HDB rents slipped 2.1% in December

Large flats led the decline.

Rents for HDB flats slipped 2.1% year-on-year in December, a report by SRX Property revealed today.

Rents posted a marginal 0.4% decline on a month-on-month basis. The slip was led by weaker rents for 4, 5-Room and Executive flats, which posted rent declines by 0.7%, 0.6% and 0.3% respectively. 3 Room flats on the other hand saw a pick-up in rents by 0.4%.

Rents in December are 4.4% down compared with its peak in August 2013. An estimated 1,619 HDB flats were rented in December 2014. This represents a slight 4% decrease from 1,687 units rented in November 2014.

On a year-on-year basis, rental volume last month is 2.3% higher compared to 1,582 units rented in December 2013.