HDB rental prices slipped 2.9% in June

Rental volumes fell 5.8% to 1,735 flats from 1,841 rented units in May.

HDB rental prices fell 2.9% YoY and was down 16% from its August 2013 peak, SRX Property revealed. The SRX Property Price Index found also found that HDB rentals dipped 0.8% MoM from May.

According to the firm, rentals for HDB 3 Rooms, 4 Rooms, and HDB Executive slipped 0.7%, 1.6% and 0.9% MoM respectively, whilst HDB 5 Rooms increased by 0.1%.

Meanwhile, both HDB rentals for mature and non-mature estates slipped 1.3% and 0.3% MoM, respectively. HDB mature estate rents fell 3.1% YoY whilst non-mature estate rents slipped 2.6% YoY.

SRX Property noted that about 1,735 HDB flats were rented in June which is a 5.8% slip from 1,841 units in May. HDB rental volumes slipped 5.1% YoY in June.

Meanwhile, the firm noted that condominium rental prices dipped 0.2% YoY in June. It fell 19.3% from its peak in January 2013.

According to the firm, the core central region (CCR) and the rest of the central region (RCR) prices saw a 0.8% and 0.2% slip, respectively. Meanwhile, outside central region (OCR) prices remained unchanged YoY.

SRX Property noted that about 4,637 condo units were rented in June which is a 1% dip from 4,682 rented units in May. Despite this, rental volumes rose 0.6% YoY from 4,609 rented units in June 2017.