Condo rents in September down 17.6% from its peak three years ago

HDB rents are also 10.8% lower.

Weak condo rental market persists in September as data from SRX Property show rents 17.6% lower compared to its peak in January 2013.

On a monthly basis, rents decreased by 0.6% in September compared to August.

Rents for non-landed private residential units in CCR and OCR fell by 1.8% and 0.3% respectively. On the other hand, RCR increased by 0.2%.

According to SRX Property Price Index for non-landed private rentals, rents in September were down by 4.6% YoY.

In individual sectors, CCR, RCR and OCR posted 2.8%, 4.6% and 6.0% YOY decrease in price, respectively.

During the month, rental volume decreased by 14.2%.

According to SRX Property, an estimated 3,716 non-landed private residential units were rented in September 2016. This represented a 14.2% decrease from 4,329 units rented in August 2016.

Year-on-year, rental volume in September 2016 was 8.5% higher than 3,426 units rented in September 2015.

Meanwhile, HDB rents decreased by 0.3% month-on-month.

According to SRX Property Price Index for HDB Rentals, rents decreased by 0.3% from August 2016 to September 2016.

HDB 3 Rooms, HDB 4 Rooms, HDB 5 Rooms and Executive decreased by 0.7%, 0.1%, 0.4% and 0.8% respectively.

According to SRX Property Price Index for HDB Rentals, rents in September 2016 were down by 4.5% YoY.

Rents in September 2016 were down 10.8% compared to its peak in August 2013.

Rents in mature and non-mature estates decreased by 0.5% and 0.1% respectively.

Year-on-year, rents of mature estates in September 2016 slipped 4.6% from September 2015 while that of non-mature estates dropped 4.3%.