HDB and Condo Prices See First Rebound After 4 Months Decline

12 Aug 2020
Property Data
A. Condo Rental Market

1.   July 2020 rents increase 0.4% from June 2020. CCR rents decrease by 0.6% while RCR and OCR rents increase by 0.7% and 0.9% respectively.

condo rental price index 2020 july
condo rental price index by region 2020 july
  • Year-on-year, overall rents decrease 0.9% from July 2019.
  • Year-on-year, rents in CCR and RCR decrease by 1.8% and 1.9% respectively, while OCR rents increase by 0.4%.
  • Rents are down 17.5% from the peak in January 2013.

2. Volumes decrease 7.2% month-on-month. An estimated 3,880 units are rented in July 2020 as compared to 4,183 units in June 2020.

condo rental volume 2020 july

  • Year-on-year, rental volumes are 32.3% lower.
  • Volumes are 22.8% lower than the 5-year average volume for the month of July.
  • Breaking down by regions, in July 2020, 39.2% of the total volumes are from OCR, 33.7% from RCR and 27.1% from CCR.

B. HDB Rental Market

1.   July 2020 HDB rents increase 1.4% from June 2020. Mature Estates and Non-Mature Estates rents increase by 0.2% and 2.6% respectively. 
All room types experience price increases with 3 Room, 4 Room, 5 Room and Executive rents rise by 1.4%, 1.5%, 1.3% and 0.7% respectively.

hdb rental price index 2020 july
hdb rental price index by flat type 2020 july
  • Year-on-year, overall rents decrease by 0.5%.
  • Year-on year, Mature Estates rents decrease by 1.7% while Non-Mature Estates rents increase by 0.8%.
  • Year-on-year, rents for 3 Room, 5 Room and Executive experience decreases of 1.1%, 0.9% and 2.4% while 4 Room rents increase 0.5%.
  • Rents are down 14.9% from the peak in August 2013.
hdb rental price index by estate type 2020 july
hdb rental price index by estate type table 2020 july

2.   Volumes decrease 19.1% month-on-month. An estimated 1,435 HDB flats are rented in July 2020 versus 1,774 units in June 2020.

hdb rental volume 2020 july
  • Year-on-year, rental volumes decrease by 31.6% from July 2019.
  • Volumes are 25.7% lower than the 5-year average volume for the month of July.
  • Breaking down by room types, in July 2020, 36.5% of the total volumes are from 3 Room, 35.8% from 4 Room, 23.0% from 5 Room and 4.8% from Executive.
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