In contrast, HDB rental prices continue to surge, reaching new all-time highs.
SINGAPORE: Condo rental prices dipped in April 2024, marking a nine month decline since July 2023, according to 99.co and SRX. This downward trend comes after a brief respite in March.
He noted, “The effect of this surplus supply might continue to suppress Condo rental prices in the near future.” Mr Hakim suggests that the increasing rental prices for HDB properties could be due to their appeal as a viable alternative to Condo rentals.In April 2024, condo rents decreased by 0.4% compared to March 2024. While rents in the Core Central Region increased by 0.1%, those in the Rest of Central Region and Outside Central Region decreased by 0.2% and 0.5% respectively.
Rental volumes saw a 3.1% month-on-month increase, with an estimated 5874 units rented in April 2024 compared to 5699 units in March 2024. Year-on-year rental volumes were 4.4% higher.Despite this increase, volumes remained 6.0% lower than the 5-year average for April. Notably, 35.4% of the total volumes were from OCR, 32.1% from RCR, and 32.4% from CCR.April 2024 witnessed a 0.3% increase in HDB rents compared to March 2024. Rents in Mature Estates rose by 0.
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