July condo rents fall more than HDB flats

Singapore

THE rental decline for private apartments and condominiums has been much more pronounced than that for Housing & Development Board (HDB) flats, latest data from SRX Property shows.

Within the private segment, rentals in the Core Central Region (CCR) eased less than those in the suburbs or Outside Central Region (OCR). It is a similar pattern in the HDB rental market, with a smaller drop for flats in mature estates (seen as more prime areas) than non-mature estates.

Knight Frank chairman Tan Tiong Cheng noted that in mature estates, there is less supply of HDB flats put up for leasing by their owners, who would prefer to live in the units themselves given their central location.

For these same reasons, rental demand tends to be generally stronger for flats in mature estates, he…