A. Condo Rental Market
- July 2023 rents increase by 1.1% from June 2023. CCR rents increase by 0.7% RCR rents rise by 1.1% and OCR rents increase by 1.6%.
- Year-on-year, overall rents increase by 21.6% from July 2022.
- Year-on-year, rents in CCR, RCR and OCR increase by 18.6%, 21.7% and 23.2% respectively.
- Volumes increase by 25.3% month-on-month. An estimated 7,282 units are rented in July 2023 as compared to 5,810 units rented in June 2023.
- Year-on-year, rental volumes are 7.2% lower.
- Volumes are 6.8% lower than the 5-year average volume for the month of July.
- Breaking it down by region, in July 2023, 37.4% of the total volumes are from OCR, 34.3% from RCR and 28.3% from CCR.
B. HDB Rental Market
- July 2023 HDB rents increase by 2.0% from June 2023. Mature and Non-Mature Estates rents increase by 2.1% and 2.0% respectively. Meanwhile, 3 Room, 4 Room, 5 Room and Executive rents increase by 1.4%, 2.4%, 1.9% and 4.0% respectively.
- Year-on-year, overall rents increase by 24.1%.
- Year-on-year, Mature Estates and Non-Mature Estates rents increase by 23.2% and 25.2% respectively.
- Year-on-year, all room types record rent increases: 3 Room by 21.1%, 4 Room by 24.0%, 5 Room by 26.2% and Executive rents by 30.2%.
- Volumes increase by 11.0% month-on-month. An estimated 3,320 HDB flats are rented in July 2023 compared to 2,990 units in June 2023.
- Year-on-year, rental volumes increase by 9.5% from July 2022.
- Volumes are 8.6% higher than the 5-year average volume for the month of July.
- Breaking it down by room type, in July 2023, 32.0% of the total volumes are from 3 Room, 37.8% from 4 Room, 24.7% from 5 Room and 5.4% from Executive.
