In light of the recent events, the number of sales for HDB flats and private apartments may have reached its bottom in June during the period of the circuit breaker but, rents continued to go down further. This data has been put forward by market observers as a rejoinder to the flash data revealed by Singapore property portal SRX Property.
According to the report, the total volume of private residential properties that belong to the non-landed category handed out on lease witnessed a proliferation of 1%; that is, its numbers escalated from 2,853 units in April to 2,881 units in May. Coming to the rental volume of the private flats in concern, it was still 45.7% lesser than what it was a year ago and 38.8% lower when compared to the five-year average volume for the same month.
As far as the HDB rental market is concerned, the number of leased flats tumbled by 4.2% to 1,147 in May from 1,197 in April. When contrasted against the figures of 2019, the rental volumes for HDB flats fell by approximately 45.1% this year and dropped by 42% corresponding to the 5-year average volume for the month of May.