Condo rentals plunge 25.5% in February amidst seasonal slowdown

Leasing volume hit a five-year low of 4,995 units as Chinese New Year slowed the market to a crawl.

Condo rental volumes in Singapore fell to an estimated 4,995 units in February, down 25.5% from 6,708 units in January, according to the latest 99-SRX Media Flash Report.

This is also 1.3% lower than February 2025, and 4.5% below the five-year February average. the report said.

Overall condo rental prices decreased 0.2% month on month with prices in the Rest of Central Region (RCR) and Outside Central Region (OCR) falling by 0.5% and 0.4%, respectively, whilst the Core Central Region (CCR) recorded a 0.8% increase.

Year on year, overall prices rose 2%, with gains of 2.3% in the CCR, 1.5% in the RCR, and 1.6% in the OCR.

Mr. Luqman Hakim, Chief Data & Analytics Officer at 99.co, noted that the February decline reflected seasonal patterns around festive periods such as Chinese New Year, when leasing activity typically slows.

Regional breakdown for February 2026 showed 35.6% of rentals in the OCR, 33.8% in the RCR, and 30.6% in the CCR.

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