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Private apartment, condo rents slip 0.9% in April; HDB rents edge up 0.4%: SRX

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Rents of non-landed private homes in Singapore fell by 0.9 per cent in April 2018 over March, while rents of HDB flats rose by 0.4 per cent over the same period, according to flash estimates released by real estate portal SRX Property on Wednesday (May 9).

Year-on-year, rents for private apartments and condominiums dropped 0.8 per cent from April 2017. They are down by 19.6 per cent from their peak in January 2013.

Going by location, rents in the prime districts or core central region (CCR) slipped the most – by 1.3 per cent. Rents in the city fringes or rest of central region (RCR) and outlying areas or outside central region (OCR) dropped by 1.1 per cent and 0.2 per cent respectively.

SRX Property estimated that some 4,287 non-landed private homes were rented in April 2018, a 10.8 per cent fall from the 4,806 units leased out in the preceding month.

Year-on-year, rental volume in April 2018 was 1.6 per cent lower than the 4,355 units in the year-ago period.

In public housing, rents for 3-room, 4-room and 5-room HDB flats increased month-on-month by 0.4 per cent, 0.3 per cent and 0.2 per cent respectively, while rents for executive flats fell 1.5 per cent.

An estimated 1,883 HDB flats were rented in April 2018, which according to SRX data is a 13.7 per cent decrease from the 2,182 units rented in March.

According to SRX’s HDB rental price index, rents in April 2018 were down 1.8 per cent from the same period last year, and off by 15.2 per cent from their August 2013 peak.

Source: Straits Times

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