{"id":3419,"date":"2024-08-20T16:48:07","date_gmt":"2024-08-20T08:48:07","guid":{"rendered":"https:\/\/lentorcollection.sg\/?p=4751"},"modified":"2024-08-20T16:48:07","modified_gmt":"2024-08-20T08:48:07","slug":"hdb-and-condo-rents-on-the-rise-in-july-condo-leasing-activity-surges-35-1","status":"publish","type":"post","link":"https:\/\/pinegroveresidence.sg\/navagrove\/hdb-and-condo-rents-on-the-rise-in-july-condo-leasing-activity-surges-35-1\/","title":{"rendered":"HDB and Condo Rents on the Rise in July; Condo Leasing Activity Surges 35.1%"},"content":{"rendered":"<p><span style=\"font-size: 16px\">Renting a place in Singapore got a bit pricier in July, with both HDB and condo rents climbing. According to recent data from SRX and 99.co, condo rents nudged up by 0.9%, while HDB rents saw a 1.4% increase compared to June.<\/span><\/p>\n<p>In terms of condo rentals, the market was particularly busy. Around 8,133 units were rented in July, a significant jump from the 6,020 units in June. This marks an 11.4% increase from last year and a 3.8% rise compared to the five-year average for July.<\/p>\n<p>Breaking it down by region, 38.2% of the rentals came from the Outside Central Region (OCR), 33.4% from the Rest of Central Region (RCR), and 28.4% from the Core Central Region (CCR). Condo rents saw slight increases across all regions\u20141.4% in the RCR, 1.1% in the OCR, and a modest 0.1% in the CCR.<\/p>\n<p>However, when we look at the year-over-year numbers, overall condo rents actually dipped by 5% since July 2023. Specifically, the CCR saw a 6.3% drop, and both the OCR and RCR experienced a 4.4% decrease.<\/p>\n<p>Luqman Hakim, the chief data and analytics officer at 99.co, suggested that the post-holiday return of renters and a potential price floor for landlords might be factors keeping condo rentals &#8220;more affordable.&#8221; He also noted that we might see more condos available for rent later this year, which could lead to either a price drop or stabilization, especially with new changes in the Employment Pass criteria that could affect foreign workers.<\/p>\n<p>On the HDB front, rental prices also went up in July, rising 1.4% from June. Mature estates saw a 1.5% increase, while non-mature estates were up by 1.2%. By room type, rents rose the most for three-room flats at 1.7%, followed by executive flats at 1.5%, five-room flats at 1.2%, and four-room flats at 1.1%.<\/p>\n<p>Overall, HDB rents are up 4.7% compared to last year, with mature estates gaining 4.9% and non-mature estates up 4.4%. The biggest year-on-year jump was for three-room flats, with a 5.2% increase, while five-room flats followed closely at 5.1%. Executive flats saw a 4.7% rise, and four-room flats increased by 3.8%.<\/p>\n<p>HDB rental volumes also picked up in July, with an estimated 2,993 flats rented out\u2014a 13.8% increase from June. However, this is still 11.6% lower than last year and 5.3% below the five-year average for July. In terms of room types, four-room flats made up 36.9% of the rentals, followed by three-room flats at 32.8%, five-room flats at 24.6%, and executive flats at 5.7%.<\/p>\n<p><a href=\"https:\/\/www.businesstimes.com.sg\/property\/hdb-condo-rents-rise-july-condo-leasing-volumes-surge-35-1-srx-99-co\" target=\"_blank\" rel=\"nofollow noopener\">The Business Times<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Renting a place in Singapore got a bit pricier in July, with both HDB and condo rents climbing. According to recent data from SRX and 99.co, condo rents nudged up by 0.9%, while HDB rents saw a 1.4% increase compared to June. In terms of condo rentals, the market was particularly busy. Around 8,133 units [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3420,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[],"class_list":["post-3419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-property-news"],"_links":{"self":[{"href":"https:\/\/pinegroveresidence.sg\/navagrove\/wp-json\/wp\/v2\/posts\/3419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pinegroveresidence.sg\/navagrove\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pinegroveresidence.sg\/navagrove\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pinegroveresidence.sg\/navagrove\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pinegroveresidence.sg\/navagrove\/wp-json\/wp\/v2\/comments?post=3419"}],"version-history":[{"count":0,"href":"https:\/\/pinegroveresidence.sg\/navagrove\/wp-json\/wp\/v2\/posts\/3419\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pinegroveresidence.sg\/navagrove\/wp-json\/wp\/v2\/media\/3420"}],"wp:attachment":[{"href":"https:\/\/pinegroveresidence.sg\/navagrove\/wp-json\/wp\/v2\/media?parent=3419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pinegroveresidence.sg\/navagrove\/wp-json\/wp\/v2\/categories?post=3419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pinegroveresidence.sg\/navagrove\/wp-json\/wp\/v2\/tags?post=3419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}