HDB and Condo Rental Prices and Volumes Increase For 2nd Straight Month in October 2020.

11 Nov 2020
Property Data
A. Condo Rental Market

1.   October 2020 rents increase 0.3% from September 2020. RCR and OCR rents increase by 0.6% and 0.3% respectively while CCR rents decrease by 0.2%.

condo rental price index 2020 october

condo rental price index by region 2020 october
  • Year-on-year, overall rents increase 0.3% from October 2019.
  • Year-on-year, rents in CCR and RCR decrease by 1.6% and 1.8% respectively, while OCR rents increase by 3.2%.
  • Rents are down 16.8% from the peak in January 2013.

2. Volumes increase 6.3% month-on-month. An estimated 4,409 units are rented in October 2020 as compared to 4,148 units in September 2020.

condo rental volume 2020 october
  • Year-on-year, rental volumes are 4.1% lower.
  • Volumes are 5.8% higher than the 5-year average volume for the month of October.
  • Breaking down by regions, in October 2020, 39.1% of the total volumes are from OCR, 33.1% from RCR and 27.8% from CCR.

B. HDB Rental Market

1.   October 2020 HDB rents increase 0.7% from September 2020. Mature Estates and Non-Mature Estates rents increase by 0.6% and 0.8% respectively.
 3 Room, 4 Room, 5 Room and Executive rents increase by 0.6%, 1.0%, 0.8% and 0.5% respectively.

hdb rental price index 2020 october
hdb rental price index by flat type 2020 october
  • Year-on-year, overall rents increase by 0.8%.
  • Year-on-year, Mature Estates rents decrease by 0.3% while Non-Mature Estates rents increase by 1.9%.
  • Year-on-year, rents for 3 Room and 4 Room experience increases of 0.8% and 1.5% while 5 Room rents stay flat and Executive rents decrease by 2.1%.
  • Rents are down 13.7% from the peak in August 2013.
hdb rental price index by estate type 2020 october
hdb rental price index by estate type table 2020 october

2.   Volumes increase 13.9% month-on-month. An estimated 1,734 HDB flats are rented in October 2020 versus 1,523 units in September 2020.

hdb rental volume 2020 october
  • Year-on-year, rental volumes decrease by 12.1% from October 2019.
  • Volumes are 20.0% lower than the 5-year average volume for the month of October.
  • Breaking down by room types, in October 2020, 36.5% of the total volumes are from 4 Room, 35.2% from 3 Room, 21.9% from 5 Room and 6.4% from Executive.
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