A. Condo Rental Market
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March 2022 rents climb 2.9% from February 2022. CCR, RCR and OCR rents increase by 2.7%, 2.0% and 3.6% respectively.
- Year-on-year, overall rents increase by 14.0% from March 2021.
- Year-on-year, rents in CCR, RCR and OCR increase by 12.3%, 13.7% and 15.5% respectively.
- Condo rents are now 0.8% lower from the peak in January 2013.
- Volumes increase by 21.2% month-on-month. An estimated 4,683 units are rented in March 2022 as compared to 3,863 units rented in February 2022.
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Year-on-year, rental volumes are 17.4% lower.
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Volumes are 12.4% lower than the 5-year average volume for the month of March.
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Breaking down by regions, in March 2022, 39.1% of the total volumes are from OCR, 32.9% from RCR and 28.0% from CCR.
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March 2022 HDB rents increase by 1.4% from February 2022. Mature Estates rents increase by 1.7% while Non-Mature Estates rents increase by 1.1%. 3 Room, 4 Room, 5 Room and Executive rents increase by 2.4%, 1.3%, 0.1% and 1.8% respectively.
- Year-on-year, overall rents increase by 13.5%.
- Year-on-year, Mature Estates and Non-Mature Estates rents increase by 12.2% and 14.8% respectively.
- Year-on-year, all room types record rent increases: 3 Room by 12.4%, 4 Room by 14.1%, 5 Room by 13.7% and Executive rents by 10.0%.
- Rents now surpass the previous peak in August 2013 by 1.0%.
- Volumes bounce back by 31.3% month-on-month. An estimated 1,767 HDB flats are rented in March 2022 compared to 1,346 units in February 2022.
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Year-on-year, rental volumes decrease by 17.2% from March 2021.
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Volumes are 21.4% lower than the 5-year average volume for the month of March.
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Breaking down by room types, in March 2022, 37.5% of the total volumes are from 3 Room, 34.4% from 4 Room, 22.6% from 5 Room and 5.5% from Executive.