April 2020 NLP and HDB Rents Decrease 0.9% and 0.2% on Lower Volumes During Circuit-Breaker

13 May 2020
Property Data
A. Non-Landed Private Residential Rental Market

1.   April 2020 rents decrease 0.9% from March 2020. CCR, RCR and OCR rents decrease by 0.1%, 1.6% and 1.0%, respectively.

non landed private rental price index 2020 april
non landed private rental price index by region 2020 april

  • Year-on-year, rents increase 1.8% from April 2019.
  • Rents are down 15.7% from the peak in January 2013
  • Rents in all regions increase year-on-year: CCR by 2.4%, RCR by 1.7% and OCR by 1.4%.
2. Volumes decrease 36.5% month-on-month. An estimated 3,068 units are rented in April 2020 as compared to 4,829 units in March 2020.

non landed private rental volume 2020 april

  • Year-on-year, rental volumes are 40.6% lower.
  • Volumes are 32.3% lower than the 5-year average volume for the month of April.
  • Breaking down by regions, in April 2020, 41.5% of the total volumes are from OCR, 30.3% from RCR and 28.2% from CCR.
 
B. HDB Rental Market
1.   April 2020 HDB rents decrease 0.2% from March 2020. Mature Estates rents decrease 0.9% while Non-Mature Estates rents increase 0.7%. According to room types, 3 Room and Executive Room rents fall by 0.3% and 1.6% respectively, while 4 Room rents increase by 0.1% and 5 Room rents remain stable.

hdb rental price index 2020 april

hdb rental price index by flat type 2020 april
  • Year-on-year, rents increase by 1.3%.
  • Rents are down 14.1% from the peak in August 2013.
  • Except for Executive Room rents which decrease by 0.7%, all room types experience rent increases year-on-year: 3 Room by 1.5%, 4 Room by 1.0% and 5 Room by 1.3%.
  • Mature Estates and Non-Mature Estates rents increase year-on-year by 0.3% and 2.3% respectively.
hdb rental price index by estate type 2020 april

hdb rental price index by estate type table 2020 april

2.   Volumes decrease 36.7% month-on-month. An estimated 1,260 HDB flats are rented in April 2020 versus 1,990 units in March 2020.

hdb rental volume 2020 april
  • Year-on-year, rental volumes decrease 41.3% from April 2019.
  • Volumes are also 39.3% lower than the 5-year average volume for the month of April.
  • Breaking down by room types, in April 2020, 36.1% of the total volumes are from 4 Room, 30.8% from 3 Room, 26.5% from 5 Room and 6.6% from Executive Room.
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