Rental prices for private homes, HDB dip in October: SRX

Rental prices for Housing and Development Board (HDB) flats and non-landed private residential units both dipped in October, compared to the month before, according to flash estimates from SRX Property.

For HDB rental market, rents slid 0.5 per cent on-month. The dip in prices was experienced by 4-room (0.8 per cent), 5-room (0.2 per cent) and Executive flats (1.4 per cent), but rental prices for 3-room flats went up 0.2 per cent, according to the report issued on Wednesday (Nov 12).

For year-on-year comparison, rents in October were down 2.1 per cent from last year’s figures. There were an estimated 1,559 HDB flats rented last month, a 0.8 per cent bump from September’s 1,546 units, it stated.

As for the private homes market, there was a 0.9 per cent month-on-month drop in prices. All three regions – Core Central Region, Rest of Central Region and Outside of Central – saw decrease in rent of 0.7 per cent, 1.1 per cent and 1.5 per cent, respectively.

October marked the ninth consecutive monthly fall in rental prices, and prices have declined 5.1 per cent since the start of the year, SRX stated.

Rental volume also dropped slightly last month, with an estimated 3,208 units rented, representing a 1.3 per cent decrease from September’s 3,250 units, the report noted.

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