A. Condo Rental Market
1. July 2024 rents increased by 0.9%. CCR, RCR, and OCR increased by 0.1%, 1.4%, and 1.1% respectively, from June 2024.
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Year-on-year, overall rents decreased by 5% from July 2023.
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Year-on-year, rents in CCR, RCR, and OCR decreased by 6.3%, 4.4%, and 4.4%, respectively.
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Volumes increased by 35.1% month-on-month. An estimation of 8,133 units were rented in July 2024 compared to 6,020 in June 2024.
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Year-on-year, rental volumes were 11.4% higher.
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Volumes were 3.8% higher than the 5-year average volumes for July.
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Breaking it down by region, in July 2024, 38.2% of the total volumes were from OCR, 33.4% from RCR, and 28.4% from CCR.
B. HDB Rental Market
1. July 2024 HDB rents increased by 1.4% from June 2024. Mature Estates and Non-Mature Estates rents increased by 1.5%
and 1.2%, respectively. 3 Room, 4 Room, 5 Room and Executive rents also increased by 1.7%, 1.1%, 1.2%, and 1.5%, respectively.
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Year-on-year, overall rents increased by 4.7% from July 2023.
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Year-on-year, Mature and Non-Mature Estate rents increased by 4.9% and 4.4%, respectively.
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Year-on-year, all room types recorded rent increases: 3 Room by 5.2%, 4 Room by 3.8%, 5 Room by 5.1%, and Executive by 4.7%.
2. Volumes increased by 13.8% month-on-month. An estimation of 2,993 HDB flats were rented in July 2024 compared to 2,631 in
June 2024.
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Year-on-year, rental volumes decreased by 11.6% from July 2023.
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Volumes were 5.3% lower than the 5-year average volumes for July.
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Breaking it down by room type, in July 2024, 32.8% of the total volumes were from 3 Room, 36.9% from 4 Room, 24.6% from 5 Room and 5.7% from Executive.
