HDB rents up 25.1% in May

Fewer HDB units were rented in May compared to the previous month.

HDB rent prices jumped 25.1% in May compared to the same month in 2022, according to data from SRX and 99.co.

All room types’ rents rose from a year ago. 3 Room unit rents rose by 22.1% year-on-year; 4 Room by 25.6%; 5 Room by 27.7%;; and executive rents by 26.1%.

Compared with April, HDB rents are 1.1% higher, with all room types also reported rent increases.

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Mature and Non-Mature Estates rents increased by 1.2% and 0.9% in May, respectively, from April’s rent prices.

Meanwhile, 3 Room, 4 Room, 5 Room and Executive rents increased by 0.3%, 1.3%, 1.6% and 1.6%, respectively, over the same period.

An estimated 2,857 HDB flats were rented in May, fewer than the 3,183 units rented in April. However, this is 9.8% higher than the number of HDB flats rented in May 2022.
 
May’s HDB rent volumes are 3.2% higher than the 5-year average volume for the month of May.

By room type, 33.4% of the total volumes are from 3 Room, 37.3% from 4 Room, 23.3% from 5 Room and 6% from executive.