Public Can Use Median Rent As A Guide Before Agreeing To Rent

Source : TODAY, Tuesday, September 11, 2007

Letter from Foo-Ho Yoke Ming
Deputy Director (Branch Operations) for Director (Housing Administration) Housing & Development Board

I refer to the letter from Mr Ricky Teo, “Rents seem different” (Sept 5).
P.S : Under Comments, in the Label "Median Rent From Subletting Of Flat" Wednesday, August 29, 2007

In July 2007, HDB released figures on median sub-letting rent, as an additional guide and help to prospective tenants and those interested to rent out their flats.

The median rent is a central measure of overall rents in the respective towns.

It excludes the influence of outlier cases and is closer to the typical rent paid.

In view of the wide range of flats available for sub-letting, some flats with special attributes will command a premium above the median level.

Conversely, other flats with less favourable attributes will command a lower rent, below the median level.

The public could use the median rent as a guide and do their own research before entering into a rental agreement.

The rent figures are based on the amounts agreed between flat-owners and sub-tenants as indicated in their sub-letting application to HDB.

It is not estimated rents by the flat- owners.