May 2020

April 2020 NLP and HDB Rents Decrease 0.9% and 0.2% on Lower Volumes During Circuit-Breaker

13 May 2020

A. Non-Landed Private Residential Rental Market


1.   April 2020 rents decrease 0.9% from March 2020. CCR, RCR and OCR rents decrease by 0.1%, 1.6% and 1.0%, respectively.

 

non landed private rental price index 2020 april


 

non landed private rental price index by region 2020 april


 

  • Year-on-year, rents increase 1.8% from April 2019.
  • Rents are down 15.7% from the peak in January 2013
  • Rents in all regions increase year-on-year: CCR by 2.4%, RCR by 1.7% and OCR by 1.4%.

2. Volumes decrease 36.5% month-on-month. An estimated 3,068 units are rented in April 2020 as compared to 4,829 units in March 2020.

 

non landed private rental volume 2020 april


 

  • Year-on-year, rental volumes are 40.6% lower.
  • Volumes are 32.3% lower than the 5-year average volume for the month of April.
  • Breaking down by regions, in April 2020, 41.5% of the total volumes are from OCR, 30.3% from RCR and 28.2% from CCR.

 

B. HDB Rental Market
 

1.   April 2020 HDB rents decrease 0.2% from March 2020. Mature Estates rents decrease 0.9% while Non-Mature Estates rents increase 0.7%. According to room types, 3 Room and Executive Room rents fall by 0.3% and 1.6% respectively, while 4 Room rents increase by 0.1% and 5 Room rents remain stable.

 

hdb rental price index 2020 april



 

hdb rental price index by flat type 2020 april


 

  • Year-on-year, rents increase by 1.3%.
  • Rents are down 14.1% from the peak in August 2013.
  • Except for Executive Room rents which decrease by 0.7%, all room types experience rent increases year-on-year: 3 Room by 1.5%, 4 Room by 1.0% and 5 Room by 1.3%.
  • Mature Estates and Non-Mature Estates rents increase year-on-year by 0.3% and 2.3% respectively.
hdb rental price index by estate type 2020 april



 

hdb rental price index by estate type table 2020 april



2.   Volumes decrease 36.7% month-on-month. An estimated 1,260 HDB flats are rented in April 2020 versus 1,990 units in March 2020.

 

hdb rental volume 2020 april


 

  • Year-on-year, rental volumes decrease 41.3% from April 2019.
  • Volumes are also 39.3% lower than the 5-year average volume for the month of April.
  • Breaking down by room types, in April 2020, 36.1% of the total volumes are from 4 Room, 30.8% from 3 Room, 26.5% from 5 Room and 6.6% from Executive Room.

 

 

 

NLP Sees 0.2% Price Drop Amidst a Massive 57% Volume Drop During Circuit-Breaker

12 May 2020

1. RCR and OCR prices decrease by 0.5% and 0.8% while CCR prices increase by 1.4% in April 2020. According to the SRX Price Index for Non-Landed Private Residential Resale:

 

non landed private resale price index 2020 april
non landed private resale price index by region 2020 april
  • Month-on-month, overall prices decrease by 0.2% over March 2020.
  • Year-on-year, overall prices decrease by 0.7% over April 2019.
  • In terms of regions, year-on-year, RCR and OCR prices decrease by 0.1% and 1.6%, respectively, while CCR prices increase by 0.4%.

2. An estimated 309 units were resold in April 2020. This is a 57.3% decrease, compared to 723 units resold in March 2020.

non landed private resale volume 2020 april
  • Volumes are 62.2% lower than in April 2019, and 66.8% lower than the 5-year average volumes for the month of April.
  • Breaking down by regions, in April 2020, 58.1% of the volumes are from OCR, 23.2% from RCR and 18.8% from CCR.

3. The highest transacted price for a resale unit in the month is achieved at $27.7 million at Ardmore Park in CCR.

  • In RCR, the highest transacted price is a unit at The Waterside resold for $3.8 million.
  • In OCR, the highest transacted price is a unit at Hillion Residences resold for $2.7 million.

4. Overall Transaction Over X-Value (T-O-X) is NEGATIVE $11,000 in April 2020.

 This represented a $9,000 decrease as compared to March 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 april
non landed private resale tox by district 2020 april
  • District 26 (Mandai / Upper Thomson) posted the highest median T-O-X at POSITIVE $52,500, followed by District 1 (Boat Quay / Raffles Place / Marina) at POSITIVE $5,000.
  • District 10 (Tanglin / Holland / Bukit Timah) posted the lowest median T-O-X at NEGATIVE $50,000, followed by District 20 (Ang Mo Kio / Bishan / Thomson) at NEGATIVE $35,000.
  • T-O-X data only include districts with more than 10 resale transactions with X-Value.

 

 

 

April 2020 HDB Resale Volumes Plummet by 78% Amid Circuit-Breaker

08 May 2020

1. HDB resale price index marginally lower in April 2020 over March 2020. Mature Estates prices decrease by 0.3% while Non-Mature Estates prices increase by 0.2%, as compared to March 2020.  In terms of room type, 3 Room, 4 Room and Executive prices decline by 1.5%, 0.2% and 1.8%, respectively while 5 Room prices rise by 0.2%. 

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

According to the SRX Property Price Index for HDB Resale:

  • Prices in April 2020 are 1.0% higher than the preceding year and 0.04% lower than March 2020.
  • April 2020 prices are 13.2% lower than the peak in April 2013.
  • Prices for most room types remain higher than a year ago: 4 Room by 0.9%, 5 Room by 2.1% and Executive by 0.2%. Prices for 3 Room flats, however, decreased by 1.8% year-on-year.
  • Year-on-year, Mature Estates prices decrease by 0.9% while Non- Mature Estates prices increase by 2.2%.
hdb mature and non mature estate price index 2020 april
hdb mature and non mature estate price index2 2020 april

2. 423 HDB resale transactions in April 2020, 

representing a 78.3% decrease from March 2020.

hdb resale volume 2020 april
  • Year-on-year, resale volume in April 2020 is 78.1% lower than the previous year.
  • Breaking down by room types, in April 2020, 40.9% of the volume comes from HDB 4 Room, 26.7% from 5 Room, 22.5% from 3 Room and 9.0% from Executive. The rest are from 2 Room.

3. The highest transacted price for a resale flat in the month is achieved at $1,010,000 

by a 5 Room unit at SkyTerrace @ Dawson in Queenstown; In Non-Mature Estates, the highest transacted price is achieved at $713,800 by a 5 Room unit at Lake Vista @ Yuan Ching in Jurong West.

  • In April 2020, there is only one HDB resale flat transacted for at least $1,000,000.

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

This represented no change from March 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 april
  • HDB 3 Room records a NEGATIVE $200 median T-O-X while Executive records a POSITIVE $3,000. Both HDB 4 Room and 5 Room record ZERO median TOX.
  • Bishan posts the highest median T-O-X at POSITIVE $17,500 in April 2020, followed by Choa Chu Kang and Jurong West at POSITIVE $6,000.
  • Bukit Merah posts the lowest median T-O-X at NEGATIVE $20,000, followed by Bedok at NEGATIVE $10,000.
  • T-O-X data only include HDB towns with more than 10 resale transactions with X-Value.

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