SINGAPORE – Rents for private non-landed homes dipped by 0.4 per cent in July compared to June, while those for Housing Board flats inched up 0.5 per cent, according to flash estimates from SRX Property out on Thursday (Aug 11).
SRX also revised down its estimate for June’s month on month change from flat to a 0.1 per cent decrease.
Year on year, July rents of condominiums and private apartments are down by 4.8 per cent from July 2015. Rents in the prime districts held up better, dipping 1.6 per cent while those in the city fringe and outside the central region fell by 7 per cent and 6.3 per cent respectively. Executive condo owners may sublet their unit after fulfilling the MOP. Recent executive condo launches include Treasure Crest and Northwave while existing ones include The Terrace EC, Brownstone, The Visionaire EC, Parc Life EC , Waterwoods EC, Signature at Yishun, Skypark Residences, Wandervale EC, The Vales EC, The Criterion EC, The Amore EC, Bellewaters EC, Bellewoods EC.
In terms of rental transactions, SRX estimates that volumes fell by 5 per cent to 4,100 non-landed units, which represents a 3.4 per cent decline from June last year.
As for HDB rents, the rental rise was due to three- and four-room flats which posted increases of 1.3 per cent and 0.8 per cent respectively. The bigger five-room and executive flats saw rental declines of 0.8 per cent and 0.4 per cent respectively.
HDB rental volume in July fell 6.1 per cent from June to 1,653 transactions, and was down 10.3 per cent from a year ago, said SRX.