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HDB, private apartment rents up slightly in January: Property index

The number of HDB flats rented went up 5.4 per cent from the previous month, while the number of private apartments rented spiked 15 per cent.

SINGAPORE: Rental prices for Housing and Development Board (HDB) flats climbed slightly by 0.7 per cent from the previous month in December, while rents for private apartments went up 0.2 per cent, according to a local property index.

Year-on-year, rental prices for HDB flats in January fell 3.1 per cent, and were down 8 per cent compared to its peak in August 2013, flash estimates from SRX Property, released on Friday (Feb 12), showed.

All HDB flat categories were up, with Executive flats posting the highest increase with 1.4 per cent, it added.

The number of HDB flats rented went down 5.4 per cent in January, with an estimated 1,670 flats rented, down from 1,766 units the previous month.

PRIVATE APARTMENT RENTAL PRICES SEE SLIGHT RISE

Rental prices for non-landed private properties inched up by 0.2 per cent from the previous month. Year-on-year, rents were down 5.5 per cent, according to SRX Property.

This increase comes on the back of a 0.4 per cent increase in December last year, marking a second consecutive month of stable prices after declining for 10 consecutive months since February 2015, it said.

Private apartments in the Rest of Central Region and Outside Central Region saw increases in rents of 1.2 per cent and 1.3 per cent, respectively, while units in Core Central Region declined in rents by 2.4 per cent.

Rental volume spiked 15 per cent, with an estimated 3,411 units rented, up from 2,966 the previous month.