Singapore, 12 Feb 2020 HDB rents rose 0.8% in January in which three-room flats saw the highest growth for the month. All room rents saw an increase in rents for the month with three-room types grew 1.7%, five-room rents increased by 1.6%, while four-room rents inched up 0.6%.
"The stronger rental prices came on the back of fewer private homes being completed last year and some stock removed to make way for new housing units," noted Christine Sun, head of research at Orange Tee & Tie.
Ms Sun notes that the shrink in HDB rental volume could be attributed to the rising rental prices.
"There were also lesser Flat viewings for potential renters as landlords were on a break amidst the Lunar New year holidays," added Ms Sun.