Rents for HDB, non-landed private homes down in November: SRX

SINGAPORE — Rental prices for Housing and Development Board (HDB) flats and non-landed private residential units fell last month by 0.5 per cent and 1.1 per cent respectively, compared to October, flash figures from SRX Property show.

The rental prices for HDB flats fell for the fourth consecutive month, while rents for non-landed private residential homes fell for the tenth month in a row.

SRX Property data released today (Dec 9) showed the rental prices for HDB flats down by 4.1 per cent year-on-year, or 7.8 per cent from the peak in August 2013.

Five- and executive-room flats saw a 0.7 per cent and 2.5 per cent decrease respectively in rents. Similarly, the rental prices for three- and four-room flats fell 0.5 per cent and 0.1 per cent respectively last month.

For non-landed private residential units, the November figures were down 5.6 per cent year-on-year, and 14.9 per cent below the peak prices in January 2013.

SRX Property said an estimated 3,304 non-landed private residential units were rented last month, 1.1 per cent fewer than in October. Still this figure was up 1.3 per cent year-on-year.

As for the HDB market, an estimated 1,822 flats were rented last month, down 0.5 per cent from October. Year-on-year, rental volume last month was up by 1.04 per cent.