SINGAPORE - Rents for Singapore condominiums and private apartments reversed course to register a small decrease in December, while HDB rents rose after dipping in November, according to a report on Wednesday (Jan 9).
Flash estimates from real estate portal SRX Property show rents for non-landed private residential properties fell by 0.2 per cent month on month.
Year on year, rents last month were 0.1 per cent higher than in December 2017. They are still 19.8 per cent off their peak in January 2013.
In the smaller HDB rental market, rents rose by 0.6 per cent in December, after dipping 0.5 per cent in November. The HDB three-room, four-room and executive flats all recorded rental increases of 0.5 per cent, 0.2 per cent, and 4 per cent respectively, while rents for HDB five-room flats fell 0.2 per cent.
Year on year, HDB rents last month were down 0.4 per cent from December 2017, and 15.4 per cent off their high in August 2013.
According to SRX Property, an estimated 3,450 private non-landed units were rented in December, a 9.4 per cent plunge from 3,810 units in November. Year on year, rental volume last month was 8.5 per cent lower than the 3,771 units leased in December 2017.
Separately, the number of HDB flats rented fell 8.9 per cent to 1,601 from 1,757 in November. Year on year, rental volume last month was down 4.2 per cent from 1,671 units in December 2017.