Private condo rents down 0.5% in June, HDB rents up 0.1%: SRX

RENTS for private condos and apartments fell 0.5 per cent in June compared to May, led by a 0.8 per cent and 0.7 per cent drop in the city and suburban areas respectively. Rents in the city fringe areas saw no change.

This was according to data from SRX Property released on Wednesday.

Year on year, rents in June were down 6.5 per cent from June 2014.

Rents in June were down 12.4 per cent from their peak in January 2013.

Meanwhile, rents in May have been revised from a 0.6 per cent decrease to a 0.8 per cent decrease.

Transactions wise, rental volume rose slightly. Some 3,777 units were rented in June, a mere one per cent increase from 3,739 units in May.

Year on year, rental volume in June was 15.4 per cent higher than the 3,273 units rented in June 2014.

On the public housing front, HDB rents rose a slight 0.1 per cent in June from May.

HDB three- and five-room flats posted a 0.3 per cent and 1.2 per cent increase in rents respectively, while four-room and executive flats both saw a 0.5 per cent drop.

Year on year, rents in June were down 1.8 per cent from June 2014.

June's HDB rents were down 6.1 per cent from their peak in August 2013.

Meanwhile, rents in May have been revised from no change to a 0.4 per cent decrease.

Transactions wise, HDB rental volume was flat in June.

Some 1,902 flats were rented in June, compared to 1,900 units in May.

Year on year, rental volume in June was 14.2 per cent higher than the 1,665 units rented in June 2014.