4% year-on-year, according to a report by Huttons and published by theThe slowdown is attributed to a shift in tenant preferences, with many opting to move into condos. Additionally, the supply of available flats during this period was lower, contributing to the deceleration in rent increases.This uptick in launches was largely driven by HDB upgraders—residents who sell their flats but choose to rent temporarily to avoid paying the Additional Buyer’s Stamp Duty on a second property.
Looking ahead, Huttons estimates that the number of HDB flats rented out in 2024 will be approximately 37,500, a decrease of 4.2% compared to the 39,138 flats rented in 2023.Alarming amount of burnt incense at corridor, neighbour allegedly laughs as debris enters other units