Condo rents get costlier in January

As HDB rents get cheaper.

The latest figures from SRX Property revealed that private condo rents got costlier in the past month, inching up 1.3%. Rents in CCR, RCR and OCR increased by 0.9%, 1.6% and 1.3% respectively.

On a yearly basis, rents in January were down 5%, as rents in CCR, RCR and OCR posted 2.9%, 6.1% and 5.7% price slump, respectively. The rent price the past month was down 18.9% compared to its peak in January 2013.

Meanwhile, HDB rents are on a downtrend at 0.6% decline. HDB 4 Rooms, HDB 5 Rooms and HDB Executive decreased by 0.8%, 1.5% and 0.3% respectively. On the other hand, HDB 3 Rooms increased by 0.2%.

Compared last year, rents were down 4.8%. Rents were also 12.7% lower compared to the peak seen in August 2013.

Here's more from SRX Property:

An estimated 3,813 Non-landed Private Residential units were rented in January 2017. This represented a 5.8% increase from 3,605 units rented in December 2016. Year-on-year, rental volume in January 2017 was 0.7% higher than 3,785 units rented in January 2016.

On the other hand. an estimated 1,427 HDB flats were rented in January 2017, a 16.1% decrease from 1,701 units rented in December 2016. Year-on-year, rental volume in January 2017 decreased by 27.7% from January 2016.