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Rental price for Singapore's public housing units edges up in March

Xinhua, April 15, 2015 Adjust font size:

Singapore's rental price for public housing units built by the Housing and Development Board ( HDB) edged up 0.1 percent month-on-month in March, reversing decline in prices for the first time since August 2014, said Singapore Real Estate Exchange (SRX) on Wednesday.

The rental price for public housing units in March fell 3.5 percent on a year-on-year basis. Compared with rental price at peaking point in August 2013, the rental price in March were 5.8 percent lower, said SRX Property.

Rental prices of three-and four-room flats increased 0.4 percent month-on-month, while rental prices for five-room and executive flats fell 1.3 percent and 1.8 percent respectively.

Rental prices in non-mature estates decreased 4.1 percent in March on a year-on-year basis, while that in mature estates fell 2. 9 percent.

The overall median rental prices in downtown area was 2,725 Singapore dollars in March, which was the highest in Singapore.

The rental volume of public housing units improved in March with a total of 1,838 HDB flats being rented, which is a 29.4 percent increase from 1,420 units in February. However, the rental volume in March was 3.8 percent lower on a year-on-year basis.

Public housing units are built by the Singapore government and sold to resident households with the principle of one unit for each household. About 80 percent of the resident population in Singapore live in such units. Endi