Photo by Danist Soh via Unsplash.

HDB rent prices up 28.5% in December

More HDB flats were rented out in December than the previous month.

HDB rent prices rose 28.5% in December compared to the same month in 2021, according to data released by the SRX.

Year-on-year, all room types record rent increases: 3 Room rents rose by 24.6%; 4 Room, by 29.5%; 5 Room, by 31.6%; and executive rents by 27.8%.

Compared to November 2022, HDB rent prices were 2.8% higher.

ALSO READ: Why HDB rental transactions dropped in November

By volume, the number of HDB flats rented out were 5% higher than in November. The 2,513 HDB flats rented in December, however, is 21.3% lower than the volume reported for December 2021. 

Volumes are overall 15.4% lower than the 5-year average volume for the month of December.

For the full-year of 2022, total volumes are estimated to be 32,776, or 1.8% higher than 2021.

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