Rents of private home in Singapore up 0.2% in July: SRX Property

RENTS of private non-landed homes in Singapore rose 0.2 per cent in July compared to June, while rental volumes rose by 11.8 per cent from a month ago to 4,834 units, going by the flash estimates of SRX Property.

This was buoyed by the 0.3 per cent and 0.4 per cent uptick in the Core Central Region (CCR) and Outside Central Region (OCR), while the Rest of Central Region (RCR) saw a 0.1 per cent dip.

It also follows a 0.6 per cent increase in June, a revised figure from 0.5 per cent, SRX Property said on Thursday.

But compared to a year ago, rents islandwide were still down 2.7 per cent in July, with all regions - CCR, RCR, and OCR - posting declines of 1.9 per cent, 3.8 per cent and 2.5 per cent, respectively.

Rents in July were 18.9 per cent lower compared to its peak in January 2013 and 0.1 per cent lower from the beginning of the year.

HDB rents continued to slip by 0.1 per cent in July from June, dragged by declines seen in bigger flats, following a 0.8 per cent drop in June.

According to SRX Property, an estimated 1,835 HDB flats were rented in July, representing a 6.7 per cent increase from June.