Private home rents dip another 0.3% in September, HDB rents unchanged: SRX Property

HDB rents saw no change overall in September, those for private apartments and condominium units weakened by 0.3 per cent over the previous month.
HDB rents saw no change overall in September, those for private apartments and condominium units weakened by 0.3 per cent over the previous month.PHOTO: ST FILE

SINGAPORE - While HDB rents saw no change overall in September, those for private apartments and condominium units weakened by 0.3 per cent in September over the previous month, making it the eighth straight month of declines.

September rents for condos and apartments were down 5.6 per cent from a year ago, and 13 per cent compared with their peak in January 2013, according to figures from SRX Property released on Wednesday (Oct 14)

There was no revision for rents change in August.

Condominiums and apartments softened by 0.6 per cent in the city fringes (Rest of Central Region) and 1.3 per cent in outlying districts (Outside Central Region). But they went up by 1 per cent in the prime districts (Core Central Region).

The number of leases signed decreased by 4.1 per cent. According to SRX Property, an estimated 3,758 non-landed homes were rented in September, down from 3,919 in August.

But year-on-year, rental volume in September was 17.7 per cent higher than the 3,194 units leased a year ago.

HDB rents remained unchanged overall in September. According to SRX Property, three-room, five-room and executive flats posted 0.1 per cent, 0.5 per cent and 2.8 per cent decreases in rents respectively, while four-room flat saw a 1.1 per cent increase in rents.

Year-on-year, HDB rents in September were down 3.2 per cent from a year ago and 6.7 per cent lower compared with their peak in August 2013.

The rents change in August has been raised from a 0.6 per cent decrease to 0.7 per cent decline.

HDB rental volume increased 0.9 per cent in September over August. Year-on-year, rental volume in September rose by 7 per cnet from September 2014.