Observations:
A. Non-Landed Private Residential Rental Market
1. Private rents remained flat. According to the SRX Property Price Index for Non-landed Private Residential Rentals, rents remained unchanged in April 2015 compared to March 2015. Non-landed Private Residential units in CCR experienced a 0.7% increase in rents, while units in RCR and OCR saw decreases in rents of 0.1% and 0.7% respectively.
According to the SRX Property Price Index for Non-landed Private Rentals:
·Year-on-year, rents in April 2015 are down 6.0% from April 2014.
·Rents in April are 11.2% down compared with its peak in January 2013.
·Rents change in March has been revised from a 0.4% decrease to a 0.6% decrease.
2. Rental volume dropped. According to the SRX Property, an estimated 3,621 Non-landed Private Residential units were rented in April 2015. This represented a 11.9% decrease from 4,111 units rented in March 2015.
·Year-on-year, rental volume in April 2015 is 11.2% higher than 3,257 units rented in April 2014.
B. HDB Rental Market
1. HDB rents slipped in April. According to the SRX Property Price Index for HDB Rentals, rents dropped by 0.7% in April compared to March. HDB 4, 5-Room and Executive flats posted a 0.9%, 1.3% and 0.4% decrease in rents respectively, while 3 Room flats saw a slight 0.4% increase in rents.
According to the SRX Property Price Index for HDB Rentals:
·Year-on-year, rents in April 2015 are down 3.0% from April 2014.
·Rents in April are 6.2% down compared with its peak in August 2013.
According to the SRX Property Price Sub-Indices for HDB Rentals in Mature and Non-mature Estates:
·Rents remained unchanged in Mature Estates, while posting a 1.5% drop in Non-mature Estates in April 2015.
·Year-on-year, rents of Non-mature Estates in April 2015 have dropped 4.0% from April 2014.
·Year-on-year, rents of Mature Estates in April 2015 have dropped 2.0% from April 2014.
2. HDB rental volume decreased. According to the SRX Property, an estimated 1,705 HDB flats were rented in April 2015, a 13.2% decrease from 1,964 units rented in March 2015.
·Year-on-year, rental volume in April 2015 is 0.9% lower compared to 1,721 units rented in April 2014.
Source: SRX (13 May 2015)