Condo, HDB rents ease slightly in Nov: SRX

Private non-landed home rentals slipped by 0.3 per cent in November from a month ago, a gentler decline from the 0.7 per cent dip in October, flash estimates from SRX Property showed yesterday.

The main drag last month came from the Outside Central Region (OCR), which saw rents drop by 1 per cent, followed by a 0.5 per cent fall in the Rest of Central Region (RCR).

Rents in the Core Central Region (CCR), however, increased by 0.8 per cent.

Year on year, condo rentals declined 1.2 per cent last month, with the RCR posting the biggest decline of 1.9 per cent.

Non-landed private rentals in November remain 19.8 per cent below a January 2013 peak.

Meanwhile, rental volumes for private non-landed homes decreased by 0.2 per cent to 3,977 units last month, but were 0.3 per cent higher year on year, according to SRX Property.

On the public housing front, HDB rents fell by 0.5 per cent in November from a month ago, the flash estimates show.

Rentals for Housing Board three-and five-room flats decreased by 1.5 per cent and 0.3 per cent respectively, while rentals for HDB executive flats increased by 0.2 per cent.

Those for four-room flats remained unchanged.

Taken together, HDB rents remain 14.7 per cent below their August 2013 peak.

With relatively cheaper rents, HDB rental volume rose in November.

SRX Property estimates that 1,877 HDB flats were rented last month, representing a 13.8 per cent increase from October, and a 0.1 per cent increase year on year.

A version of this article appeared in the print edition of The Straits Times on December 14, 2017, with the headline 'Condo, HDB rents ease slightly in Nov: SRX'. Print Edition | Subscribe