Singapore residential rents stabilising after correction as leasing activity recovers in Q2
Rents are expected to stay broadly flat in 2025; smaller units face pressure as new supply comes online while larger homes remain in demand
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[SINGAPORE] The private residential rental market is showing signs of stabilisation after a recent correction, with leasing activity picking up and overall rents edging higher, though gains are uneven across regions and unit types.
Rental volume, excluding executive condominiums, rose 2.8 per cent on quarter to 21,330 units in the second quarter. This was 3.2 per cent higher than the year-ago quarter and 1.2 per cent above the five-year Q2 average from 2020 to 2024, according to a report by Savills Singapore.
The rental index of private homes rose 0.8 per cent on quarter in Q2, extending from the 0.4 per cent quarterly increase in Q1, data from the Urban Redevelopment Authority (URA) showed.
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