HDB Flats For Rent In Singapore Median Price And Volume
HDB FLATS RENTAL STATISTICS 2018
|Ang Mo Kio||$1,700||$1,700||$1,700||$2,000||$2,100||$2,100||$2,400||$2,300||$2,300||*||*||*||Ang Mo Kio|
|Bukit Batok||$1,600||$1,600||$1,600||$1,900||$1,900||$1,900||$2,100||$2,000||$2,100||$2,250||$2,100||$2,200||Bukit Batok|
|Bukit Merah||$1,900||$1,900||$1,900||$2,500||$2,550||$2,500||$2,750||$2,750||$2,800||-||-||-||Bukit Merah|
|Bukit Panjang||$1,500||$1,500||$1,500||$1,650||$1,700||$1,700||$1,800||$1,800||$1,800||$2,000||$2,000||$2,000||Bukit Panjang|
|Bukit Timah||*||*||*||*||*||*||*||*||*||*||-||*||Bukit Timah|
|Choa Chu Kang||$1,530||*||*||$1,800||$1,750||$1,750||$1,900||$1,850||$1,900||$2,100||$2,000||$2,000||Choa Chu Kang|
|Jurong East||$1,700||$1,700||$1,700||$2,000||$2,000||$2,100||$2,300||$2,200||$2,300||$2,600||*||$2,500||Jurong East|
|Jurong West||$1,600||$1,600||$1,650||$2,000||$2,000||$2,000||$2,100||$2,150||$2,150||$2,200||$2,300||$2,300||Jurong West|
|Kallang/ Whampoa||$1,900||$1,900||$1,850||$2,400||$2,400||$2,500||$2,600||$2,600||$2,600||*||*||*||Kallang/ Whampoa|
|Marine Parade||$1,800||$1,800||$1,800||$2,100||$2,200||$2,200||*||*||$2,500||-||-||-||Marine Parade|
|Pasir Ris||*||*||*||$1,900||$1,900||$2,000||$2,000||$2,100||$2,100||$2,300||$2,250||$2,300||Pasir Ris|
|Toa Payoh||$1,800||$1,800||$1,800||$2,350||$2,200||$2,250||$2,480||$2,500||$2,600||*||*||*||Toa Payoh|
The table above displays the median HDB rental flat price across the 27 HDB towns between 2018Q1 to 2018Q3. The HDB rental price has remained steady and the rental volume over the years has grown to contribute a significant role in satisfying the housing needs in Singapore.
The 3-Room to 5-Room are the significant contributors to the HDB leasing market and are popular to the expatriates due to its value for money and ample living space. While HDB flats may lack in condominium like facilities, the flats are usually located at strategic areas which enjoy good transportation and amenities such as coffeeshops and supermarkets.
The new age HDB flats are well designed with good open spaces and sports a futuristic design (such as Pinnacle at Duxton). The Pinnacle at Duxton is a shining example of why expatriates prefer to rent in Central Region to take advantage of its strategic location to the Central Business District. There is a open sky garden on its rooftop that promotes outdoor activities for its residents and within walking distance to the Outram MRT Station.
The top three most expensive towns for 4-Room rentals are – Bukit Merah, Central and Queenstown.
The top three most expensive towns for 5-Room rentals are : Bukit Merah, Clementi and Queenstown. The Central town does not have any significant data due to the low transaction volume.
The highest demand for HDB rentals are closed tied to housing in the southwest region of Singapore where it enjoys good connectivity to several key business parks such as Biopolis, Metropolis, Mapletree Business Centre, Jurong East and the Central Business District. The strong demand for these locations are inline with the Government’s plan to decentralise the business activities in the Central Region to prevent bottleneck of traffic and stress on the transport system.
The Government has begun executing their plans to create three regional centres in Tampines, Woodlands and Jurong East which will create employment nearer to the heartland. The Tampines Regional Centre has matured over the years and attracted many large MNCs to operate their offices outside the typical central region. The Tampines Regional Centre has also witnessed the growth in commercial and office spaces which enjoys high occupancy rates and strong rental prices.
The Tampines Regional Centre has gained significant attention from private developers which also invested into the the shopping malls for its growing residents and visitors. The latest of the three malls is Tampines One which offers a wide range of food and beverage options, concept lifestyle shopping and supermarket
HDB Rental Volume 2018
HDB Rental Volume 2017
The first three quarters of 2018 registered a total 34,961 HDB rentals which is higher compared to the 31,608 HDB flats rentals registered in the first three quarters of 2017. The increase in the volume transactions could be a result of poorer economic outlook, high cost of purchasing private residential and increased supply of HDB flats available for rental.
The Housing Board and Development (HDB) has announced a new revision pertaining to the rental of HDB flats or bedroom(s) to non-Malaysian non-citizen tenants which has been increased to a maximum of 2 years, up from the current 1.5 years. The new regulation will apply with effect from 1st January 2019 to all HDB flat owners who intend to partially or fully lease out their Singapore property.
The new regulation benefits HDB flat owners who intend to secure tenants with a longer tenancy period with work/immigration passes which are typically valid for 2 years or longer. Unlike the private residential property, the maximum tenancy period for HDB flats where all tenants are Singapore Citizens and/or Malaysians is capped at 3 years.
The new HDB regulation does not affect the HDB flat owners who have ongoing rentals with non-Malaysian non-citizen which have obtained the HDB’s approval.
As a flat owner renting out your property, it is your duty to ensure that:
- There is no unauthorised tenant staying in the flat.
- The number of tenants are within the maximum limit.
- Your tenant does not sublet the flat to others, create nuisance, or misuse the flat
- All tenants have legal permits and passes in Singapore.
- All tenants comply with all the covenants in the lease and the provisions of the Housing & Development Act. You are responsible for all infringements (if any) committed by them.
If you are staying overseas during the lease period, you must appoint an attorney to manage the flat on your behalf and he cannot be a tenant of your flat.
The property tax will be categorised as investment property once you rent out the entire flat. For HDB flat owners who are still living in their flats, they may apply for concessionary owner-occupied tax rate for the partial rental.
CONDITIONS TO QUALIFY YOUR HDB FLATS FOR RENT
All HDB flat owners are allowed to rent out their HDB flats except for Singapore Permanent Residents. For Singapore Citizens owners to rent out their entire flats, they must fulfil the Minimum Occupancy Period of 5 Years or qualify under special circumstances.
2. Minimum Occupancy Period (MOP)
You can rent out your flat after fulfilling the 5-year MOP. If your flat is non-subsidised (purchased from the open market without a housing grant) and purchased before 30 August 2010, the MOP is 3 years.
- If you are the original purchaser, the MOP is computed from the date of purchase of the flat.
- If there has been a transfer of flat ownership, the MOP is computed from the effective date of the transfer of flat ownership, or the date the owner was included as an authorised occupier of the flat.
- After a resale of part-share, the owners have to meet a fresh MOP computed from the effective date of resale.
3. Non-Citizen Quota
You will have to consider the Non-Citizen Quota for Renting Out of Flat if any tenant renting your flat is a non-Malaysian non-citizen (Singapore Permanent Resident or foreigner). The HDB rental quota is designed to maintain a balanced ethnic mix within and across HDB estates. Malaysians are excluded from this consideration in view of our close cultural and historical similarities between both countries.
The quota is set at 8% for the neighbourhood level and 11% for the block level. This is applicable if any tenant renting the whole flat is a non-Malaysian non-citizen (Singapore Permanent Resident or foreigner) . If the quota is met, only Singaporeans and Malaysians can rent a flat in that neighbourhood/block. The quota does not apply to the rental of bedrooms.
WHO QUALIFIES FOR HDB FLATS RENTAL?
Persons who wish to rent HDB flats must belong to one of the following groups:
- Singapore Citizens.
- Singapore Permanent Residents.
- Non-citizens legally residing in Singapore who are holders of Employment Passes, S Passes, Work Permits, Student Passes, Dependant Passes, or Long-Term Social Visit Passes.
These passes must have a validity period of at least 6 months as at the date of your application Except for Malaysians, all persons who hold a Work Permit from the construction, manufacturing, marine, and process sectors are not allowed to rent the HDB flats. Furthermore, tourists are not allowed to rent HDB flats.
The HDB flat owners can verify the validity of their tenant’s documents online via the Ministry of Manpower website:
- Student Pass
- Long Term Social Visit Pass
- Work Permit
- S Pass
- Employment Pass
If you are leasing the flat to a company to house its employees, the occupiers (aka employees) must also meet the above eligibility conditions for tenants.
2. Tenancy and property ownership status
The tenants must not be in possession of any public rental HDB flats or own any HDB flats except for:
- Divorced/ Legally Separated: In this case, only one party can rent a HDB flat from the open market.
- Owners who are eligible to rent out their whole flat: The tenants must rent out their existing flat within a month upon successfully renting a HDB flat from another flat owner.
- Tenants must not be in ownership of Executive Condominium property where the 5-year MOP has not been fulfilled.
3. Maximum number of tenants allowed in HDB Flats for rent
The maximum number of tenants allowed in each flat type are as follow:
Maximum Number of Tenants and Occupants
|Flat Type||Max Tenants Allowed||Max Bedroom(s) Allowed||Max Occupants Allowed|
|1-Room||4||Not Allowed||Not Allowed|
|2-Room||4||Not Allowed||Not Allowed|
|4-Room and bigger||6||2||6|
The 1-Room and 2-Room flats are not eligible to partially lease out their bedrooms. This is to safeguard the characteristics of the low cost housing for the benefit of the lower income families.