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 is Kopar At Newton

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

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