Hike in HDB and Condo Rents; Demands for Bigger Flats Still High in Landlord’s Market

As per the stats obtained from the month of October, rents for private Singapore Condo and HDB flats increased in October with the rise in demand. This is possibly the outcome of recently implemented cooling measures as more tenants these days are looking forward to HDB flats at comparatively lower rental prices.

An exponential rise of 1.8% in HDB rents has been experienced in the market during October month. However, it was 3.3% in the month of September. On the other side, the executive flats are experiencing a rise of 6.1% in rents.
A larger number of HDB flats were rented in the month of October. The volume has further increased by 10.3% leading to the estimated number of 1995 units in comparison to only 1809 units rented out in September.

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HDB Resale Flat Experience Considerable Price Hike in November

As per a recent market update for November month, prices of HDB resale flats experienced a hike for the 29th straight month. As a result, a higher number of units exchanged hands with the recently applied cooling measures. If we compare the trends of October month with November month, the prices of HDB resale flats grew much faster with a change from 0.5% to 0.6%. On yearly basis, prices increased by almost 10%.

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