Private condo and HDB rental volumes down in May

Rents for both property types were both up by 0.2%.

There were less private condos rented out in Singapore as rental volumes fell by 3.2% from 4,831 units in April to 4,674 units in May, SRX Property revealed. Year-on-year, rental volume was also down by 5.2% to 4,929 units.

According to flash data, rents were up 0.2%. Unit rents in Core Central Region (CCR) remained unchanged, whilst those in Rest of Central Region (RCR) and Outside Central Region (OCR) increased by 0.4% and 0.2% respectively.

Year-on-year, edged up by 0.8%. In individual sectors, CCR, RCR and OCR posted a 1%, 0.5% and 0.8% increase respectively.

Rents in May 2018 were down 18.9% compared to the peak in January 2013.

Meanwhile, HDB rental volume dipped by 12% in May as 1,885 HDB flats were rented within the month, lower than the 2,142 units in April. Year-on-year, rental volume dipped by 1.6%.

HDB rents edged up by 0.2% from last month but dipped 2.7% from last year. Rents for HDB 3 Rooms and HDB Executive decreased by 0.4% and 0.7% respectively, whilst HDB 4 Rooms and HDB 5 Rooms increased by 1.1% and 0.2% respectively.

On a monthly basis, the rents in mature estates increased by 0.6%, whilst those in non-mature estates decreased by 0.3%. Year-on-year, the rents of both estate types slipped 2.7%.