”. It’s certainly true that 2022 has been a better year for landlords, but is the rental market as “crazy” as reported? We did some digging into rental rates over the years, and found some interesting details:To get a wider contextual view, we looked at rental rates for 3 to 5-room flats and monitored their gross rental yield over the years.
This huge jump may not come as a surprise to some given the news about surging rents, however, we must add that the jump between Q2 and Q3 is quite alarming. Between 2021 to early 2022, rental rates steadily increased. And like HDB rents, the jump between 2022-Q2 and Q3 is also quite stark. Overall, the disparity has grown since the start of 2021. This isn’t a new phenomenon though. In fact, this happened before between 2016 Q4 – 2018 Q3. The disparity then dropped till 2020 Q4 and started to rise again across the board.
HDB rents went up almost two-fold between 2007-2008. While it’s hard to imagine rents going up by that magnitude now, it’s certainly not impossible considering it has happened before.For HDB flats, rental yields haven’t even returned to their previous levels but it’s rising sharply That being said, the latest data in Q3 has drastically increased rental yields, with 3-room flats at 7.2 per cent – 0.74 per cent away from the 7.92 per cent seen in 2008.
Source: News Formal (newsformal.com)
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