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Condo, apartment rents down 0.4% in August: SRX

Wednesday, September 9, 2015 - 10:57
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Private condominium and apartment rents in Singapore dipped 0.4 per cent in August, after falling 0.3 per cent in July, according to data released by SRX Property on Wednesday.

PRIVATE condominium and apartment rents in Singapore dipped 0.4 per cent in August, after falling 0.3 per cent in July, according to data released by SRX Property on Wednesday.

Homes in the city centre and suburbs led this decline, with rent decreases of 0.7 per cent and 1.3 per cent respectively. Rents in the city fringe rose 0.8 per cent instead.

 Year on year, rents in August 2015 were down 5.7 per cent from August 2014. They were also down 12.9 per cent from their peak in January 2013.

August rental volume fell 1.6 per cent to about 4,097 units leased, from 4,163 units in July.

Year on year, rental volume in August 2015 was 13.8 per cent higher than the 3,601 units rented in August 2014.

On the public housing front, HDB rents fell 0.6 per cent in August, after a 0.1 per cent increase in July. The decline was led by three- and four-room flats which posted falls of 1.1 per cent and 0.9 per cent respectively. Five-room and executive flats saw rents rise 0.1 per cent and 0.7 per cent instead.

Year on year, rents in August 2015 were down 3.6 per cent from August 2014. They were also down 6.6 per cent from their peak in August 2013.

HDB rental volume fell 6.1 per cent in August to about 1,646 HDB flats leased, down from 1,752 units leased in July 2015.

 Year on year, August's rental volume was almost flat compared to the 1,668 units rented a year ago.

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