LEASING volumes for condominiums recovered in June, rising 16.8 per cent month on month after declining in May.
Rents, however, were flat amid a mixed performance across all regions, based on flash estimates released by SRX and 99.co on Thursday (Jul 18).
Rents in the Core Central Region (CCR) fell the most by 1.2 per cent, followed by rents in the suburban areas, or the Rest of Central Region (RCR), which shed 0.3 per cent. In contrast, rents in the Outside Central Region (OCR) rose 0.8 per cent.
Year on year, condo rents were down 4.7 per cent. All regions registered price decreases, with the CCR, RCR and OCR down 5.7 per cent, 4.6 per cent and 3.9 per cent, respectively.
The number of units rented stood at 6,020 units in June, versus 5,155 units in May. Year on year, rental volumes were up 3.5 per cent, but 4.2 per cent lower than the five-year average volume for the month of June.
By region, 37.5 per cent of total volumes came from the OCR, followed by 32.9 per cent from the RCR and 29.6 per cent from the CCR.
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Leasing demand in the Housing and Development Board (HDB) market was more muted in June, with slight recoveries in both rental prices and volumes.
HDB rents were up 0.5 per cent from the same period a month earlier and rose 5.5 per cent year on year.
Notably, rents in mature estates rose 1.2 per cent, while rents in non-mature estates inched down 0.2 per cent. Compared to the same period last year, rents in mature and non-mature estates were up 5.7 per cent and 5.2 per cent, respectively.
Among room types, executive flat rents appreciated the most by 1.6 per cent on the month, followed by three-room flats at 1.2 per cent and four-room flats by 0.1 per cent.
Year on year, all room types recorded rent increases. Bigger HDB flats led price gains, with executive flat rents rising the most at 7.3 per cent, followed by five-room flats, which advanced 5.8 per cent. Three-room flat rents were up 5.2 per cent, while four-room flats were up 5 per cent.
HDB rental volumes, meanwhile, increased 2.7 per cent on the month to 2,629 flats, compared with 2,560 units in May 2024.
Year on year, however, leasing volumes fell 13.5 per cent, and were 12.4 per cent lower than the five-year average volume for June 2024.
By room type, four-room flats had the highest leasing volume at 37.2 per cent, followed by three-room flats at 33.9 per cent, five-room flats at 23.5 per cent and executive flats at 5.5 per cent.
