Rental volumes shrank in August for both non-landed private homes and HDB flats compared to July, according to SRX’s latest flash data released on Wednesday.RENTAL volumes shrank in August for both non-landed private homes and HDB flats compared to July, according to SRX’s latest flash data released on Wednesday.
However, compared to the five-year average volume for the month of August, last month’s figure was only 1.6 per cent lower.Christine Sun, head of research and consultancy at OrangeTee & Tie, said that the month-on-month decline in condo rental volume is consistent with what was observed over the past two years, with volume dipping 4.4 per cent in August 2018 and 8.1 per cent in August 2017.
The smallest proportion came from the priciest units – those above S$10,000 – which accounted for just 1.4 per cent. Year on year, condo rents in all regions increased: CCR by 4.4 per cent, RCR by 3.1 per cent, and OCR by 1.7 per cent. By flat sizes, four-room units were the most popular last month, making up 36.4 per cent of total HDB rental volume. Three-room flats accounted for 35.4 per cent of volume, five-room flats took up 22.2 per cent, while executive flats accounted for 5.9 per cent.
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