HDB rents dip 3.4% in Q1 2022

Inflation, however, might push rents to increase by 7-10% for the whole year.

Approved applications to rent out HDB flats dipped by 3.4% to 10,189 units in Q1 2022, data from the Housing and Development Board (HDB) showed.

The decline in rents, however, may not be for long as demand for rentals is being pushed by would-be homebuyers who were priced out of the market and ec flat owners renting in the interim while they wait for the completion of their new flats, property expert, OrangeTee, said.

OrangeTee said they are also seeing renewed demand from returning foreigners, particularly Malaysians and work pass holders, following the easing of s safe management measures are further lifted.

Foreigners would likely rent in areas near the causeway, the northern region (Yishun, Sembawang, and Woodlands), and the western part of Singapore (Jurong), according to the expert.

Lastly, OrangeTee cited escalation inflationary pressures to push rents in the coming months.

"We estimate that overall rents may rise by 7% to 10% in 2022, while volumes may increase to between 46,000- and 48,000- units," the expert concluded.

Follow the link for more news on

OrangeTee

HDB rents

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia