Rents for private flats down 0.4% last month

Rents for private non-landed homes dipped by 0.4 per cent last month compared with June, while those for HDB flats inched up 0.5 per cent, according to flash estimates from SRX Property out yesterday.

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

Year on year, July rents of condominiums and other 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 growth of 1.3 per cent and 0.8 per cent respectively.

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.

A version of this article appeared in the print edition of The Straits Times on August 12, 2016, with the headline 'Rents for private flats down 0.4% last month'. Print Edition | Subscribe