Private and HDB rents fall again last month: SRX

[princess_morbucks]

http://www.todayonline.com/singapore...last-month-srx

SINGAPORE — The leasing market in Singapore continued to soften last month, with rents of both public and private homes posting another month of decline, Singapore Real Estate Exchange (SRX) said today (Dec 10).

Rents of non-landed private homes fell 0.8 per cent month-on-month in November, similar to the slip registered in October and the 10th consecutive month of decline.

All three sectors saw rents decreasing last month, with the Outside Central Region (OCR) posting the biggest fall of 1.2 per cent. The Rest of Central Region (RCR) slipped by 0.7 per cent, while the Core Central Region (CCR) dipped 0.3 per cent.

The number of new leases signed last month fell by 11 per cent from the previous month to 2,892 contracts.

In the Housing and Development Board (HDB) segment, rents fell 0.1 per cent last month following the 0.5 per cent drop in October.

Three- and five-room flats saw rental prices falling by 0.2 and 1 per cent, respectively. That of four-room flats remained unchanged, whole executive flats registered a 3.5 per cent increase in rents.

Rental volume last month was down 1.5 per cent to an estimated 1,596 new leases.

[k00L]

OCR rental drop is quite large, reflecting tenants demand for OCR cannot keep up with the huge supply coming onboard, and direct competition of OCR HDB rental market.
With rental continue dropping and US Fed rising interest rate by sep 2015, investor-driven OCR purchases are becoming hard to justify

[teddybear]

As I mentioned before, OCR private property prices going to CRASH (due to property cooling measures)!!!

OCR rental drop is quite large, reflecting tenants demand for OCR cannot keep up with the huge supply coming onboard, and direct competition of OCR HDB rental market.
With rental continue dropping and US Fed rising interest rate by sep 2015, investor-driven OCR purchases are becoming hard to justify

[Ringo33]

As I mentioned before, OCR private property prices going to CRASH (due to property cooling measures)!!!

You did mentioned 2 years will crash, then extend to 6 years. So whats the latest? CRASH by how much? LOL

Sounded very much like the below statement leh. anyhow insert numbers but cannot back up with FACTS.

From the 2008 to now 2014, the income of general population has gone up by may be only 10%?

Even if take the 80%-90% percentile who are likely to buy OCR properties like those in JURONG, their income probably only gone up by at most 20%?

So, how to justify property prices in JURONG went up from $500 psf in 2008 to $1700+ psf like JGateway? It means JURONG over-priced right?!

[reporter2]

http://www.businesstimes.com.sg/real...tive-month-srx

Condo rents in Singapore down for 10th consecutive month: SRX

By Andrea Soh

[email protected]@AndreaSohBT

10 Dec


RENTAL prices for condominiums continued to slide for the 10th consecutive month in November, according to latest flash estimates by SRX.

Compared to October, the price index for non-landed private residential property fell 0.8 per cent. Year-on-year, rents in November were lower by 5.3 per cent.

Private apartments in the suburbs posted the greatest decline in November, with rent falling by 1.2 per cent compared to October. Those in the city and city fringes saw rental prices fall by 0.3 per cent and 0.7 per cent respectively.

The number of units rented also fell by 11 per cent from October. Some 2,892 apartments were rented in November, down from 3,251 a month earlier.

This, however, is 9.8 per cent higher than the 2,633 units rented a year ago.

Rental for HDB apartments fell as well, dipping 0.1 per cent in November, with three-room and five-room flats seeing declines of 0.2 per cent and one per cent respectively. There was no change for four-room flats, while rental for executive flats rose by 3.5 per cent.