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Non-landed private home rents fell 0.4% m-o-m in Oct; HDB rents down 0.5%
RENTALS for both non-landed private homes and HDB flats continued to ease month-on-month (m-o-m) in October 2016. However, leasing volumes rose in both segments, according to the latest flash estimates released by SRX Property on Wednesday morning.
SRX's rental index for private apartments and condos fell 0.4 per cent in October 2016 over September 2016 after retreating 0.5 per cent m-o-m in September 2016. The index has contracted 4.5 per cent year-on-year (y-o-y) and is also 17.9 per cent below its peak in January 2013.
According to SRX Property, an estimated 3,686 non-landed private homes were rented in October 2016, reflecting a 1.3 per cent m-o-m increase from 3,637 units rented in September 2016. On a y-o-y comparison, too, last month's rental volume was up 8.2 per cent from the 3,408 units leased in October 2015.
In the HDB flat segment, SRX Property's rental index contracted 0.5 per cent m-o-m in October 2016 after dipping 0.4 per cent m-o-m in September 2016. The index has eased 4.0 per cent y-o-y from October 2015 and is 11.3 per cent lower than its August 2013 peak.
SRX Property estimates that 1,814 HDB flats were rented last month - up 17.9 per cent from the previous month but 0.9 per cent lower than a year ago.