RESIDENTIAL PROPERTY | Staff Reporter, Singapore

HDB rents get cheaper amidst volumes surge

Rents were down 0.5% in March.

Whilst there was a surge in rental volumes, rents in HDB flats declined in March, down 0.5% compared to those of February.

According to SRX Property, rents in HDB 3 Rooms, HDB 4 Rooms, and HDB Executive decreased by 1.1%, 0.2%, and 2.7%, respectively. On the other hand, HDB 5 Rooms rents increased by 0.1%.

On a yearly basis, rents in March were down 4.7%. Meanwhile, they were 13.9% lower compared to the peak recorded in August 2013.

This came as an estimated 2,045 HDB flats were rented in the said month, a 32.3% boost from 1,546 units rented in February. Compared to the rental volume recorded last year, the past month's figure is 7.5% lower.

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