HDB rents dip 0.4% MoM but rise 4.2% YoY in August

Rents fell across most room types and all estates.

HDB rents dipped by 0.4% MoM but increased 4.2% YoY in August, according to 99.co and SRX.

Rents decreased across most room types and all estates on a sequential basis.

Mature estate rents dipped by 0.5% whilst non-mature estate rents decreased by  0.4%.

Meanwhile, 3-room, 5-room, and Executive rents decreased by 0.9%, 0.1%, and 0.3%, respectively. Rents for 4-room remained the same.

Year-on-year, however, rents increased across most room types and all estates and room types.

Rents increased by 3.8% YoY for 3-room, 4.2% YoY for 4-room, 4.6% YoY for 5-room, and 5.9% YoY for Executive.

Mature and Non-Mature Estate rents increased by 4.5% YoY and 3.9% YoY, respectively.

Rental volumes also fell in August, declining by 12.3% MoM and 13.4% YoY to 2,626 HDB flats. 

The latest record was also 4.3% lower than the five-year average volume for August.

Of the total volume,  32.5% was from 3-room, 39.3%  from 4-room,  22.7% from 5-room and  5.6% from Executive.