Condo Rents Rise 1% In Feb, Hdb Rents Up 0.5%: SRX Property

  • SINGAPORE- Private non-landed home rents rose by 1 per cent in February 2018 from a month ago, higher than the 0.5 percent rise in January, flash estimates from SRX Property on Wednesday (March 14) showed.
  • In individual sectors, non-landed private residential unit rents in core central region (CCR), rest of central region (RCR), and outside central region (OCR) all rose, increasing by 2.3 percent, 0.2 percent, and 0.7 percent respectively.
  • On a year-on-year basis, rents last month were down by 0.7percent from February 2017.
  • The OCR led with the biggest drop of 2.3 percent, followed by a 0.1 percent drop in the RCR.
  • In the CCR, however, rents saw a 0.6 percent increase.
  • Rents in February 2018 were down by 18.8 percent compared to their peak in January 2013.
  • Some 3,376 non-landed private residential units were rented in February, SRX said.
  • This was down from the 4,242 units rented in January 2018 a fall of 20.4 percent.
  • On the public housing front, HDB rents rose by 0.5 percent in February 2018 from a month ago.
  • Breaking it down, rents for HDB executive units fell by 0.2 percent, while HDB three-, four-and five-room units all rose, increasing by 0.7 percent, 0.3 percent and 0.7 percent respectively.
  • They are lower by 14.8 percent from their peak in August 2013.
  • HDB rental flat volumes fell by 19.1 percent in February to 1,441 flats leased from 1,781 in January this year.
  • Year-on-year, February’s rental volume fell by 11.8 percent from a year ago.

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