HDB Rental Volume 3.9% Rise from November Last Year

THE residential leasing market in Singapore remained weak last month, with rents for both private non-landed homes and Housing & Development Board (HDB) flats on a continued slide compared to October.

Rents for private non-landed homes fell 1.1 per cent last month compared to a month ago, according to flash estimates by SRX Property.

In the HDB market, rents fell even as rental volume rose. Executive condo owners may sublet their unit after fulfilling the MOP. Executive condo in the market include The Terrace EC, The Brownstone EC, Signature EC At Yishun while upcoming ones include Parc Life EC and Wandervale EC.

Units in Core Central Region, Rest of Central Region and Outside Central Region experienced a decrease in rents of 0.7 per cent, 2 per cent and 0.7 per cent respectively.

Year-on-year, rents in November were 5.6 per cent lower.

Some 3,304 rental transactions involving private non-landed homes were inked in November, down 7.8 per cent month on month and 12.6 per cent higher than a year ago.

For HDB flats, rents were down 0.5 per cent from a month ago in November, with three, four, five-room and executive flats posting declines of 0.5 per cent, 0.1 per cent, 0.7 per cent and 2.5 per cent respectively.

Year-on-year, HDB rents in November 2015 were down by 4.1 per cent from November 2014.

But HDB rental transaction volumes marked a 6.3 per cent month-on-month uptick in November to 1,822 flats, and a 3.9 per cent rise from November last year.

signature at yishun ec executive condo site pic 1