HDB Rental Prices jumped in Q2 2012

After breathing briefly in Q1 2012, HDB rent prices continued to increase in the second quarter of 2012. Renting a 4-room HDB flat now costs 2,374 Singapore Dollars per month, a 6% jump from 2,238 SGD per month of Q1 2012. There was also a dramatic jump for 3 room flats from 1,841 SGD per month of Q1 2012 to 1,966 SGD per month of Q2 2012 (almost a 7% jump).  Year on year change in the rental prices for HDB flats was 13% for 3-room flats and 12% for 4 room flats.

These numbers are from HDB's Median Subletting Rents by Town and Flat Type web service from where you can follow actual transaction prices for HDB flats. As of second quarter of 2012, the cheapest 5 towns to rent a 3-room HDB flat were:
1 - Woodlands  - $1,700 SGD per month
2 - Jurong East  - $1,800 SGD per month
3 - Jurong West - $1,800 SGD per month
4 - Bukit Panjang - $1,800 SGD per month
5 - Hougang - $1,800 SGD per month



As of second quarter of 2012, the cheapest 5 towns to rent a 4-room HDB flat were:

1 - Bukit Panjang - $2000 per month
2 - Sembawang - $2050 per month
3 - Woodlands - $2050 per month
4 - Yishun - $2190 per month
5 - Geylang - $2200 per month

Some towns are playing to the $3,000 per month level. The most expensive town to rent a 4 room HDB in Singapore is Queenstown now with $2,950 per month, a jump from $2,600 per month. Bukit Merah ($2,800 per month), Central ($2,800 per month), Clementi ($2,550 per month) and Bishan ($2,550 per month) are the most expensive places now to rent a 4 room HDB flat.

Median HDB rental by unit type per quarter - Source : HDB

   As you can see from the graph here, HDB rents became more and more expensive since 2007. Just 5 years ago, average rental price for a 4 room flat was below 1,500 SGD. Today even 2,000 SGD per month will not be enough for a super old HDB in a vertical slum.