Price, demand for HDB rental assets decline for the first time in 3 years: PropertyGuru

Asking prices for HDB rental properties was at 0.95%.

The median asking prices for HDB rental properties on real estate expert, PropertyGuru, dipped quarter-on-quarter in the third quarter (Q3) of 2022 for the first time in three years.

According to the Singapore Property Market Report in Q3 2022, PropertyGuru said the prices at 0.95% is modest but it signifies that the HDB rental market is decelerating.

PropertyGuru assessed that build-to-order flat supply is being restored and construction delays are lessened, which gradually diminishes the demand and prices for HDB rental flats.

Despite this trend, the property expert found that singles and unmarried couples are still looking for space and privacy to rent.

Similar to past quarters, mature HDB estates have highest rental yield percentages, with Bedok and Geylang moving up a few spots as top performing HDB estates per rental yield.

“Resale and rental prices have risen significantly in these neighbourhoods. However, many still seek to rent in these HDB estates as they strike a good balance between connectivity, nearby amenities, and cost,” said PropertyGuru.

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