Private apartment, condo rents rise 0.5% m-o-m in June; HDB flat rents ease 0.6%

RENTS of non-landed private homes in Singapore rose 0.5 per cent in June 2017 over the preceding month, while rents of HDB flats retreated 0.6 per cent over the same period, according to the latest flash estimates for June released by SRX Property on Wednesday.

The rental index for private apartments and condos has contracted 3.2 per cent year on year from June 2016. From its peak in January 2013, the index has lost some 19.1 per cent.

SRX Property estimated that 4,250 non-landed private homes were rented last month - down 8.8 per cent from the 4,661 units rented in May 2017 and also 7.3 per cent lower than the 4,587 units rented in June 2016.

SRX Property's rental index for HDB flats in June 2017 was down 4 per cent year on year as well as 13.5 per cent below its peak in August 2013.

An estimated 1,704 HDB flats were rented in June 2017 - down 5.5 per cent from 1,804 units in May 2017 as well as an 11.5 per cent reduction from June 2016.