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    HDB Flats Rental Volume Increase 15.3% in January

    According to the SRX, the number of HDB flats rented in January of this year is 15.3% higher when compared to December of last year. Rental amounts, however, witnessed a yearly decrease of 3%.

    BankBazaar Singapore – February 14, 2018

    Singapore: As per the latest report from the Singapore Real Exchange (SRX), the number of Housing and Development Board (HDB) flats that were rented in January 2018 was 1,800. When compared to the 1,561 HDB flats that were rented in December 2017, this marks an increase of 15.3%. The year-on-year (YoY) rental volume in January increased by 16.7%.

    Furthermore, with respect to HDB Rentals, the SRX Property Price Index showed a 0.2% decrease in rent in January 2018 when compared to December 2017. This decrease in the renal amount is due to a fall in rental prices for HDB 5 Rooms and HDB Executives which decreased by 0.1% and 2.4% respectively. HDB 4 Rooms saw a month-on-month rental increase of 0.2%, while rents for HDB 3 Rooms remained the same. YoY, rents were down by 3% in January 2018, a 15.3% decrease since its peak in August 2013.

    Rents for Mature Estates (estates that are more than 20 years old) decreased by 0.6% month-on-month. Non-mature Estates witnessed a 0.3% rental increase. The YoY rents for these estates, however, saw a drop of 2.7% and 3.3% respectively.

    The month-on-month rental volume for Non-landed Private Residential Properties increased by 21.7% and the YoY rental volume in January 2018 was 4.3% higher when compared to January 2017.

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