Condo Rents Increase by 2.7% in October 2022, Increasing for 22nd Consecutive Month; HDB Rents Rise by 1.8%, Rising for 28th Straight Month

09 Nov 2022
Property Data
A. Condo Rental Market
  1. October 2022 rents climb by 2.7% from September 2022. CCR, RCR and OCR rents increase by 2.1%, 3.2% and 2.6% respectively.
Condo Rental Price Index Oct 2022
Condo Rental Price Index By Region Oct 2022
  • Year-on-year, overall rents increase by 32.7% from October 2021.
  • Year-on-year, rents in CCR, RCR and OCR increase by 31.1%, 34.2% and 32.6% respectively.
  1. Volumes decrease by 8.7% month-on-month. An estimated 4,355 units are rented in October 2022 as compared to an estimated 4,771 units rented in September 2022.
Condo Rental Volume Oct 2022
Condo Volume Breakdown By Region Oct 2022
  • Year-on-year, rental volumes are 13.9% lower.
  • Volumes are 5.9% lower than the 5-year average volume for the month of October.
  • Breaking it down by region, in October 2022, 39.0% of the total volumes are from OCR, 35.3% from RCR and 25.7% from CCR.
 B. HDB Rental Market
  1. October 2022 HDB rents increase by 1.8% from September 2022. Mature and Non-Mature Estates rents increase by 1.6% and 2.1% respectively. Meanwhile, 3 Room rents decrease by 1.0%, 4 Room, 5 Room and Executive rents increase by 4.4%, 0.3% and 6.1% respectively.
HDB Rental Price Index Oct 2022
HDB Rental Price Index By Mature and Non Mature Estates Oct 2022  Part 1
HDB Rental Price Index By Mature and Non Mature Estates Oct 2022  Part 2
HDB Rental Price Index By Flat Index Oct 2022
  • Year-on-year, overall rents increase by 26.6%.
  • Year-on-year, Mature Estates and Non-Mature Estates rents increase by 25.7% and 27.4% respectively.
  • Year-on-year, all room types record rent increases: 3 Room by 22.5%, 4 Room by 28.2%, 5 Room by 27.6% and Executive rents by 30.6%. 
  1. Volumes increase by 10.3% month-on-month. An estimated 1,995 HDB flats are rented in October 2022 compared to an estimated 1,809 units in September 2022.

HDB Rental Volume Oct 2022
HDB Volume Breakdown By Room Type Oct 2022
  • Year-on-year, rental volumes increase by 7.5% from October 2021.
  • Volumes are 6.0% higher than the 5-year average volume for the month of October.
  • Breaking it down by room type, in October 2022, 35.1% of the total volumes are from 3 Room, 37.4% from 4 Room, 21.7% from 5 Room and 5.8% from Executive.
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