Private condo rents dip 1.3% as HDB rents creep up 0.2%

Full year, condo rents were down 6.2%.

Private condo rents decreased 1.3% in December 2016 compared to the previous month, SRX Property Price Index noted.

Non-landed private residential units rents in CCR and RCR decreased by 1.7% and 2.6% respectively, on the other hand OCR remain unchanged. Rents in the said month was 19.9% down compared to its peak in January 2013. On a yearly basis, December rents were down 6.2%.

Meanwhile, SRX said an estimated 3,691 Non-landed Private Residential units were rented in December 2016. This represented a 2.2% decrease from 3,775 units rented in November 2016.

It's a different story for the HDB rental market, which saw a 0.2% rent increase in December compared to the previous month. SRX noted that rents were down 3.7% on a yearly basis.