NLP And HDB Rents Increase in February 2020 on Higher Volumes

11 March
Property Data
A. Non-Landed Private Residential Rental Market

1.   February 2020 rents increase 0.1% from January 2020. CCR rents rise by 0.9%, RCR rents decrease by 0.4% while OCR rents are flat.

non landed private rental price index 2020 february

non landed private rental price index by region 2020 february
  • Year-on-year, rents increase 3.3% from February 2019.
  • Rents are down 15.2% from the peak in January 2013
  • Rents in all regions increase year-on-year: CCR by 5.1%, RCR by 2.9% and OCR by 2.4%.
2. Volumes increase 20.6% month-on-month. An estimated 4,830 units are rented in February 2020 as compared to 4,006 units in January 2020. 

non landed private rental volume 2020 february
  • Year-on-year, rental volumes are 20.3% higher.
  • Volumes are also 32.0% higher than the 5-year average volume for the month of February.
  • Breaking down by regions, in February 2020, 40.4% of the volume comes from OCR, 32.1% comes from RCR and 27.5% comes from CCR.

B. HDB Rental Market

1.   February 2020 HDB rents increase 0.4% from January 2020. 3 Room, 4 Room and 5 Room rents rise by 0.4%, 1.1% and 0.5% respectively, while Executive Room rents fall by 3.6%. 
According to Town Maturity, Mature Estates and Non-Mature Estates rents increase by 0.5% and 0.4% respectively.

hdb rental price index 2020 february
hdb rental price index by flat type 2020 february
  • Year-on-year, rents increase by 2.4%.
  • Rents are down 13.2% from the peak in August 2013.
  • Except for Executive Room which remains flat, all room types experience rent increases year-on-year: 3 Room by 2.2%, 4 Room by 3.1% and 5 Room by 2.1%.
  • Mature Estates and Non-Mature Estates rents increase year-on-year by 2.7% and 2.1%, respectively.
hdb rental price index by estate type 2020 februrary
hdb rental price index by estate type table 2020 februray

2.   Volumes increase 11.5% month-on-month. An estimated 1,848 HDB flats are rented in February 2020 versus 1,657 units in January 2020.

hdb rental volume 2020 february
  • Year-on-year rental volumes increase 17.9% from February 2019.
  • Volumes are also 15.2% higher than the 5-year average volume for the month of February.
  • Breaking down by room types, in February 2020, 36.1% of total rental volume comes from 4 Room, 32.0% from 3 Room, 25.5% from 5 Room and 6.4% from Executive.
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