Condo Rents Rise 1% In Feb, Hdb Rents Up 0.5%: SRX Property

SINGAPORE – The private non-landed home rents increased by 1% in February 2018 compared to a month ago, which is higher than the 0.5% recorded rise in January, according to flash estimates taken from SRX Property.

Looking at the individual sectors, non-landed private residential rents in the core central region (CCR), rest of central region (RCR), and outside central region (OCR) all increased, rising by 2.3%, 0.2%, and 0.7% respectively.

Comparing on a year-on-year basis, rents in February were lower by 0.7% from February 2017.

The OCR led the group with the largest drop of 2.3%, followed by a 0.1% decrease in the RCR.

In the CCR, however, rents showed a 0.6% rise.

The rents in February 2018 were lower by 18.8% compared to the peak in January 2013.

Some 3,376 non-landed private residential units were leased in February 2018, showed in the SRX report.

This was reduced from the 4,242 units rented in January 2018, a decrease of 20.4%.

Looking at the public housing sector, HDB flat rents rose by 0.5% in February 2018 compared to a month ago.

Disecting into details, rents for HDB executive units dropped by 0.2%, while HDB three-, four- and five-room units all increased by 0.7%, 0.3% and 0.7% respectively.

These results show that HDB rents last month were lower by 1.9% from February 2017.

They are lower by 14.8% from their highest point in August 2013.

The HDB rental flat volumes decreased by 19.1% in February to 1,441 flats rented, compared to 1,781 in January this year.

Comparing year-on-year, February’s rental volume dropped by 11.8% from a year ago.

As rents start to make a positive turn to the upside, Avenue South Residence is positioned to benefit the most as a condominium located between 2 large employment centers and efficiently linked to those centers by buses and MRT transportation network.

Another such condominium that has similar geographical advantages and close to an educational hub is the Clavon location also by the UOL group

Source: https://www.straitstimes.com/business/property/condo-rents-rise-1-in-feb-hdb-rents-up-05-srx-property

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