Rents for private homes, HDB flats down in November: SRX

THE residential leasing market in Singapore remained weak last month, with rents for both private non-landed homes and Housing & Development Board (HDB) flats on a continued slide compared to October.

Rents for private non-landed homes fell 1.1 per cent last month compared to a month ago, according to flash estimates by SRX Property.

Units in Core Central Region, Rest of Central Region and Outside Central Region experienced a decrease in rents of 0.7 per cent, 2 per cent and 0.7 per cent respectively.

Year-on-year, rents in November were 5.6 per cent lower.

Some 3,304 rental transactions involving private non-landed homes were inked in November, down 7.8 per cent month on month and 12.6 per cent higher than a year ago.

For HDB flats, rents were down 0.5 per cent from a month ago in November, with three, four, five-room and executive flats posting declines of 0.5 per cent, 0.1 per cent, 0.7 per cent and 2.5 per cent respectively.

Year-on-year, HDB rents in November 2015 were down by 4.1 per cent from November 2014.

But HDB rental transaction volumes marked a 6.3 per cent month-on-month uptick in November to 1,822 flats, and a 3.9 per cent rise from November last year.