Rental volume of HDB flats jumped 45.3% in March

Private condos rental volume also jumped 28.3% as market activity picked up in response to seasonal effects.

The rental volume of private condos and HDB flats from February to March 2018 jumped 28.3% and 45.3% respectively, SRX property revealed. For the month, there were 4,580 private condo units and 2,036 HDB flats rented.

On a year on year basis, condo rental volume dipped 4.4% whilst HDB flat rental volume fell 3.6%.

Market activity likely picked up as a response to seasonal effects. SRX Property analyst Wu Bin commented, “A variety of factors could have contributed to the increase in transaction volume. For example, February is traditionally a less active month for market transactions due to seasonal factors (e.g. festivities, public holidays etc.).”

Meanwhile, private condo rentals fell 0.2% from February figures. Rents in the Core Central Region (CCR) and Outside Central Region (OCR) fell 0.4% and 0.5% respectively, whilst those in Rest of Central Region inched up by 0.3%. Overall rents also jumped 1% from Q4 2017.

HDB flat rentals dipped by 2.4% YoY and 0.8% from February figures. HDB 3 Rooms, HDB 4 Rooms, and HDB 5 Rooms decreased by 0.7%, 1.4%, and 0.9% respectively, whilst HDB Executives increased by 2.5%.

Rents in Mature and Non-mature Estates decreased by 1.1% and 0.5% respectively.

SRX Property tracks rents in HDB 3 flats with two bedrooms in 60-65 sqm space, as well as HDB 4 and HDB 5 with three bedrooms each in 90 sqm and 110 sqm spaces respectively. Executive flats have three bedrooms in a 130 sqm space.