Condo and HDB rents stagnant in February as leasing volumes drop: SRX

SINGAPORE - The rental market for non-landed private properties and HDB flats in Singapore remained unchanged in February, with volume in both markets recording a double digit percentage drop month on month, going by flash estimates from real estate portal SRX on Wednesday .

In the smaller HDB rental market, rents too were unchanged in February, after rising 0.2 per cent in January. The HDB three-room and five-room flats recorded rent increases of 0.8 per cent and 0.1 per cent respectively, whereas rents for four-room flats fell 0.3 per cent, and executive rents dropped 1.8 per cent.

According to SRX, an estimated 3,597 non-landed units were rented last month, a 22.1 per cent plunge from 4,618 units in January. Year on year, rental volume last month was 6.8 per cent lower than the 3,860 units rented in February 2018.

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