HDB rents rise 0.5% MoM in October, with mixed trends across estates

Year-on-year, rents rose 4.6%.

HDB rents increased by 0.5% MoM and 4.6% YoY in October, 99.co and SRX reported.

Rents showed mixed movements across room types and estates on a sequential basis.

Mature estate rents increased by 0.9%, whilst non-mature estate rents dipped by 0.2%.

Meanwhile, 3-room, 5-room, and Executive rents increased by 1.2%, 0.7%, and 0.8%, respectively. Rents for 4-room decreased by 0.3%.

Year-on-year, however, rents increased for all room types and estates.

Rents increased by 5.6% YoY for 3-room, 3.9% YoY for 4-room, 4.1% YoY for 5-room, and 6.4% YoY for Executive.

Mature and Non-Mature Estate rents increased by 5.6% YoY and 3.5% YoY, respectively.

Rental volumes also increased in October on a month-on-month comparison, increasing 2.9% to 2,398 flats.

The latest record was, however, 16.1% lower year-on-year and 13.3% below the five-year average volume for October.

Of the total volume,  33.1% was from 3-room, 38.4%  from 4-room,  22.2% from 5-room and  6.3% from Executive.