Rental volume increase by 5.8 per cent

SINGAPORE: Rental prices for Housing and Development Board (HDB) flats remained flat in May, while those for non-landed private properties decreased by 0.6 per cent compared to April 2016, according to flash estimates by SRX Property.

Rental volume increased by 5.8 per cent, with about 4,400 units rented in May – up from 4,158 the previous month.  Upcoming new launch condo include The Tapestry , The JovellPark ColonialThe OpusJui Residences, 33 Residences , Parc BotanniaThe JovellRezi 35Carpmael Thirty Eight , FivenineSixteen35 Residences and Kandis Residence , Sengkang Central condo while existing ones include Kingsford Waterbay, Seaside Residences and Grandeur Park Residences.

Year-on-year, rental prices for private apartments were down 5.2 per cent. Private apartments in the city fringes saw the biggest drop in rent at 8.1 per cent, while those in the Core Central Region and Outside Central Region saw decreases of 1.5 per cent and 6.5 per cent, respectively.

For the month of May, rents for HDB three-room flats remained the same. HDB four-room flats posted a 0.4 per cent increase in rents, while HDB 5 Rooms and Executive rents posted a 0.1% and 1.5% decrease, respectively.

Rental volume for HDB flats saw a 1.5 per cent increase in May. About 2,005 HDB flats were rented, compared to 1,975 units in April.

Year-on-year, HDB rents in May were down by 3.8 per cent, and were down 9.7 per cent compared to its peak in August 2013, according to data from SRX Property.