,Singapore

HDB rental rates rise for 11th straight month

Rents rose whilst more than 100 condo and HDB units were freed up in April.

Both condominium rents and HDB rents rose by 1.3% in April month-on-month, according to latest SRX data.

This is the 11th straight month of rent increases for HDB units. The latest data also represents a 5.6% rent increase from the same period last year.

HDB rents are 10% lower than their peak of August, 2013.

Overall rents for condominium units increased by 5.2% year-on-year. April's rents were 11.9% lower than the peak reached in January 2013.

Whilst rents are going higher, fewer Singaporeans are renting.

For HDB flats, rented units decreased to 1847 in April compared to the 2,026 units in March, or by 8.8%.

Meanwhile, 162 condominium units for rent were unoccupied in April, down to 5,100 from the 5,262 rented in March.

In the same month, condo resales volume was at an 11-year high, with 1,993 units resold.

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