A. Condo Rental Market
1. March 2023 rents decrease by 0.3% from February 2023. Only CCR records rent increase of 0.1% while RCR and OCR rents decrease by 0.4% and 0.2% respectively.
1. March 2023 rents decrease by 0.3% from February 2023. Only CCR records rent increase of 0.1% while RCR and OCR rents decrease by 0.4% and 0.2% respectively.
- Year-on-year, overall rents increase by 32.3% from March 2022.
- Year-on-year, rents in CCR, RCR and OCR increase by 30.3%, 32.4% and 33.3% respectively.
- Volumes decrease by 4.0% month-on-month. An estimated 4,914 units are rented in March 2023 as compared to 5,119 units rented in February 2023.
- Year-on-year, rental volumes are 22.0% lower.
- Volumes are 21.2% lower than the 5-year average volume for the month of March.
- Breaking it down by region, in March 2023, 36.6% of the total volumes are from OCR, 34.6% from RCR and 28.8% from CCR.
B. HDB Rental Market
- March 2023 HDB rents increase by 0.7% from February 2023. Mature and Non-Mature Estates rents increase by 0.2% and 1.2% respectively. Meanwhile, 3 Room, 5 Room and Executive rents increase by 2.1%, 0.8%, 0.3% respectively. Only 4 Room registers a decrease of 0.4%.
- Year-on-year, overall rents increase by 26.8%.
- Year-on-year, Mature Estates and Non-Mature Estates rents increase by 25.3% and 28.3% respectively.
- Year-on-year, all room types record rent increases: 3 Room by 25.0%, 4 Room by 26.8%, 5 Room by 28.2% and Executive rents by 30.1%.
- Volumes increase by 14.8% month-on-month. An estimated 3,007 HDB flats are rented in March 2023 compared to 2,619 units in February 2023.
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Year-on-year, rental volumes increase by 1.1% from March 2022.
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Volumes are 0.1% higher than the 5-year average volume for the month of March.
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Breaking it down by room type, in March 2023, 33.8% of the total volumes are from 3 Room, 37.0% from 4 Room, 23.7% from 5 Room and 5.5% from Executive.
