Oct 13, 2016

    Rentals of non-landed private homes, HDB flats fall

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

    SRX's rental index for private apartments and condos fell 0.6 per cent in September over August - after easing 0.5 per cent m-o-m in August.

    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 - a m-o-m decline of 14.2 per cent from the 4,329 leased in August.

    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, after slipping 0.8 per cent m-o-m in August.

    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 - translating to declines of 11.3 per cent from the previous month and 14.4 per cent from a year ago.