Non-landed private home rents up 1%, HDB rents up 0.5%

Private non-landed home rents rose by 1 per cent last month from a month ago, higher than the 0.5 per cent rise in January, flash estimates from SRX Property yesterday showed.

Non-landed private residential rents in the core central region (CCR), rest of central region (RCR) and outside central region (OCR) all rose, increasing by 2.3 per cent, 0.2 per cent and 0.7 per cent, respectively.

On a year-on-year basis, rents last month were down by 0.7 per cent from February last year.

The OCR led with the biggest drop of 2.3 per cent, followed by a 0.1 per cent drop in the RCR.

In the CCR, however, rents saw a 0.6 per cent increase.

Rents last month were down by 18.8 per cent compared to their peak in January 2013.

Some 3,376 non-landed private residential units were rented out last month, SRX said.

This was down from the 4,242 units rented in January, a fall of 20.4 per cent.

In the public housing segment, Housing Board rents rose by 0.5 per cent last month from January this year.

Rents for the three-, four-and five-room units all rose, increasing by 0.7 per cent, 0.3 per cent and 0.7 per cent, respectively.

However, rents for HDB executive units fell by 0.2 per cent.

Compared to a year ago, HDB rents last month were down 1.9 per cent. They are lower by 14.8 per cent from their peak in August 2013.

HDB rental flat volumes fell by 19.1 per cent last month to 1,441 flats leased, down from 1,781 in January this year. Year on year, February's rental volume fell by 11.8 per cent.

A version of this article appeared in the print edition of The Straits Times on March 15, 2018, with the headline 'Non-landed private home rents up 1%, HDB rents up 0.5%'. Print Edition | Subscribe