,Singapore

Rental volume of HDB flats and private condos crashed in February

The rental volume of private condos fell 20.4%, whilst the volume of HDB flats rented fell 19.1%.

The rental volume of private condos in Singapore crashed by 20.4% MoM from 4,242 units in January to 3,376 units in February, the Singapore Real Exchange (SRX) revealed. On a yearly basis, rental volume was lower by 19.2% than 4,176 units last year.

According to preliminary data, rents rose by 1% in February. Rents in Core Central Region (CCR), Rest of Central Region (RCR), and Outside Central Region (OCR) increased by 2.3%, 0.2%, and 0.7% respectively.

On a yearly basis, however, rents were down by 0.7%. CCR posted a 0.6% increase, while those in RCR and OCR posted a 0.1% and 2.3% decrease respectively

Rents in February 2018 were 18.8% down compared to its peak in January 2013.

Meanwhile, HDB rental volume slipped by 19.1% MoM from 1,781 units in January to 1,441 units in February, the Singapore Real Exchange (SRX) revealed. Year-on-year, rental volume in February 2018 decreased by 11.8% from February 2017.

Rents were up 1.9% YoY and 1.5% MoM. HDB 3 Rooms, HDB 4 Rooms and HDB 5 Rooms increased by 0.7%,0.3% and 0.7% respectively, whilst HDB Executives decreased by 0.2%. Rents in February 2018 were down 14.8% compared to its peak in August 2013.

The rents in mature and non-mature estates increased by 0.9% and 0.2% respectively. Year-on-year, rents of mature estates slipped 1.4%, whilst for non-mature estates, the figure dipped 2.6%. 

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