According to SRX, the rental index for non-landed private residential units rose 0.2% in May 2018 compared to April 2018.
In terms of rental volume of private non-landed residential units, overall numbers have fallen to 4,674 in May 2018 compared to the previous month (4,831) and the same month last year (4,929).
The average number private non-landed residential leases inked over the last 12 months is approximately 4,880 per month.
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The highest number of rental deals continue to be inked in the Outside Central Region (1,610 in May 2018), compared to Core Central Region (1,046) and Rest of Central Region (1,273).
The index for Core Central Region properties stayed flat while that of the Rest of Central Region and Outside Central Region rose 0.4% and 0.2% respectively.
In the Core Central Region, the flat performance was a reversal of two consecutive quarters of decline (in Mar and Apr). Compared to the same month last year (-0.5%), the flat performance is also an improvement.
In the Rest of Central Region, the increase of 0.4% is an improvement from -1.1% in April 2018. Compared to the same month last year (-0.6%), the growth is an improvement.
In the Outside Central Region, the increase of 0.2% is slight moderation from the previous month (0.5%), but an improvement from the same period last year (-0.5%).
Across the board therefore, there has been an increase compared to the same period last year.
HDB Rental market
In the HDB rental market, the index as measured by SRX made a slight recovery of 0.2% compared to the previous month.
This may be signal a turning point but the recovery is very slight.
Compared to the same month last year, there has been a fall of 2.7%.
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Total volume of deals inked is estimated at 1,885 in May 2018.
This is a fall from 2,142 in the previous month and from 1,916 in the same period last year.
Median rents were highest in the Bukit Merah area at 2,340 per month, closely followed by units in Bishan (2,300 per month).
At the lower end are rental deals in Yishun (1,700 per month), Woodlands (1,775) and Choa Chu Kang (1,75), reflecting the characteristic of these neighbourhoods as being further from the city centre.
The monthly change in the rental index for non-mature estates was -0.3% in May 2018, worse than 0% in the previous month and a reversal from 0.5% in the same period last year.
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Rates for rental deals inked in mature estates saw an increase of 0.6% in May 2018, an improvement from 0.2% in the previous month but a slight decline from 1.1% in the same month last year.
REITs Asia Pacific 2018 conference
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