A. Condo Rental Market
1. July 2020 rents increase 0.4% from June 2020. CCR rents decrease by 0.6% while RCR and OCR rents increase by 0.7% and 0.9% respectively.
- Year-on-year, overall rents decrease 0.9% from July 2019.
- Year-on-year, rents in CCR and RCR decrease by 1.8% and 1.9% respectively, while OCR rents increase by 0.4%.
- Rents are down 17.5% from the peak in January 2013.
2. Volumes decrease 7.2% month-on-month. An estimated 3,880 units are rented in July 2020 as compared to 4,183 units in June 2020.
- Year-on-year, rental volumes are 32.3% lower.
- Volumes are 22.8% lower than the 5-year average volume for the month of July.
- Breaking down by regions, in July 2020, 39.2% of the total volumes are from OCR, 33.7% from RCR and 27.1% from CCR.
B. HDB Rental Market
1. July 2020 HDB rents increase 1.4% from June 2020. Mature Estates and Non-Mature Estates rents increase by 0.2% and 2.6% respectively. All room types experience price increases with 3 Room, 4 Room, 5 Room and Executive rents rise by 1.4%, 1.5%, 1.3% and 0.7% respectively.
- Year-on-year, overall rents decrease by 0.5%.
- Year-on year, Mature Estates rents decrease by 1.7% while Non-Mature Estates rents increase by 0.8%.
- Year-on-year, rents for 3 Room, 5 Room and Executive experience decreases of 1.1%, 0.9% and 2.4% while 4 Room rents increase 0.5%.
- Rents are down 14.9% from the peak in August 2013.
2. Volumes decrease 19.1% month-on-month. An estimated 1,435 HDB flats are rented in July 2020 versus 1,774 units in June 2020.
- Year-on-year, rental volumes decrease by 31.6% from July 2019.
- Volumes are 25.7% lower than the 5-year average volume for the month of July.
- Breaking down by room types, in July 2020, 36.5% of the total volumes are from 3 Room, 35.8% from 4 Room, 23.0% from 5 Room and 4.8% from Executive.