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Singapore Property News

Rents for private apartments slip

Rents for non-landed private apartments last month fell by 0.9 per cent over the previous month, while those for Housing Board flats edged up by 0.4 per cent in the same period, according to flash estimates released by real estate portal SRX Property.

Posted on 10-May-2018

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Rents for private apartments slip

Rents for non-landed private apartments last month fell by 0.9 per cent over the previous month, while those for Housing Board flats edged up by 0.4 per cent in the same period, according to flash estimates released by real estate portal SRX Property.

Year-on-year, rents for private apartments and condominiums dropped 0.8 per cent from April last year. They are down by 19.6 per cent from their peak in January 2013. Going by location, rents in the prime districts or core central region slipped the most - by 1.3 per cent.

Rents in the city fringes or rest of central region, and outlying areas or outside central region, fell by 1.1 per cent and 0.2 per cent respectively.

SRX Property estimated that 4,287 non-landed private homes were rented last month, a 10.8 per cent drop from the 4,806 units leased out in March.

Year-on-year, last month's rental volume was 1.6 per cent lower than the 4,355 units in April last year.

In public housing, rents for three-, four-and five-room HDB flats rose month-on-month by 0.4 per cent, 0.3 per cent and 0.2 per cent respectively, while rents for executive flats fell by 1.5 per cent.

An estimated 1,883 HDB flats were rented last month, which, according to SRX data, represent a 13.7 per cent decline from the 2,182 units rented in March.

According to SRX's HDB rental price index, rents in April were down 1.8 per cent from the same period last year, and off by 15.2 per cent from their peak in August 2013.

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