Condo Rents Rise by 2.8% in May 2022, Climbing for 17th Consecutive Month; HDB Rents Increase by 2.4%, Rising for 23rd Straight Month

15 Jun 2022
Property Data
        A. Condo Rental Market
  1. May 2022 rents climb by 2.8% from April 2022. CCR, RCR and OCR rents increase by 2.2%, 2.8% and 3.3% respectively.
Condo Rental Price Index May 2022
Condo Rental Price Index By Region May 2022
  • Year-on-year, overall rents increase by 18.1% from May 2021.
  • Year-on-year, rents in CCR, RCR and OCR increase by 15.4%, 18.6% and 19.7% respectively.
  1. Volumes increase by 11.7% month-on-month. An estimated 4,185 units are rented in May 2022 as compared to 3,748 units rented in April 2022.

Condo Rental Volume May 2022
  • Year-on-year, rental volumes are 23.7% lower.
  • Volumes are 13.2% lower than the 5-year average volume for the month of May.
  • Breaking it down by region, in May 2022, 41.1% of the total volumes are from OCR, 31.9% from RCR and 27.0% from CCR.
       B. HDB Rental Market
  1. May 2022 HDB rents increase by 2.4% from April 2022. Mature Estates rents increase by 1.8% while Non-Mature Estates rents        increase by 3.1%. 3 Room, 4 Room, 5 Room and Executive rents increase by 2.1%, 1.9%, 3.3% and 1.6% respectively.
HDB Rental Price Index May 2022
HDB Rental Price Index By Mature Non Mature Estates May 2022  Part 1
HDB Rental Price Index By Mature Non Mature Estates May 2022  Part 2
HDB Rental Price Index By Flat Type May 2022
  • Year-on-year, overall rents increase by 16.2%.
  • Year-on-year, Mature Estates and Non-Mature Estates rents increase by 14.4% and 18.1% respectively.
  • Year-on-year, all room types record rent increases: 3 Room by 15.4%, 4 Room by 15.6%, 5 Room by 18.0% and Executive rents by 11.4%. 
  1. Volumes increase by 8.4% month-on-month. An estimated 1,617 HDB flats are rented in May 2022 compared to 1,492 units in April 2022.
HDB Rental Volume May 2022
  • Year-on-year, rental volumes decrease by 17.3% from May 2021.
  • Volumes are 12.4% lower than the 5-year average volume for the month of May.
  • Breaking it down by room type, in May 2022, 35.3% of the total volumes are from 3 Room, 37.8% from 4 Room, 22.0% from 5 Room and 4.9% from Executive.
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