Local private housing rents up 34.4% for last year
Feb 1, 2023
By   Internet
  • City News
  • Private Housing Rents
  • HDB Rents
  • Housing Market
Abstract: Local rents for private homes and HDB flats continued to climb last month, with more units rented out, unofficial estimates show.

Estimates published by property websites 99.co and SRX show that private flat rents rose by 3 per cent month-on-month in December last year, the 24th consecutive month of increases, and by 34.4 per cent year-on-year. Flat rents rose in all regions, with month-on-month increases ranging from 2.1 per cent to 3.9 per cent.


An estimated 6,345 flats were let last month, up 26.6% month-on-month and down 13.4% year-on-year.


For the HDB market, overall rents rose by 2.8% month-on-month and climbed by 28.5% year-on-year last month.


Apart from a 0.6 per cent month-on-month drop in rents for flat units, all other types of HDB rents rose, by between 1.5 per cent and 4.3 per cent.


An estimated 2,513 HDB flats were let last month, 5% more than the previous month and 21.3% less year-on-year.