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Singapore's housing rental prices decline in February

Staff writer |
Singapore's rental prices for public housing units and non-landed private housing units both fell in February from the previous month, the Singapore Real Estate Exchange (SRX) said.

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Rentals for homes built by private developers dipped by 0.8 percent month on month in February. The rental volume for private units also fell significantly by 25.8 percent, with an estimated 2, 586 units rented in February, less than the 3,487 units in January, SRX said.

Meanwhile, the rental prices for public housing flats built by the Housing and Development Board (HDB) dipped by 0.3 percent in February.

On a year-on-year basis, rental prices for HDB flats fell 3 percent. If compared to the peak in August 2013, the decline was 5. 5 percent.

The homes developed by private developers in Singapore are sold in a market separate from the public housing market, where the housing units are built by the 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.

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