How rents fared at HDB flats
By Lin Zhiqin
/ The Edge Property |
The overall median subletting rent for 3-room HDB flats peaked at $2,086 in 1Q2014 before falling by about 5% to $1,980 in 2Q2015. Rents for 4- and 5-room flats peaked earlier in 3Q2013 at $2,503 and $2,706 respectively before falling by 5% to $2,377 and $2,573 in 1Q2015 respectively and staying flat in 2Q2015.
In the downtrend, certain HDB towns have fared better than others with smaller or no declines in rent while a few managed to see an increase in median rent (see Table 1). The most resilient town overall was Kallang/Whampoa and Jurong East. Rents for 3-room flats in Kallang/Whampoa had stayed flat and those for 4-room flats rose by 2%. In Jurong East, rents for 4- and 5-room flats dipped by only 2% between 3Q2013’s peak and 2Q2015.
Bukit Panjang was the least resilient town with rents falling by 12% for 4-room flats and 13% for 5-room flats, followed by Woodlands which saw rents falling by 9% for both 4- and 5-room flats.
Rents for 4-room flats were the most resilient among the top-performing towns while rents for 3-room flats were the most resilient in the bottom five towns.
Table 1: Most and resilient towns for HDB flat rental
Note: Overall rent for each flat-type computed based on the simple average of median rent across all towns
Source: HDB, The Edge Property
This article appeared in The Edge Property Pullout of Issue 688 (August 3) of The Edge Singapore.
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