, Singapore

HDB rents rose 0.3% in October

Rents for HDB three-rooms grew 1%.

Housing and Development Board (HDB) flat rents increased 0.3% MoM in October, with HDB three-rooms leading the hike by 1%, SRX Property revealed.

Rents for HDB four-rooms and HDB five-rooms also grew 0.2% and 0.1%, respectively. Meanwhile, rents for HDB Executive dipped 0.6%.

The firm also revealed that rents in both mature estates and non-mature estates hiked by 0.1% and 0.6% MoM, respectively.

Also read: HDB rents slipped 0.5% in September

On a YoY basis, HDB rents fell 1.4%. It also crashed 15.4% compared to its peak in August 2013.

Both mature and non-mature estates recorded a YoY decrease of 1.6% and 1.1%, respectively, SRX Property noted.

SRX added that HDB rental volumes jumped 10.2% MoM to 1,937 flats rented in October from 1,757 HDB units rented in September. On a YoY basis, rental volume in October 2018 grew 8.9% compared to the 1,778 units rented in October 2017.

"We have been receiving more enquiries and increasing rental demand from collective sales owners and potential private home buyers who are leasing a home temporarily whilst they wait for the property market to turn in their favour," OrangeTee & Tie head of research and consultancy Christine Sun said. 

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Chua spent 18 years with UBS Wealth Management prior to his new role.
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