HDB rents dip 0.6% in December

Rental volume inched up 1.5%.

According to the SRX Property Price Index for HDB Rentals, rents decreased 0.6% from November 2015 to December 2015.

Rents for HDB 3-room flats saw a 0.6% pullback in rent while rents for 4- and 5-room units both inched back 0.8%. Rents for executive-room flats stayed unchanged, however.

On YoY basis, rents in December were down by 4% from December 2014. Also, rents were down 8.6% compared to its peak in 2013 August.

Moreover, rents in mature estates saw a 0.2% decrease, while rents in non-mature estates dipped 1%.

Meanwhile, rental volume inched up 1.5%. SRX Property estimated that about 1,817 HDB flats were rented in December 2015, reflecting a 1.5% increase from November 2015’s 1,790 rented units.

On a YoY basis, rental volume in December 2015 climbed by 8% from the December 2014.