Condo and HDB Rental Prices Continue Decline While Volumes Rebounded

15 Jul 2020
Property Data
A. Condo Rental Market

1.   June 2020 rents decrease 0.6% from May 2020. CCR and RCR rents decrease 1.3% and 1.5% respectively, while OCR rents increase by 0.4%.

condo rental price index 2020 june
condo rental price index by region 2020 june
  • Year-on-year, overall rents decrease 0.7% from June 2019.
  • Year-on-year, rents in CCR and RCR decrease by 0.7% and 2.2% respectively, while OCR rents increase by 0.3%.
  • Rents are down 18.0% from the peak in January 2013.

2.  Volumes increase 54.4% month-on-month. An estimated 4,473 units are rented in June 2020 as compared to 2,897 units in May 2020.

condo rental volume 2020 june

  • Year-on-year, rental volumes are 13.0% lower.
  • Volumes are 4.3% lower than the 5-year average volume for the month of June.
  • Breaking down by regions, in June 2020, 41.2% of the total volumes are from OCR, 32.6% from RCR and 26.2% from CCR.

B. HDB Rental Market

1.   June 2020 HDB rents decrease 0.5% from May 2020. Non-Mature Estates rents decrease by 1.6% while Mature Estates rents increase by 0.6%. 
According to room types, 3 Room, 4 Room, 5 Room and Executive rents fall by 0.2%, 0.3%, 1.2% and 1.1% respectively.

hdb rental price index 2020 june
hdb rental price index by flat type 2020 june
  • Year-on-year, overall rents decrease by 2.0%.
  • Year-on year, Mature Estates and Non-Mature Estates rents decrease by 2.3% and 1.5% respectively.
  • All room types experience rent decreases year-on-year: 3 Room by 1.5%, 4 Room by 1.7%, 5 Room by 2.9% and Executive Room by 0.9%.
  • Rents are down 16.1% from the peak in August 2013.
hdb rental price index by estate type 2020 june
hdb rental price index by estate type table 2020 june

2.   Volumes increase 55.7% month-on-month. An estimated 1,869 HDB flats are rented in June 2020 versus 1,200 units in May 2020.
hdb rental volume 2020 june
  • Year-on-year, rental volumes decrease by 6.6% from June 2019.
  • Volumes are 1.2% lower than the 5-year average volume for the month of June.
  • Breaking down by room types, in June 2020, 35.3% of the total volumes are from 4 Room, 33.9% from 3 Room, 25.4% from 5 Room and 5.4% from Executive Room.
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