A. Condo Rental Market
1. September 2020 rents increase 0.2% from August 2020. OCR rents increase by 1.2% while CCR and RCR rents decrease by 0.3% and 0.8% respectively.
- Year-on-year, overall rents decrease 0.4% from September 2019.
- Year-on-year, rents in CCR and RCR decrease by 1.9% and 2.9% respectively, while OCR rents increase by 2.5%.
- Rents are down 17.1% from the peak in January 2013.
2. Volumes increase 49.1% month-on-month. An estimated 4,252 units are rented in September 2020 as compared to 2,852 units in August 2020.
- Year-on-year, rental volumes are 8.0% lower.
- Volumes are 3.2% higher than the 5-year average volume for the month of September.
- Breaking down by regions, in September 2020, 36.4% of the total volumes are from OCR, 35.3% from RCR and 28.3% from CCR.
B. HDB Rental Market
1. September 2020 HDB rents increase 0.4% from August 2020. Mature Estates rents increase by 0.8% while Non-Mature Estates rents remain flat. 3 Room, 4 Room and 5 Room rents increase by 0.9%, 0.2% and 0.3% respectively while Executive rents decrease by 0.9%.
- Year-on-year, overall rents increase by 0.4%.
- Year-on-year, Mature Estates rents decrease by 0.8% while Non-Mature Estates rents increase by 1.8%.
- Year-on-year, rents for 3 Room and 4 Room experience increases of 0.6% and 1.2% while 5 Room and Executive rents decrease by 0.9% and 4.4%.
- Rents are down 14.2% from the peak in August 2013.
2. Volumes increase 49.7% month-on-month. An estimated 1,611 HDB flats are rented in September 2020 versus 1,076 units in August 2020.
- Year-on-year, rental volumes decrease by 20.7% from September 2019.
- Volumes are 10.6% lower than the 5-year average volume for the month of September.
- Breaking down by room types, in September 2020, 36.9% of the total volumes are from 4 Room, 36.7% from 3 Room, 22.5% from 5 Room and 3.9% from Executive.