HDB rents up 2.8% YoY in March

Condo rental prices also rose by 2% YoY.

HDB rental prices increased 2.8% YoY in March, SRX and 99.co reported.

All room types saw price increases with 3-room flats up by 4.3%, 4-room flats by 2.2%, 5-room flats by 1.7% and executive flats by 3.5%.

Rental prices in mature estates also went up by 3.7%, whilst non-mature estates saw a 1.9% increase.

Month-on-month, rental volumes grew by 15.6%, although they were still 6.1% below the five-year average for March.

Meanwhile, condo rental prices also rose by 2% year-on-year in March.

Prices in the core central region (CCR), rest of central region (RCR), and outside central region (OCR) increased by 1.4%, 1.9%, and 1.9%, respectively.

MoM, rental volumes for condos increased by 17.1%, with 5,929 units rented in March. However, volumes were still 1.2% lower than the five-year average.