April 2020

NLP Rents Increase 0.2% while HDB Rents Decrease 0.5% in March 2020

15 Apr 2020

A. Non-Landed Private Residential Rental Market

 

1. March 2020 rents increase 0.2% from February 2020. RCR and OCR rents rise by 0.3% and 0.8% respectively, while CCR rents decrease by 0.8%.

 

non landed private rental price index 2020 march



 

non landed private rental price index by region 2020 march


 

  • Year-on-year, rents increase 3.2% from March 2019.
  • Rents are down 15.0% from the peak in January 2013
  • Rents in all regions increase year-on-year: CCR by 2.4%, RCR by 4.0% and OCR by 3.0%.

2. Volumes increase 10.9% month-on-month. An estimated 5,244 units are rented in March 2020 as compared to 4,730 units in February 2020.

 

non landed private rental volume 2020 march


 

  • Year-on-year, rental volumes are 5.9% lower.
  • Volumes are 7.6% higher than the 5-year average volume for the month of March.
  • Breaking down by regions, in March 2020, 40.6% of the volume comes from OCR, 32.6% comes from RCR and 26.8% comes from CCR.


B. HDB Rental Market


1. March 2020 HDB rents decrease 0.5% from February 2020. 3 Room, 4 Room and 5 Room rents fall by 0.5%, 0.7% and 1.0% respectively, while Executive Room rents rise by 1.3%. According to Town Maturity, Mature Estates and Non-Mature Estates rents decrease by 0.3% and 0.8% respectively.

 

hdb rental price index 2020 march



 

hdb rental price index by flat type 2020 march


 

  • Year-on-year, rents increase by 1.5%.
  • Rents are down 13.7% from the peak in August 2013.
  • All room types experience rent increases year-on-year: 3 Room by 1.6%, 4 Room by 1.2%, 5 Room by 1.6% and Executive by 0.9%.
  • Mature Estates and Non-Mature Estates rents increase year-on-year by 1.4% and 1.7% respectively.
hdb rental price index by estate type 2020 march
hdb rental price index by estate type table 2020 march


 

2. Volumes increase 15.4% month-on-month. An estimated 2,157 HDB flats are rented in March 2020 versus 1,869 units in February 2020. 

 

hdb rental volume 2020 march
  • Year-on-year rental volumes decrease 11.3% from March 2019.
  • Volumes are also 4.7% lower than the 5-year average volume for the month of March.
  • Breaking down by room types, in March 2020, 34.5% of total rental volume comes from 3 Room, 32.6% from 4 Room, 26.5% from 5 Room and 6.4% from Executive.

 

 

 

NLP Resale Prices and Volumes Increase 0.1% and 17.0% Respectively in March 2020

14 Apr 2020

1. CCR and RCR prices decrease by 0.1% and 1.7% while OCR prices increase by 1.3% in March 2020.

 

non landed private resale price index 2020 march
non landed private resale price index by region 2020 march

According to the SRX Price Index for Non-Landed Private Residential Resale:

  • Month-on-month, overall prices increase by 0.1% over February 2020.
  • Year-on-year, overall prices increase by 0.4% over March 2019.
  • In terms of regions, year-on-year, RCR prices decrease by 0.8% while CCR and OCR record price increases of 1.0% and 0.7%.

2. An estimated 709 units were resold in March 2020. This is a 17.0% increase, compared to 606 units resold in February 2020.

non landed private resale volume 2020 march
  • Volumes are 13.0% lower than in March 2019, and 21.0% lower than the 5-year average volume for the month of March.
  • Breaking down by regions, in March 2020, 57.5% of the volume comes from OCR, 22.9% comes from RCR and 19.6% comes from CCR.

3. The highest transacted price for a resale unit in the month is achieved at $10.5 million at The Ritz-Carlton Residences.

  • In RCR, the highest transacted price is a unit at Pebble Bay resold for $4.4 million.
  • In OCR, the highest transacted price is a unit at Flamingo Valley resold for $3.3 million.

4. Overall Transaction Over X-Value (T-O-X) is NEGATIVE $2,000 in March 2020. 

This represented no change as compared to February 2020. The median T-O-X for Non-Landed Private Residential measures whether people are overpaying (POSITIVE T-O-X) or underpaying (NEGATIVE T-O-X) the SRX X-Value estimated market value.

non landed private resale median transaction over xvalue 2020 march
non landed private resale tox by district 2020 march
  • District 9 (Orchard / River Valley) posted the highest median T-O-X at POSITIVE $40,000, followed by District 8 (Farrer Park / Serangoon Rd) at POSITIVE $35,000.
  • District 20 (Ang Mo Kio / Bishan / Thomson) posted the lowest median T-O-X at NEGATIVE $62,000, followed by District 15 (East Coast / Marine Parade) at NEGATIVE $30,000.
  • T-O-X data only include districts with more than 10 resale transactions with X-Value.

 

 

 

March 2020 HDB Resale Prices Decrease 0.3% on Higher Volumes

09 Apr 2020

1. HDB resale prices decrease by 0.3% in March 2020 over February 2020.  3 Room and Executive prices decline by 0.9% and 0.2%, respectively while 4 Room and 5 Room prices rise by 0.2% and 0.1%, respectively. Mature Estates prices decrease by 0.8% while Non-Mature Estates prices increase by 0.1%, as compared to February 2020.

 

hdb resale price index 2020 march
hdb resale price index by property type 2020 march
hdb resale median price 2020 march

According to the SRX Property Price Index for HDB Resale:

  • Prices in March 2020 are 0.7% higher from preceding year.
  • March 2020 prices are 13.1% lower than the peak in April 2013.
  • Year-on-year, except for 3 Room which decreases by 1.8%, all room types experience price increases: 4 Room by 1.2%, 5 Room by 1.6% and Executive by 0.4%.
  • Year-on-year, Mature Estates prices decrease by 1.2% while Non- Mature Estates prices increase by 2.0%.
hdb mature and non mature estate price index 2020 march
hdb mature and non mature estate price index2 2020 march

2. 1,949 HDB resale transactions in March 2020,

 representing a 16.8% increase from February 2020.

hdb resale volume 2020 march
  • Year-on-year, resale volume in March 2020 is 17.6% higher than the previous year.
  • Breaking down by room types, in March 2020, 42.0% of the volume comes from HDB 4 Room, 24.3% from 5 Room, 23.9% from 3 Room and 7.2% from Executive. The rest are from 2 Room.

3. The highest transacted price for a resale flat in the month is achieved at $1,232,000 

by a 5 Room unit at The Pinnacle@Duxton; In Non-Mature Estates, the highest transacted price is achieved at $818,000 by an Executive Room unit at Toh Guan Road.

  • In March 2020, there are five HDB resale flat transacted for at least $1,000,000.

4. Overall median Transaction Over X-Value (T-O-X) is ZERO in March 2020.

 This represented a decrease of $2,000 from February 2020. The median T-O-X for HDB measures whether people are overpaying (POSITIVE T-O-X) or underpaying (NEGATIVE T-O-X) the SRX Property X-Value estimated market value.

hdb median transaction over xvalue 2020 march
  • HDB 3 Room and Executive record NEGATIVE $1,000 and NEGATIVE $8,000 median T-O-X, while HDB 4 Room and 5 Room record POSITIVE $1,900 and ZERO median TOX.
  • Bukit Merah posts the highest median T-O-X at POSITIVE $7,500 in March 2020, followed by Jurong East at POSITIVE $6,000.
  • Bishan posts the lowest median T-O-X at NEGATIVE $21,500, followed by Clementi at NEGATIVE $13,500.
  • T-O-X data only include HDB towns with more than 10 resale transactions with X-Value.

5. An estimated 7,691 flats will become eligible to join the HDB resale market in the next three months,

 based on SRX data, as these units approach their respective official 5-year Minimum Occupation Period.

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