February rentals for private flats up, but HDB prices slip: SRX

For HDB units, prices decreased 0.8 per cent from the previous month, with 3-room units slipping by 1.2 per cent, 4-room units by 0.3 per cent and 5-room units by 1.3 per cent.
For HDB units, prices decreased 0.8 per cent from the previous month, with 3-room units slipping by 1.2 per cent, 4-room units by 0.3 per cent and 5-room units by 1.3 per cent.ST PHOTO: LIM YAOHUI

SINGAPORE - Rents for condominiums and private apartments increased in February compared to a month earlier, while those for HDB flats slipped, according to SRX Property price index data released on Wednesday.

Private rents increase 1.1 per cent, its second rise in a row, and the uptick was felt across all locations with rents inching up by 1.2 per cent in prime areas, 0.8 per cent in the city fringes and 1.2 per cent in the outlying areas.

Year- on- year, however, rents fell 3.8 per cent from Feb 2016, 18.1 per cent down from peak data recorded in Jan 2013.

 An estimated 3,757 units were rented out last month, a decrease of 1.0 per cent from the previous figure of 3,796 units. Year on year rental volume was higher by 12.6 per cent, SRX estimates stated.

For HDB units, rents decreased 0.8 per cent from the previous month, with 3-room units slipping by 1.2 per cent, 4-room units by 0.3 per cent and 5-room units by 1.3 per cent. On the other hand, rentals for HDB executive units increased by 1.0 per cent.

Year-on-year, rents were down by 4.8 per cent from Feb 2016, and 13.4 per cent from their peak in August 2013.  

 Rents in mature estate decreased by 1.3 per cent and those in non-mature estates decreased by 0.3 per cent. Year on year, rents slipped 5.5 per cent and 4.1 per cent for mature and non-mature estates respectively.

 Rental volume, however, increased by 1.2 per cent with an estimated 1,477 HDB flats rented in Feb 2017 compared to 1,459 units in Jan. Year-on-year, the volume decreased by 12.4 per cent.