RESIDENTIAL PROPERTY | Staff Reporter, Singapore

Private condo rents down 0.1% in August

HDB rents rose 0.1%.

Private condominium rents dipped 0.1% MoM in August, SRX Property revealed. Rental volumes slipped 4.7% MoM to 4,935 units from 5,176 in July.

The firm found that rents in the core central region (CCR) inched up 0.4% whilst those located in the rest of the central region (RCR) saw private condo rents slipping 0.4%. Meanwhile, rents outside the central region (OCR)was steady.

On a YoY basis, rental rates in August remained unchanged. However, it crashed 19.1% from its peak in January 2013.

Meanwhile, Housing and Development Board (HDB) flat rents inched up 0.1% MoM in August. Rental volumes were down 8.6% MoM to 1,744 flats from 1,909 in July.
According to SRX Property, the largest hike was recorded in HDB Executive flats with rents rising by 1.8%. 3-room and 4-room flat rental rates also inched up by 0.2%.

Rental increases in both mature and non-mature estates were recorded at 0.2% and 0.1%, respectively, as compared to July 2018. On a YoY basis, HDB rents slipped 1.7% from August 2017.

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