Condo Rents Decrease 0.2% while HDB Rents Increase 1.2% in 2020 on Lower Yearly Volumes

13 Jan 2021
Property Data
A. Condo Rental Market
  1. December 2020 rents decrease 0.3% from November 2020. CCR andOCR rents decrease by 0.4% and 0.6% respectively while RCR increases by 0.1%.
condo rental price index 2020 december

condo rental price index by region 2020 december
  • Overall rents decrease for the whole of 2020 is 0.2% (i.e. Dec 20 vs Dec 19), a decrease from the 4.0% rise in 2019.
  • Year-on-year, rents in CCR and RCR decrease by 2.6% and 0.5% respectively, while OCR rents increase by 1.4%.
  • Rents are down 16.5% from the peak in January 2013.
  1. Volumes increase 5.3% month-on-month. An estimated 4,414 units are rented in December 2020 as compared to 4,193 units in November 2020.
condo rental volume 2020 december
  • Year-on-year, rental volumes are 0.5% higher
  • Volumes are 15.4% higher than the 5-year average volume for the month of December.
  • Breaking down by regions, in December 2020, 37.4% of the total volumes are from OCR, 35.0% from RCR and 27.7% from CCR.
  • A total of 52,333 rental transactions are recorded for the whole of 2020, which is 11.4% lower than 2019.
B. HDB Rental Market
  1. December 2020 HDB rents increase 0.4% from November 2020. Mature Estates rents increase by 0.9% while Non-Mature Estates rents decrease by 0.1%. 3 Room, 5 Room and Executive rents increase by 1.0%, 0.2% and 0.4% respectively while 4 Room rents remain unchanged.
hdb rental price index 2020 december

hdb rental price index by flat type 2020 december
  • Overall rents increase for the whole of 2020 is 1.2% (i.e. Dec 20 vs Dec 19), a decrease from the 1.4% rise in 2019.
  • Year-on-year, Mature Estates and Non-Mature Estates rents increase by 0.2% and 2.2% respectively.
  • Year-on-year, rents for 3 Room, 4 Room and 5 Room rents increase by 2.0%, 1.5% and 0.6% respectively while Executive rents decrease by 3.1%.
  • Rents are down 13.2% from the peak in August 2013.
hdb rental price index by estate type 2020 december

hdb rental price index by estate type table 2020 december

  1. Volumes increase 9.0% month-on-month. An estimated 1,773 HDB flats are rented in December 2020 versus 1,627 units in November 2020.
hdb rental volume 2020 december
  • Year-on-year, rental volumes decrease by 4.0% from December 2019.
  • Volumes are 3.1% lower than the 5-year average volume for the month of December.
  • Breaking down by room types, in December 2020, 36.8% of the total volumes are from 4 Room, 35.1% from 3 Room, 23.5% from 5 Room and 4.7% from Executive.
  • A total of 20,500 rental transactions are recorded for the whole of 2020, which is 15.3% lower than 2019.
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