Condo and apartment rents dip 0.4% in July, HDB rents edge up 0.5%: SRX Property

HDB flats inched up 0.5 per cent, according to flash estimates from SRX Property.
HDB flats inched up 0.5 per cent, according to flash estimates from SRX Property. ST PHOTO: AZMI ATHNI

SINGAPORE - Rents for private non-landed homes dipped by 0.4 per cent in July compared to June, while those for Housing Board flats inched up 0.5 per cent, according to flash estimates from SRX Property out on Thursday (Aug 11).

SRX also revised down its estimate for June's month on month change from flat to a 0.1 per cent decrease.

Year on year, July rents of condominiums and private apartments are down by 4.8 per cent from July 2015. Rents in the prime districts held up better, dipping 1.6 per cent while those in the city fringe and outside the central region fell by 7 per cent and 6.3 per cent respectively.

In terms of rental transactions, SRX estimates that volumes fell by 5 per cent to 4,100 non-landed units, which represents a 3.4 per cent decline from June last year.

As for HDB rents, the rental rise was due to three- and four-room flats which posted increases of 1.3 per cent and 0.8 per cent respectively. The bigger five-room and executive flats saw rental declines of 0.8 per cent and 0.4 per cent respectively.

HDB rental volume in July fell 6.1 per cent from June to 1,653 transactions, and was down 10.3 per cent from a year ago, said SRX.