HDB, Condo Rentals Decline in November Seasonal Lull
HDB, Condo Rentals Decline in November Seasonal Lull
Condo rental prices rose by 0.2% month-on-month (MoM), driven by a 0.8% increase in the Outside Central Region (OCR), although prices in the Core Central mRegion (CCR) and Rest of Central Region (RCR) fell by 0.6% and 0.1%, respectively. Market analysts expect condo rental prices to remain stable.
市場分析師預計公寓租金將保持穩定。
In November 2024, both condominium (condo) and HDB rental volumes in Singapore declined, coinciding with the typical year-end lull in leasing activity, 99.co and SRX reported.
2024年11月，新加坡的公寓（condo）和HDB租賃量均有所下降，這與租賃活動在年末的典型淡季相吻合，99.co和SRX報道。
Despite the drop in volumes, rental prices for both markets increased slightly, reflecting stable demand.
儘管租賃量下降，但兩個市場的租金略有上漲，反映出需求穩定。
Condo rental prices rose by 0.2% month-on-month (MoM), driven by a 0.8% increase in the Outside Central Region (OCR), although prices in the Core Central mRegion (CCR) and Rest of Central Region (RCR) fell by 0.6% and 0.1%, respectively.
公寓租金環比上漲0.2%，主要受到外圍中央地區（OCR）上漲0.8%的推動，儘管核心中央地區（CCR）和中央地區其他部分（RCR）的價格分別下降了0.6%和0.1%。
Year-on-year (YoY), overall condo rental prices declined by 1.3%, with decreases of 2.4%, 1.4%, and 1.5% in CCR, RCR, and OCR, respectively.
按年計算，整體公寓租金下降了1.3%，CCR、RCR和OCR分別下降了2.4%、1.4%和1.5%。
About 5,010 condo units were rented in November, representing a 12.3% decline from October's 5,712 units and 10.1% below the five-year average for November.
11月份約有5,010個公寓單位被出租，較10月份的5,712個單位下降了12.3%，比11月的五年平均水平低10.1%。
However, volumes were still 0.8% higher than the same period last year.
然而，租賃量仍比去年同期高出0.8%。
HDB rental prices increased by 0.4% MoM, with Mature Estate and Non-Mature Estate rents rising by 0.2% MoM and 0.5% MoM, respectively.
HDB租金環比上漲0.4%，成熟地區和非成熟地區的租金分別上漲0.2%和0.5%。
Amongst room types, 4-room flats saw a 1.3% increase, whilst rents for five-room and Executive flats fell by 0.7% and 1%, respectively.
在不同房型中，四房公寓的租金上漲了1.3%，而五房和行政公寓的租金分別下降了0.7%和1%。
HDB rental prices were up 4.2% YoY, with gains of 4.6% YoY in Mature Estates and 3.5% YoY in Non-Mature Estates. Rental volumes for HDB flats dropped 13.8% MoM to 2,155 units, marking a 20% YoY decline and 18.3% below the five-year average for November.
組屋租金同比上漲4.2%，成熟地區上漲4.6%，非成熟地區上漲3.5%。組屋的租賃量環比下降了13.8%，降至2,155個單位，較去年同期下降20%，低於11月份五年平均水平的18.3%。
"The condo and HDB rental market was subdued in Nov 2024 due to seasonal factors," Mark Yip, CEO, Huttons Asia said in a note.
"由於季節性因素，2024年11月公寓和組屋的租賃市場較爲低迷，" Huttons Asia首席執行官Mark Yip在一份報告中表示。
Some renters took the opportunity to upgrade from HDB flats or co-living spaces to condos due to relatively stable condo rents.
一些租客趁機從組屋或共居空間升級到公寓，因爲公寓租金相對穩定。
"Leasing activities tend to slow down during the year-end period, when many expatriates are on holiday. However, some expatriates may choose to renew their leases or enter into new lease agreements in December as they would want to secure a home before the new year begins," OrangeTee said in a separate commentary.
OrangeTee在另一份評論中表示："租賃活動在年末期間往往會放緩，由於許多外籍人士在度假。然而，一些外籍人士可能會選擇在十二月續租或簽訂新租約，因爲他們希望在新年開始之前找到一個家。"
Market analysts expect condo rental prices to remain stable, supported by improving employment conditions.
市場分析師預計，由於就業條件的改善，公寓租金將保持穩定。
"With firmer demand from an improving employment market, rents of private homes in 2024 might be unchanged from 2023's levels. HDB rents are estimated to increase up to 4% in 2024, lower than the 10.1% seen in 2023," Yip said.
"由於就業市場需求加大，2024年私人住房租金可能與2023年持平。預計2024年組屋租金將上漲至4%，低於2023年的10.1%，" Yip表示。
For OrangeTee, condo rental prices could see growth of 2% to 4% next year, reflecting stronger business sentiment and expatriate hiring amidst a stabilising global economy.
根據OrangeTee的說法，公寓租金明年可能增長2%至4%，反映出更強的業務信心和外籍僱傭在全球經濟穩定的背景下。
