HDB rentals dip 0.7% month-on-month in April: SRX Property

Rent prices for Housing and Development Board (HDB) flats dropped by 0.7 per cent month-on-month in April this year, according to the latest data released by SRX Property on Wednesday (May 13).

Rent prices for 4-Room, 5-Room and Executive flats posted a 0.9 per cent, 1.3 per cent and 0.4 percent decrease, respectively. Bucking the trend were 3-Room flats, with a 0.4 per cent increase, the report showed.

April’s rents were down 3 per cent year-on-year, and down 6.2 per cent compared with its peak in August 2013, it added.

Rental volume for HDB flats also decreased. In April, an estimated 1,705 HDB flats were rented, compared with the 1,964 units the previous month, SRX Property said.


As for non-landed private residences, the report showed that rents remained unchanged in April from the previous month.

Units in the Core Central Region experienced a 0.7 per cent increase in rents, but those in the Rest of Central Region and Outside Central Region saw decreases of 0.1 per cent and 0.7 per cent, respectively, according to the data.

On a year-on-year basis, rents in April were down 6 per cent, and down 11.2 per cent compared with its peak in January 2013, it added.

Rental volume dropped 11.9 per cent from March’s 4,111 units rented to April’s estimated 3,621 units, SRX Property said.

Source : Channel NewsAsia – 13 May 2015

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