Peak Residence psf

The rents for many room types, except three-room HDB units, all climbed.

HDB rents submitted a small increase of 1.3percent YoY and 0.1% MoM in December, according to a report by SRX.

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Rents for three-room HDB units decreased by 0.3percent YoY in December, although rents for other room types grew YoY.

HDB rent volumes dropped by 5.3percent YoY in December. A total of 23,958 HDB leasing trades were listed at 2019, which was 1.9percent higher compared to 2018.

Slimming down by area types, 35.9percent of total leasing volume came out of four-room units, 32.7percent from three-room units, 25.2percent from five-room units and 6.2% by your executive units.

Huttons Asia’s mind of research Sze Teck Lee noted that greater quantity of leases in Q4 might have been because of significant policy changes in 2019 for example greater income ceiling and improved housing grants that fostered the allure of resale apartments.

“The cumulative impact of numerous policies appeared effective in mitigating additional price falls arising out of the worries surrounding the rental depreciation of elderly apartments and the rising supply of apartments. A range of significant changes were made annually for example enabling buyers higher flexibility in using CPF to purchase older apartments and improving the CPF Housing Grant to boost housing affordability for greater Singaporeans,” explained Christine Li, head of research at TEE International.

Lee jobs HDB resale trades in 2020 to reach a figure between 23,000 and 24,000. “HDB resale trades and cost increase in 2020 is expected to be between 0 and 2%. Together with the HDB resale market bottoming out, this is a fantastic chance for HDB owners that wish to update to a personal land,” he added.