Singapore condo rents dip 0.6% in May, HDB rents stay flat: SRX

RENTALS for private condos and apartments in Singapore dipped 0.6 per cent in May, compared to April, led by rents in the city fringe and suburbs which fell 0.6 per cent and 1.5 per cent respectively.

This was partially offset by rents in the prime central area which rose a slight 0.2 per cent.

According to the SRX Property Price Index for non-landed private residential rentals released on Wednesday, rents in May were down 6 per cent year on year, and down 11.7 per cent from its peak in January 2013.

The rents change in April has also been revised from no change to a 0.1 per cent uptick.

Private rental volume fell slightly. About 3,337 units were rented in May, 3 per cent lower than in April.

On the public housing front, HDB rents were flat in May compared to April. Rents of HDB three- and five-room flats fell 0.5 per cent and 1.1 per cent respectively, while four-room and executive flats saw a 0.4 per cent and 2 per cent increase in rents.

HDB rents change in April has also been revised from a 0.7 per cent decrease to a 0.5 per cent decrease.

HDB rental volume rose slightly in May, with about 1,798 HDB flats rented, a 1.6 per cent increase from 1,770 units in April.