Rental prices for HDB, private homes dip in August: SRX Property

SINGAPORE — Rental prices for Housing and Development Board (HDB) flats fell 0.6 per cent in August from the previous month, according to data released by SRX Property today (Sept 9).

Rentals for 3-room and 4-room flats saw rental prices decline by 1.1 per cent and 0.9 per cent respectively. Bucking the trend were 5-room and executive flats, with a 0.1 and 0.7 per cent increase respectively, SRX Property said.

Year-on-year, rental prices for HDB flats in August were down 3.6 per cent, and were down 6.6 per cent compared with its peak in August 2013.

Rental volume also declined, with an estimated 1,646 flats rented this month, down 6.1 per cent from the 1,752 units rented the previous month, SRX Property said.

PRIVATE HOMES’ RENTS DOWN

Rental prices in the non-landed private residential market fell 0.4 per cent this month compared with the previous month, according to SRX Property.

Units in the Core Central Region and Outside Central Region saw decreases of 0.7 per cent and 1.3 per cent in rent respectively, while those in the Rest of Central Region saw a 0.8 per cent increase.

On a year-on-year basis, rents in August were down 5.7 per cent, and down 12.9 per cent compared with its peak in January 2013.

Rental volume fell from July’s 4,147 units to an estimated 4,097, SRX Property said. CHANNEL NEWSASIA