Rents for Singapore private non-landed homes plunged by 0.4% last month compared to June, while rents for HDB flats edge up by 0.5%, according to SRX Property latest flash estimates.
On yearly basis, condominiums and private apartments rents in July are down by 4.8% from July last year. In Singapore prime districts, rentals held up better by dipping 1.6%, while those outside the central region and city fringe area dropped by 6.3% and 7% respectively.
SRX estimates the rental transactions volumes dropped by 5% to 4,100 non-landed total units, which shows a 3.4% fall from June 2015.
For HDB, rentals climb due to 3 and 4 room flats which recorded 1.3% and 0.8% increases respectively, while rents of executive flats and 5-room flats saw a declines of 0.4% and 0.8% respectively.
Rental volume of HDB fell 6.1% to 1,653 transactions in July from June, showing 10.3% down from a year ago, SRX noted.