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Rental price for Singapore's public housing units down 0.6 pct in August

Xinhua, September 9, 2015 Adjust font size:

Singapore's rental price for public housing units built by the Housing and Development Board ( HDB) fell 0.6 percent month-on-month in August, said Singapore Real Estate Exchange (SRX) on Wednesday.

The rental price for public housing units in August fell 3.6 percent on a year-on-year basis. Compared with rental price at peaking point in August 2013, the rental price in March were 6.6 percent lower, said SRX Property.

Rental prices of three- and four-room flats decreased 1.1 percent month-on-month, while rental prices for five-room and executive flats increased 0.1 percent and 0.7 percent respectively.

The rental volume of public housing units also dropped, with a total of 1,646 HDB flats being rented, which is a 6.1 percent decline from 1,752 units in July.

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