HDB rents tumble by 3.3% YoY in October
Only 1,602 units were rented.
According to flash estimates by SRX Property, the SRX Property Price Index for HDB Rentals revealed that rents in October 2015 tumbled down 3.3% on a YoY basis. Compared to September, rents contracted 0.5%.
HDB 3- and 4-room flats saw 0.5% and 1.2% dips in rents, respectively. Meanwhile, 5-room and executive room flats respectively inched up 0.1% and 1.1% in rents.
Further, rent change in September was tweaked from no change to a 0.1% slip.
Rental volume also struggled as as there were only about 1,602 HDB flats rented, reflecting a decline of 7.8% YoY. Compared to September’s 1,652 units, it’s a 3% decline.