Non-landed private homes rental volume up

RENTALS as well as leasing volumes fell month-on-month (m-o-m) in September 2016 for both non-landed private homes and HDB flats, according to the latest flash estimates released by SRX Property on Wednesday morning.

SRX’s rental index for private apartments and condos fell 0.6 per cent in September 2016 over August 2016 after easing 0.5 per cent m-o-m in August 2016. Executive condo owners may sublet their unit after fulfilling the MOP. Upcoming executive condo launches include Yio Chu Kang EC, Inz Residence EC, Choa Chu Kang EC, Anchorvale Lane EC,  while existing ones include The Terrace EC, Brownstone EC, The Vales EC, Parc Life EC , Sol Acres EC, The Visionaire, Bellewoods EC, Signature at Yishun, The Criterion EC and Northwave EC.

The index has contracted 4.6 per cent year on year (y-o-y) from September 2015 and is also 17.6 per cent below its January 2013 peak.

According to SRX Property, an estimated 3,716 non-landed private homes were rented in September 2016 – a m-o-m decline of 14.2 per cent from the 4,329 units leased in August 2016. However, on a y-o-y comparison, last month’s rental volume was up 8.5 per cent from the 3,426 units leased in September 2015.

In the HDB flat segment, SRX Property’s rental index fell 0.3 per cent m-o-m in September 2016, after slipping 0.8 per cent m-o-m in August 2016. The index has shed 4.5 per cent y-o-y from September 2015 and is 10.8 per cent below its August 2013 peak.

SRX Property estimates that 1,491 HDB flats were rented in September 2016 – translating to declines of 11.3 per cent from the previous month and 14.4 per cent from a year ago.

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