Condo rental volumes slide 9.8% as May momentum breaks

Leasing activity remained above the five-year average.

Condominium rental volumes in Singapore declined 9.8% month-on-month in May, even as activity remained higher on an annual basis, according to flash estimates from 99.co and SRX.

An estimated 5,853 condo units were rented in May 2026, down from 6,492 units in April. On a year-on-year basis, volumes were 4.2% higher compared to 5,616 units in May 2025.

Rental activity also remained 7.4% above the five-year average for May.

By region, the Outside Central Region (OCR) accounted for 36.1% of total rental transactions, followed by the Rest of Central Region (RCR) at 33.5% and the Core Central Region (CCR) at 30.4%.

In volume terms, this translated to around 2,113 units in the OCR, 1,958 units in the RCR, and 1,782 units in the CCR.

99.co and SRX said the May figures are flash estimates based on past transaction trends and may be revised as more rental transactions are confirmed and recorded.

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