A. Condo Rental Market
February 2024 rents decreases by 1.0% from January 2024. CCR, RCR and OCR rents decrease by 1.6% , 0.5% and 0.6% respectively
- Year-on-year, overall rents decrease by 4% from February 2023.
- Year-on-year, rents in CCR, RCR and OCR decrease by 5.7% , 3.9% and 2.1% respectively
- Volumes decrease by 21.0% month-on-month. An estimated 4715 units are rented in February 2024 as compared to 6017 units rented in January 2024.
- Year-on-year, rental volumes are 7.7% lower.
- Volumes are 11.9% lower than the 5-year average volume for the month of February.
- Breaking it down by region, in February 2024, 35.8% of the total volumes are from OCR, 32.8% from RCR and 31.4% from CCR.
B. HDB Rental Market
- Mature Estates and Non-Mature Estates rents increase by 1.3% and 0.5% respectively. All room types record rent increase month-on-month : 3 Room by 0.4%, 4 Room by 1.5%, 5room by 0.3% and Executives by 2.6%
- Year-on-year, overall rents increase by 8.4% from February 2023.
- Year-on-year, Mature Estates and Non-Mature Estates rents increase by 7.2% and 9.5% respectively.
- Year-on-year, all room types record rent increase: 3 Room by 7.8%, 4 Room by 8.5%, 5 Room by 8.1% and Executive rents by 9.0%.
- An estimated 2448 HDB flats are rented in February 2024 compared to 3027 units in January 2024.
- Year-on-year, rental volumes decrease by 8.4% from February 2023.
- Volumes are 6.9% lower than the 5-year average volume for the month of February.
- Breaking it down by room type, in February 2024, 31.7% of the total volumes are from 3 Room, 37.3% from 4 Room, 25.4% from 5 Room and 5.7% from Executive.
