Written Answer by Ministry of National Development on quarter-on-quarter change in HDB rental price and average rentals by flat type in the last five years

Oct 3, 2022

Ms He Ting Ru: To ask the Minister for National Development for each quarter in the last five years, what is the quarter-on-quarter change in (i) the HDB rental price index and (ii) average rentals by flat type for the letting of HDB flats in the open market.

Answer:

HDB does not publish a rental price index. It publishes median rental figures on the HDB InfoWEB. Median rentals are a better indication of open market rental price trends, as average rentals could be affected by outliers.

2    The median rentals by flat type for the letting of HDB flats in the open market are given in Table 1. Overall, there has been an increase in the median rental for all flat types from 3Q2017 to 2Q2022 of $100 to $500.

Table 1: Median Rentals by Flat Type

Notes: The price fluctuations for 1-room flats are more volatile as the volume of rental transactions is low. The percentage changes for 1-room flats in 1Q2018 and 2Q2018 are unavailable as there was no renting out of 1-room flat in 1Q2018.