, Singapore

HDB rents up 0.8% in January

Three-room flats saw the highest growth for the month.

HDB rents posted a 0.8% jump in January MoM, according to a report by SRX. HDB rents grew 2% YoY.

Rents for the month were a 13.5% slump from its peak in August 2013.

All room types saw an increase in rents for the month. Rents for three-room types grew 1.7%, five-room rents inched up 1.6 %, whilst four-room rents advanced 0.6%.

Mature Estates and Non-Mature Estates rents, on the other hand, increased by 0.7% and 0.9% respectively, according to Town Maturity.

On YoY basis, three-room rents expanded 3%, four-room rents jumped 1.3%, whilst rents for five-room types increased by 1.6%. Rents for executive types advanced by 2.7%. Meanwhile, Mature Estates and Non-Mature Estates rents grew YoY by 1.4% and 2.6%, respectively.

"The stronger rental prices came on the back of fewer private homes being completed last year and some stock removed to make way for new housing units," noted Christine Sun, head of research at Orange Tee & Tie. 

In terms of volumes, HDB flats fell 5.1% MoM. An estimated 1,653 HDB flats were rented in January, compared to the 1,741 units in December 2019.

Volumes in January were 14.4% lower than the 5-year average volume for the month.

Rental volumes similarly dropped on a YoY basis by 22.5%

Breaking down by room types, four-room flats accounted for 35% of total rental volume for the month. About 34.7% came from three-room types, 24.5% from five-room, whilst Executive flats made for 5.7% of volumes.

Sun notes that the shrink in HDB rental volume could be attributed to the rising rental prices.

"There were also lesser Flat viewings for potential renters as landlords were on a break amidst the Lunar New year holidays," added Sun. 

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Get Singapore Business Review in your inbox
Chua spent 18 years with UBS Wealth Management prior to his new role.
Private-sector economists polled by the Monetary Authority of Singapore expect higher growth, faster inflation in 2021. Economists and analysts from the private sector expect the Singapore economy to grow by 6.8% for the full year of 2021, according to the latest Monetary Authority of Singapore (MAS) survey of professional forecasters. The forecast for the June survey is higher than the 5.8% forecast from the March survey. The twenty-seven respondents expect manufacturing to grow by 8.3%, finance & insurance by 6.0%, construction by 19.3%, wholesale & retail trade by 4.4% and accommodation & food services by 6.5%. Private consumption is expected to grow by 5.2%, lower than the 7.9% forecast from the past survey. Non-oil domestic exports is expected to grow by 7.5% for the full year of 2021. CPI-all items inflation and MAS Core inflation are expected to come in at 1.4% and 0.8% respectively for the full year of 2021. For the second quarter, the economists expect CPI inflation to come in at 1.9% and core inflation to come in at 0.7%.  
The leading F&B establishment operator expands its retail line of condiments and flavourings.
This deepens SGX’s partnership with Nikkei Inc.
These three stocks saw significant growth in trading turnover year-to-date.
The project with a 280-bed capacity is expected to operate by 2022.
Singapore Airport Terminal Services saw the sharpest decline during Monday's trading, with a 1.21% drop.
And the G-7 states demand a probe on the origins of the COVID-19 pandemic.
Approximately 35% of MSEs in the F&B and retail sectors saw their earnings drop by more than half during the Phase 2 Heightened Alert period, according to a DBS survey.
Enterprise Singapore extends the programme that supports food and beverage businesses in providing food delivery services.
The Baht 40b debentures were 1.52 times oversubscribed.
The fund was announced at the inaugural CapitaLand Sustainability X Challenge.
Mapletree Logistics Trust saw the sharpest decline during Friday's trading, with a 0.99% drop.
This may be one of the last times the troubled water treatment firm could meet with securities holders before shutting down.
The company has been listed in the Catalist board of SGX since 2017.