Signs of stabilisation in HDB Market as rental growth eases to 10%

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pstrongIn 2022, rents rose by 35% YoY./strong/p pThe open market rents for HDB flats have stabilised in 2023, with rental growth easing to 10% from a high of 35% in 2022./p pThe Ministry of National Development (MND) attributed the 2022 rental growth to “the easing of border restrictions and recovery of non-resident rental demand.

The open market rents for HDB flats have stabilised in 2023, with rental growth easing to 10% from a high of 35% in 2022.

Since then, the government has implemented a suite of measures, including the ramping up the supply of rental flats under the Parenthood Provisional Housing Scheme . To support more families renting HDB flats or bedrooms in the open market, the MND revealed that the government will introduce the PPHS Voucher Scheme, which will run for a year from July 2024.“Given the voucher quantum of $300 per month, eligible families will receive up to $3,600 if they qualify for the full year of support.

Meanwhile, MND shared that HDB is also working to double the supply of PPHS flats from about 2,000 units to about 4,000 units by 2025....there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

 

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