Condo rents increase by 7.3% in May

Condo rents increased by 7.3%, HDB rents by 7.9% year-on-year.

Rents increased year-on-year in May, according to latest SRX data.

Condo rents increased by 7.3% whilst HDB rents increased by 7.9% year-on-year.

Compared to April’s figures, condo rents increased by 0.3% whilst HDB rents increased by 0.7% in May.

Rental volumes increased to 4,603 units, or by 1.7% from 4,527 units month-on-month, when it came to condominiums. This translated to a 39.3% increase from the same month last year.

On the other hand, rental volumes for HDB flats decreased to 1686 units, or by 0.9% from 1,702 units month-on-month in May. This translated to a 30.4% increase from the same month last year.

“The rental market remained robust last month despite fewer foreigners entering Singapore and restrictions being tightened on house viewings during the heightened alert period,” said OrangeTee Senior Vice President of Research & Analytics Christine Sun.

“Based on ground observations, the market seems to be propped up by tenants renewing their leases and new tenant groups entering the market. For instance, more Singaporeans are renting in recent months and many are HDB homeowners who have sold their flats recently and are renting a place temporarily. They did not wait to find a replacement home before selling their flats as they wish to capitalise on the rising resale prices and try to sell their flats at a good price quickly,” she added.

Follow the link s for more news on

condominium rents

HDB rents

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia