Both private and HDB flat rents fall
The weakness in both private and Housing Board flat rents persisted last month going by the latest flash data from SRX Property yesterday. It showed rents for condominiums and apartments slip by 0.1 per cent last month compared with August, while HDB rents suffered a bigger 0.9 per cent month-on-month drop.
In August, private rents dropped 0.4 per cent month-on-month and HDB rents dipped 0.2 per cent.
Private rents last month were down by 2 per cent from a year ago and 0.4 per cent year-to-date, said SRX Property. Compared to their peak in January 2013, rents are lower by 19.2 per cent.
In the HDB market, rents last month were down by 4.1 per cent from a year ago and 2.3 per cent so far this year. Compared to their peak in August 2013, HDB rents are 14.7 per cent lower. Rental volume also dropped for both types of housing.
- THE STRAITS TIMES