NLP Rents Increase 0.2% while HDB Rents Decrease 0.5% in March 2020

15 Apr 2020
Property Data
A. Non-Landed Private Residential Rental Market

1. March 2020 rents increase 0.2% from February 2020. RCR and OCR rents rise by 0.3% and 0.8% respectively, while CCR rents decrease by 0.8%.

non landed private rental price index 2020 march

non landed private rental price index by region 2020 march

  • Year-on-year, rents increase 3.2% from March 2019.
  • Rents are down 15.0% from the peak in January 2013
  • Rents in all regions increase year-on-year: CCR by 2.4%, RCR by 4.0% and OCR by 3.0%.
2. Volumes increase 10.9% month-on-month. An estimated 5,244 units are rented in March 2020 as compared to 4,730 units in February 2020.

non landed private rental volume 2020 march

  • Year-on-year, rental volumes are 5.9% lower.
  • Volumes are 7.6% higher than the 5-year average volume for the month of March.
  • Breaking down by regions, in March 2020, 40.6% of the volume comes from OCR, 32.6% comes from RCR and 26.8% comes from CCR.

B. HDB Rental Market

1. March 2020 HDB rents decrease 0.5% from February 2020. 3 Room, 4 Room and 5 Room rents fall by 0.5%, 0.7% and 1.0% respectively, while Executive Room rents rise by 1.3%. 
According to Town Maturity, Mature Estates and Non-Mature Estates rents decrease by 0.3% and 0.8% respectively.

hdb rental price index 2020 march

hdb rental price index by flat type 2020 march
  • Year-on-year, rents increase by 1.5%.
  • Rents are down 13.7% from the peak in August 2013.
  • All room types experience rent increases year-on-year: 3 Room by 1.6%, 4 Room by 1.2%, 5 Room by 1.6% and Executive by 0.9%.
  • Mature Estates and Non-Mature Estates rents increase year-on-year by 1.4% and 1.7% respectively.
hdb rental price index by estate type 2020 march
hdb rental price index by estate type table 2020 march
2. Volumes increase 15.4% month-on-month. An estimated 2,157 HDB flats are rented in March 2020 versus 1,869 units in February 2020. 

hdb rental volume 2020 march
  • Year-on-year rental volumes decrease 11.3% from March 2019.
  • Volumes are also 4.7% lower than the 5-year average volume for the month of March.
  • Breaking down by room types, in March 2020, 34.5% of total rental volume comes from 3 Room, 32.6% from 4 Room, 26.5% from 5 Room and 6.4% from Executive.
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