A. Condo Rental Market
1. April 2024 rents decrease by 0.4% from March 2024. CCR rents increase by 0.1%, while RCR and OCR rents decrease by 0.2%, 0.5% respectively.
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Year-on-year, overall rents decrease by 4.6% from April 2023.
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Year-on-year, rents in CCR, RCR and OCR decrease by 5.2% , 4.3% and 4.1% respectively
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Volumes increase by 3.1% month-on-month. An estimated 5874 units are rented in April 2024 as compared to 5699 units rented in March 2024.
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Year-on-year, rental volumes are 4.4% higher.
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Volumes are 6.0% lower than the 5-year average volume for the month of April.
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Breaking it down by region, in April 2024, 35.4% of the total volumes are from OCR, 32.1% from RCR and 32.4% from CCR.
B. HDB Rental Market
1. April 2024 HDB rents increase by 0.3% from March 2024. Mature Estates rents increase by 0.7%, while Non-Mature Estates rents decrease by 0.3%. Meanwhile, 3 Room, 4 Room and Executive rents increase by 0.6%, 0.5% and 0.1%, while 5 Room rents decrease by 0.4%.
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Year-on-year, overall rents increase by 7.6% from April 2023.
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Year-on-year, Mature Estates and Non-Mature Estates rents increase by 7.8% and 7.3% respectively.
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Year-on-year, all room types record rent increase: 3 Room by 6.4%, 4 Room by 8.6%, 5 Room by 7.4% and Executive rents by 10.1%.
2. Volumes increase by 9.2% month-on-month. An estimated 2941 HDB flats are rented in April 2024 compared to 2692 units in March 2024.
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Year-on-year, rental volumes decrease by 9.5% from April 2023.
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Volumes are 9.7% lower than the 5-year average volume for the month of April.
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Breaking it down by room type, in April 2024, 33.3% of the total volumes are from 3 Room, 36.9% from 4 Room, 24.4% from 5 Room and 5.4% from Executive.
