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.

 

• 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.

 

• 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.

 

• 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.

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.

 

• 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:

 

• 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.

• 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.

• 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%. 

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%.

2. 423 HDB resale transactions in April 2020, 

representing a 78.3% decrease from March 2020.

• 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 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.