{"id":72379,"date":"2024-01-18T13:37:56","date_gmt":"2024-01-18T05:37:56","guid":{"rendered":"https:\/\/www.99.co\/singapore\/insider\/?p=72379"},"modified":"2024-01-19T11:58:02","modified_gmt":"2024-01-19T03:58:02","slug":"december-2023-rental-market","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/december-2023-rental-market\/","title":{"rendered":"December 2023 condo and HDB rental market: A comprehensive analysis"},"content":{"rendered":"
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In a recent flash report published by our very own Data team, we get a detailed glimpse into the latest trends in Singapore’s rental market, focusing on condominiums and Housing & Development Board (HDB) flats. This analysis provides valuable insights for stakeholders in understanding the dynamics of rental prices and volumes as the year closes.<\/p>\n

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Overview of the rental market growth<\/h3>\n

December 2023 witnessed notable developments in the rental market. Condominium rental prices saw a moderate increase of 2.6%, while HDB flats experienced a more robust growth of 10.1%. These figures indicate varying degrees of demand and market adjustments in different housing sectors.<\/p>\n

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Detailed analysis of the condo rental market<\/h2>\n

The condo rental market showed intriguing trends in December 2023. While rental prices saw a slight decrease of 0.5% from November 2023, the year-on-year growth stood at 2.6%. Rental volumes increased significantly by 14.0% compared to November, totalling 5,644 units. However, this was 11.6% lower than the same period last year and 12.6% below the 5-year average for December.<\/p>\n

Additional reading<\/em><\/strong>\u00a0more:<\/em><\/strong>\u00a0Condo rental fourth monthly drop, HDB rental at an all-time high<\/a><\/em><\/p>\n

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A regional breakdown revealed varied rent adjustments across different areas.<\/p>\n

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In-depth look at the HDB rental market<\/h2>\n

The HDB rental market also exhibited significant changes. Rents increased by 1.0% from November 2023, and the year-on-year growth was a striking 10.1%. The rental volume of 2,891 flats in December was 7.4% higher than in November, 12.8% higher year-on-year, yet marginally 0.1% lower than the 5-year average for December.<\/p>\n

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Regional variations in HDB rents were also noted, reflecting different demand levels across the city.<\/p>\n

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