WHILE recent steep hikes in rents for private housing might drive some expatriates and companies away from Singapore, they are but one consideration in the Republic’s attractiveness as a business hub, say analysts. 

Skyrocketing rents have alarmed the expat community, with many expressing shock and unhappiness over how their housing costs have shot up. 

Data from the Urban Redevelopment Authority (URA) shows private home rents in the past three years have surged by 41.7 per cent.  Much of the increase came in 2022 alone, when rents rose by 29.7 per cent, noted Knight Frank head of research Leonard Tay.