: 3 Room by 1.5%, 4 Room by 1.7%, 5 Room by 2.9% and Executive Room by 0.9%.
- Rents are down 16.1% from the peak in August 2013.
2. Volumes increase 55.7% month-on-month. An estimated 1,869 HDB flats are rented in June 2020 versus 1,200 units in May 2020.
- Year-on-year, rental volumes decrease by 6.6% from June 2019.
- Volumes are 1.2% lower than the 5-year average volume for the month of June.
- Breaking down by room types, in June 2020, 35.3% of the total volumes are from 4 Room, 33.9% from 3 Room, 25.4% from 5 Room and 5.4% from Executive Room.