Islandwide home rents slipped in November

Both private and HDB rents declined.

Residential rents booked a broad-based decline in November, according to a report by SRX Property.

Private rents fell 1.1% on a month-on-month basis, dragged by a 2% decline in Rest of Central Region (RCR) rents. Rental volume fell 7.8% month-on-month to 3,304 units.

On a year-on-year basis, private rents fell 5.6% while rental volume jumped 12.6%.

Over in the HDB Rental Market, rents fell 0.5% on a month-on-month basis. Executive Condominiums booked the largest rent decline, posting a 2.5% contraction. On a year-on-year basis, HDB rents fell 4.1%.

Meanwhile, HDB rental volume grew 6.3% month-on-month in November to 1,822 units.

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