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More people renting condominiums compared to HDB flats

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Have some property to rent out? It might be much easier to find tenants if you own condominiums.

According to SRX Property flash estimates released on Thursday (Aug 10), private residential rents increased while rents of HDB flats slipped in July.

Rents of condominiums and apartments increased 0.2 per cent month-on-month in July, while year-on-year, the prices were down 2.7 per cent. They were 18.9 per cent down compared to their peak in January 2013.

An estimated 4,834 units were released for rent last month, an 11.8 per cent increase from the June release and 4.5 per cent higher from July, 2016.

For HDB, rents decreased 0.1 per cent from June 2017, and were down 4.2 per cent from July last year. They were 13.6 per cent down from their peak in August 2013.

As many as 1,835 HDB flats were rented out last month, a 6.7 per cent increase from the 1,720 units rented in June.

Rental volume, however, increased from last July by 1.2 per cent.

Check out these sites if you're looking for rooms or flats to rent.

This article was first published on The Straits Times.