HDB, private apartment rents dip further in March: Property index

Rental prices for Housing and Development Board (HDB) flats and non-landed private properties continued their downward trend in March, led by private apartments in the city fringes.

Rental prices for private apartments fell by 1 per cent in March compared to the previous month. Year-on-year, rents were down 5.3 per cent, according to flash estimates by SRX Property.

Private apartments in the city fringes saw the biggest drop in rent at 1.9 per cent, while those in the Core Central Region and Outside Central Region saw decreases of 0.8 per cent and 0.4 per cent, respectively.

Rental volume increased by 35.5 per cent, with about 4,331 units rented in March – up from 3,197 the previous month.

HDB rents saw a 0.1 per cent decrease from February to March. Year-on-year, rents in March were down by 3.9 per cent, and were down 9.1 per cent compared to its peak in August 2013, according to data from SRX Property.

For the month of March, HDB three-room flats saw a 0.8 per cent decrease in rents, while four-room and executive flats posted a 1 per cent and 0.1 per cent decrease, respectively. In contrast, five-room flats saw a 1.5 per cent increase in rents.

Rental volume for HDB flats saw a 44.3 per cent increase in March. About 2,214 HDB flats were rented, compared to 1,534 units in February.

Source : Channel NewsAsia – 13 Apr 2016

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