Slight rise in private home rentals, HDB rents decline

Rental prices for Housing and Development Board (HDB) flats fell 0.5 per cent in January from the previous month, while rents for private homes rose 0.2 per cent, according to SRX Property.

Four-room, five-room and executive flats saw rental prices fall 1.3 per cent, 0.3 per cent and 1.6 per cent, respectively. Three-room flats, however, bucked the trend with rents rising by 0.3 per cent.

On-year, rents in January 2015 were down 1.6 per cent. Rents in both mature and non-mature estates fell, with rent of non-mature estates in December 2014 dropping 6.9 per cent from its peak in October 2012 while rents in mature estates fell 4.4 per cent in that same month from its peak in February 2013.

Rental volume for HDB flats also increased, with an estimated 1,651 flats rented in January 2015 – a 4.4 per cent increase from the 1,581 units rented in the previous month.

SLIGHT UPTICK IN PRIVATE RENTS

Rentals for non-landed private residences posted a 0.2 per cent increase in January 2015, after 11 consecutive months of decline.

Units in the Core Central Region saw rental prices decline by 0.8 per cent, but rents for units in the Rest of Central Region and Outside of Central Region rose 1.9 per cent and 0.2 per cent respectively.

Rents in January fell 5.9 per cent year-on-year, down 9.6 per cent from its peak in January 2013.

An estimated 3,47 private units were rented in January 2015, a rise of 13 per cent from the 3,025 units rented last month. Year-on-year, rental volume rose 16.1 per cent from the 2,944 units rented in January 2014.

Source : Channel NewsAsia – 11 Feb 2015

Join The Discussion

Compare listings

Compare