HDB rents drop 0.3% MoM in May

Year-on-year, however, rents rose by 6.2%.

HDB rents fell by 0.3% MoM but rose 6.2% YoY in May, according to 99.co and SRX.

Rents decreased in mature estates (0.8% MoM) but increased  in non-mature estates (0.5% MoM)

On a year-on-year comparison, rents increased for non-mature estates (6.9%) and mature estates (5.9%).

Most room types recorded MoM rent decreases in May, except 5 Room, which recorded a 0.8% increase.

3 Room, 4 Room and Executive rents dropped by 0.7%, 0.5% and 0.4%, respectively.

Rental volumes also fell in May, dropping by 13.2% MoM and 12.3% YoY to 2,558 HDB flats. 

The latest record was 8.0% lower than the five-year average volume for April.Of the total volume, 35.4% was from 3 Room, 38.1% from 4 Room, 22.0%  from 5 Room and  4.5%  from Executive.