Private and HDB rents fall again last month: SRX

SINGAPORE — The leasing market in Singapore continued to soften last month, with rents of both public and private homes posting another month of decline, Singapore Real Estate Exchange (SRX) said today (Dec 10).

Rents of non-landed private homes fell 0.8 per cent month-on-month in November, similar to the slip registered in October and the 10th consecutive month of decline.

All three sectors saw rents decreasing last month, with the Outside Central Region (OCR) posting the biggest fall of 1.2 per cent. The Rest of Central Region (RCR) slipped by 0.7 per cent, while the Core Central Region (CCR) dipped 0.3 per cent.

The number of new leases signed last month fell by 11 per cent from the previous month to 2,892 contracts.

In the Housing and Development Board (HDB) segment, rents fell 0.1 per cent last month following the 0.5 per cent drop in October.

Three- and five-room flats saw rental prices falling by 0.2 and 1 per cent, respectively. That of four-room flats remained unchanged, whole executive flats registered a 3.5 per cent increase in rents.

Rental volume last month was down 1.5 per cent to an estimated 1,596 new leases.