HDB and Condo Rental Volumes At Lowest Levels Since Circuit Breaker. Prices Stable.

09 Sep 2020
Property Data
A. Condo Rental Market

1.   August 2020 rents remain unchanged from July 2020. CCR and OCR rents decrease by 0.2% and 0.4% respectively while RCR rents increase by 0.6%.

condo rental price index 2020 august
condo rental price index by region 2020 august
  • Year-on-year, overall rents decrease 1.0% from August 2019.
  • Year-on-year, rents in CCR and RCR decrease by 2.4% and 1.9% respectively, while OCR rents increase by 0.5%.
  • Rents are down 17.3% from the peak in January 2013.

2. Volumes decrease 20.4% month-on-month. An estimated 2,716 units are rented in August 2020 as compared to 3,413 units in July 2020.

condo rental volume 2020 august
  • Year-on-year, rental volumes are 47.0% lower.
  • Volumes are 42.0% lower than the 5-year average volume for the month of August.
  • Breaking down by regions, in August 2020, 38.8% of the total volumes are from OCR, 33.1% from RCR and 28.1% from CCR.
 
B. HDB Rental Market

1.   August 2020 HDB rents increase 0.3% from July 2020. Non-Mature Estates rents increase by 1.2% while Mature Estates rents decrease by 0.5%.
 3 Room and 4 Room rents increase by 0.3% and 0.1% respectively while both 5 Room and Executive rents decrease by 0.1%.

hdb rental price index 2020 august
hdb rental price index by flat type 2020 august
  • Year-on-year, overall rents decrease by 0.1%.
  • Year-on-year, Mature Estates rents decrease by 2.1% while Non-Mature Estates rents increase by 2.2%.
  • Year-on-year, rents for 3 Room, 5 Room and Executive experience decreases of 1.3%, 0.7% and 2.6% while 4 Room rents increase by 0.9%.
  • Rents are down 14.6% from the peak in August 2013.
hdb rental price index by estate type 2020 august
hdb rental price index by estate type table 2020 august

2.   Volumes decrease 16.7% month-on-month. An estimated 1,025 HDB flats are rented in August 2020 versus 1,230 units in July 2020.

hdb rental volume 2020 august
  • Year-on-year, rental volumes decrease by 46.2% from August 2019.
  • Volumes are 44.1% lower than the 5-year average volume for the month of August.
  • Breaking down by room types, in August 2020, 40.6% of the total volumes are from 3 Room, 33.4% from 4 Room, 20.9% from 5 Room and 5.0% from Executive.
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