Condo rents unchanged in April as those for HDB dip; rental volume falls: SRX

Private condominiums and HDB flats in the eastern part of Singapore. PHOTO: ST FILE

SINGAPORE - After a brief burst in March when the number of HDB and private property leases signed jumped by double digits from the previous month, the rental market softened in April.

According to the data released on Wednesday (May 11) by SRX Property, the number of condominiums and apartment rented out in April fell 10.3 per cent to 3,953 from 4,405 units in March.

Year-on-year, though, rental volume was 10.5 per cent higher than the 3,578 units rented in April 2015.

The HDB rental market saw a 2.2 per cent dip in the number of flats leased to 2,048 from 2,093 units in March. Year-on-year, rental volume rose by 5.8 per cent.

SRX data also showed that rents in April were unchanged for apartments and condominiums.

Compared to a year ago, private rents in April were down by 5.4 per cent from April 2015, and 16.1 per cent lower from their peak in January 2013.

For HDB flats, April rents decreased by 0.6 per cent from March. Year-on-year, HDB rents were down by 4.3 per cent and 9.9 per cent lower compared to their peak in August 2013.

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