A. Condo Rental Market
1. In November 2024, rental prices increased by 0.2%. CCR and RCR decreased by 0.6% and 0.1%, respectively, while OCR increased by 0.8% in November 2024.
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Year-on-year, overall rental prices decreased by 1.3% from November 2023.
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Year-on-year, rental prices in CCR, RCR, and OCR decreased by 2.4%, 1.4%, and 1.5%, respectively.
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Rental volumes decreased by 12.3% month-on-month. An estimated 5,010 units were rented in November 2024 compared to 5,712 in October 2024.
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Year-on-year, rental volumes were 0.8% higher.
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Rental volumes were 10.1% lower than the 5-year average for November.
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Breaking it down by region, in November 2024, 36.3% of the total rental volume was from OCR, 33.6% from RCR, and 30.2% from CCR.
B. HDB Rental Market
1. November 2024 HDB rental prices increased by 0.4% from October 2024. Mature and Non-Mature Estate rental prices increased by 0.2% and 0.5%, respectively. 4-room rental prices increased by 1.3%, while 5-room and Executive rental prices decreased by 0.7% and 1%, respectively. 3-room rental prices remained the same.
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Year-on-year, overall rental prices increased by 4.2% from November 2023.
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Both Mature and Non-Mature Estate rental prices increased by 4.6% and 3.5%, respectively, year-on-year.
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Year-on-year, all room types recorded rental price increases: 3-room by 5.1%, 4-room by 4.1%, 5-room by 2.8%, and Executive by 3.6%.
2. Rental volumes decreased by 13.8% month-on-month. An estimated 2,155 HDB flats were rented in November 2024 compared to 2,499 in October 2024.
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Year-on-year, rental volumes decreased by 20% from November 2023.
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Rental volumes were 18.3% lower than the 5-year average for November.
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Breaking it down by room type, in November 2024, 32.7% of the total rental volume was from 3-room, 38.1% from 4-room, 24.1% from 5-room, and 5.1% from Executive.
