A. Non-Landed Private Residential Rental Market

  1. Private rents continued to fall. According to the SRX Property Price Index for Non-landed Private Residential Rentals, rents posted a drop of 0.8% in December compared to November.  Non-landed Private Residential units in all three sectors (CCR, RCR and OCR) saw decrease in rents of 1.2%, 0.6% and 0.3% respectively.

According to the SRX Property Price Index for Non-landed Private Rentals:

  • Rents have been falling since Feb 2014.
  • Rents have declined 6.4% since the start of the year. 
  • Year-on-year, rents in December 2014 are down 5.3% from December 2013.
  • Rents in December are 10.1% down compared with its peak in January 2013.

  1. Rental volume relatively flat. According to the SRX Property, an estimated 2,968 Non-landed Private Residential units were rented in December 2014.  This represents a slight 2% decrease from 3,026 units rented in November 2014. 

B. HDB Rental Market

  1. HDB rents continued to fall. According to the SRX Property Price Index for HDB Rentals, rents posted a decline of 0.4% in December compared to November. HDB 4, 5-Room and Executive flats posted declines in rent by 0.7%, 0.6% and 0.3% respectively. 3 Room flats on the other hand saw a pick-up in rents by 0.4%.
  • Year-on-year, rents in December 2014 are down 2.1% from December 2013.
  • Rents in December are 4.4% down compared with its peak in August 2013.

According to the new SRX Property Price Sub-Indices for HDB Rentals in Mature and Non-mature Estates:

  • Rents dropped in both Mature and Non-mature Estates in December 2014.
  • Rents of Non-mature Estates in December have dropped 6.2% from its peak in October 2012.
  • Rents of Mature Estates in December have dropped 3.3% from its peak in February 2013.
  • Year-on-year, rental volume in December 2014 is 2.3% higher compared to 1,582 units rented in December 2013.

       2. HDB rental volume declined. An estimated 1,619 HDB flats were rented in December 2014.  This represents a slight 4% decrease from 1,687 units rented in November 2014. 

  • Year-on-year, rental volume in December 2014 is 2.3% higher compared to 1,582 units rented in December 2013.