Mr Chua Kheng Wee Louis asked the Minister for National Development based on the latest data from HDB for approved rental flat applications, how have the average rents by (i) town and (ii) flat type changed in the third quarter of 2022 compared to the equivalent period in 2019, 2020 and 2021 respectively.
Mr Desmond Lee: HDB publishes median rental figures on the HDB InfoWEB. Median rentals are a better indication of open market rental price trends, as average rentals could be affected by outliers.
The median rentals by town and flat type in the third quarter of 2019 to 2022 are given in Table 1. From 3Q2019 to 3Q2022, there has been an increase in the median rentals for all flat types across towns, ranging from $300 to $1,150.
Ministry of National Development
28 November 2022