A. Condo Rental Market
1. August 2024 rents increased by 0.3%. CCR, RCR, and OCR increased by 0.2%, 0.4%, and 0.6% respectively, from July 2024.
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Year-on-year, overall rents decreased by 3.7% from August 2023.
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Year-on-year, rents in CCR, RCR, and OCR decreased by 4.5%, 3.4%, and 3.4%, respectively.
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Rental volumes decreased by 14% month-on-month. An estimated 6,994 units were rented in August 2024 compared to 8,136 in July 2024.
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Year-on-year, rental volumes were 3.8% higher.
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Volumes were 7.6% lower than the 5-year average for August.
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Breaking it down by region, in August 2024, 35.2% of the total volume were from OCR, 34.5% from RCR, and 30.4% from CCR.
B. HDB Rental Market
1. August 2024 HDB rents decreased by 0.4% from July 2024. Mature Estate and Non-Mature Estate rents decreased by 0.5% and
0.4%, respectively. 3-room, 5-room, and Executive rents also decreased by 0.9%, 0.1%, and 0.3%, respectively, while 4-room remained
the same.
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Year-on-year, overall rents increased by 4.2% from August 2023.
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Year-on-year, Mature and Non-Mature Estate rents increased by 4.5% and 3.9%, respectively.
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Year-on-year, all room types recorded rent increases: 3-room by 3.8%, 4-room by 4.2%, 5-room by 4.6%, and Executive by 5.9%.
2. Volumes decreased by 12.3% month-on-month. An estimated 2,626 HDB flats were rented in August 2024 compared to 2,993 in
July 2024.
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Year-on-year, rental volumes decreased by 13.4% from August 2023.
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Volumes were 4.3% lower than the 5-year average volume for August.
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Breaking it down by room type, in August 2024, 32.5% of the total volume were from 3-room, 39.3% from 4-room, 22.7% from 5-room, and 5.6% from Executive.
