HDB rental market to sustain growth momentum; private condo rents may face more headwinds in H2 2024

Good times may continue for landlords of Housing and Development Board (HDB) flats, but not those of private homes.

According to figures from SRX and 99.co released earlier this month, the rental price index for the non-landed private housing market fell in February, due to a supply glut last year. The index declined 1 per cent from January to mark a net negative growth for 13 straight months.

However, the rental price index for HDB flats grew 1 per cent to reach an all-time high of 137.5 last month. Rental volume for both HDB and condo slipped in February, mainly due to the Chinese New Year festivities.