Rents for private flats, HDB fall in Nov

Rent for non-landed private homes and HDB flats fell last month from October, according to SRX Property yesterday.

Non-landed private home rents fell 0.8 per cent, while those for HDB flats declined 0.9 per cent.

Rents for condominiums and private apartments recorded their fifth straight monthly fall in November.

Rents for these non-landed private homes fell across all locations, down 0.7 per cent in the prime districts and 0.9 per cent in the city fringes and outlying districts.

November rents were down 4.5 per cent from the same month last year and 18.9 per cent off their peak in January 2013, SRX Property said. The number of condo and apartment leasings also dropped, dipping 0.5 per cent from 3,830 in October to 3,811 last month.

However, rental volume last month was 20.8 per cent higher than the 3,156 units leased in November last year.

The HDB rental market also recorded fewer leasings, with an estimated 1,747 flats rented last month, a 1.3 per cent decrease from October.

Year on year, rental volume last month decreased by 7.3 per cent from November last year.

Rents for HDB executive flats rose 0.8 per cent from October, but the smaller three-room, four-room and five-room units dropped by 1.6 per cent, 0.5 per cent and 1.1 per cent respectively. Mature estate rents decreased by 1.2 per cent from October to November, while those in non-mature estates declined 0.7 per cent.

HDB rents were down 4.6 per cent in November from the same month last year and 12.2 per cent off their peak in August 2013.

Rent for flats in mature estates slipped 4.5 per cent in November from the same month last year, while those in non-mature estates dropped 4.7 per cent from a year ago.

Ann Williams

A version of this article appeared in the print edition of The Straits Times on December 15, 2016, with the headline 'Rents for private flats, HDB fall in Nov'. Print Edition | Subscribe