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Non-landed private home rents unchanged, HDB flat rents dip in April; both volumes down: SRX

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Rentals of non-landed private residential units in Singapore remained unchanged while rentals of HDB flats dipped 0.7 per cent in April 2015 compared to March, according to the latest SRX Property Price Index released on Wednesday.

RENTALS of non-landed private residential units in Singapore remained unchanged while rentals of HDB flats dipped 0.7 per cent in April 2015 compared to March, according to the latest SRX Property Price Index released on Wednesday.

In the non-landed private residential rental market, units in the city centre experienced a 0.7 per cent increase in rents, while those in the city fringe and the suburbs saw decreases in rents of 0.1 per cent and 0.7 per cent respectively.

In the HDB rental market, three-room flats saw a 0.4 per cent increase in rents while four and five-room flats, as well as executive flats, experienced a 0.9 per cent, 1.3 per cent and 0.4 per cent decrease respectively.

Year on year, non-landed private residential rents and HDB rents in April 2015 were down 6 per cent and 3 per cent respectively from April 2014.

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In the non-landed private residential market, rents change in March have also been revised from a 0.4 per cent decrease to a 0.6 per cent decrease.

Meanwhile, rental volume slumped in both non-landed private residential and HDB markets. According to SRX Property, an estimated 3,621 non-landed private residential units were rented in April 2015, down 11.9 per cent from 4,111 units in March.

In the HDB market, an estimated 1,705 HDB flats were rented in April 2015, a 13.2 per cent decrease from 1,964 units rented in March, SRX Property data shows.

Year on year, rental volume in April 2015 for the non-landed residential market is 11.2 per cent higher than 3,257 units rented in April 2014, while the rental volume for the HDB market is 0.9 per cent lower in April 2015 compared to 1,721 units rented in April 2014.

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