9,627 Units Leased in a Single Month: Singapore Private Residential Rental Market Hits Record High

Singapore Non-Landed Private Home Rental Volume Hits All-Time High in July! Rents Up 1.6% MoM

Singapore's private residential leasing market saw a noticeable pickup in July.

According to flash estimates, non-landed private residential rents in Singapore rose by 1.6% month-on-month (MoM) in July 2026. At the same time, rental transaction volume surged significantly to reach 9,627 units, setting a new all-time monthly record.

The concurrent increase in rents and rental volumes also reflects a notable post-June school holidays recovery in leasing activity across the island.

RCR Leads Growth with 2.2% MoM Rent Increase

Across market segments, non-landed private residential rents in the CCR, RCR, and OCR all registered gains in July.

Among them, the Rest of Central Region (RCR), representing mid-tier private homes, posted the strongest performance with rents climbing 2.2% MoM, continuing its leading streak from June.

In the Outside Central Region (OCR), which represents mass-market private homes, rents rose by 1.1% MoM.

Meanwhile, the Core Central Region (CCR), representing prime private homes, reversed its previous month's decline to climb 0.8% MoM in July.

In other words, all three major market segments recorded rental gains in July, albeit at varying paces.

Rents Up 2.5% YoY, Surpassing Last Year Across All Regions

Taking a broader view, overall non-landed private residential rents in Singapore increased by 2.5% year-on-year (YoY) compared to July 2025.

Of these, CCR rents rose 2.6% YoY, leading the gains among all three regions.

RCR rents climbed 2.4% YoY, while the OCR recorded a 2.2% YoY increase.

This indicates that overall rental levels across prime, city-fringe, and suburban residential districts are all currently tracking higher than they were a year ago.

July Rental Volume Surges 38.1% to Record Monthly High

Compared to the modest uptick in rents, the true highlight in July was the substantial surge in leasing transactions.

Data shows that 6,973 non-landed private residential units were leased in June.

In July, leasing volume jumped swiftly to: 9,627 units

Representing a month-on-month increase of: 38.1%

This was not merely a pronounced rebound, but an all-time monthly record for Singapore's non-landed private home leasing market.

Substantial MoM Jump Outpaces Historical Averages

Compared to the same period last year, rental volume this July was up by 10.6%.

When measured against the five-year average for July, volume was also higher by: 19.5%

As such, this sharp surge in leasing volume was not simply due to a lower base in June.

Both on a YoY basis and against the five-year average, rental market activity in July remained exceptionally robust.

OCR Accounts for Nearly 40% of Rental Transactions

In terms of geographical distribution, the OCR continued to contribute the highest share of leasing deals in July.

The Outside Central Region (OCR) accounted for 39.2% of all leasing transactions, showing that mass-market private homes remain the largest source of demand in the leasing market.

The Rest of Central Region (RCR) accounted for 33.2%, while the Core Central Region (CCR) made up 27.7%.

Together, the three regions contributed to July's record-breaking total of 9,627 rental transactions.

What Drove the Surge in Rental Activity in July?

The sharp rise in rental transactions in July likely reflects the return of market activity to normalised levels following the end of the June school holidays.

Consequently, the steep 38.1% MoM jump does not necessarily signal a structural surge in tenant demand, as strong seasonal dynamics played a key role.

However, another important factor behind the concurrent rental growth is the tightening supply of newly available rental stock.

With a relatively modest number of private home completions recently, fewer newly completed units have entered the rental market.

With fewer new rental units coming onto the market and tenant demand holding steady or even firming up, competition among tenants for existing stock naturally grew keener, providing steady support for rental prices.

Conclusion: Record-High Volume, But Supply Trends Warrant Closer Watch

In July 2026, Singapore's non-landed private residential rental market flashed two distinct signals: overall rents climbed 1.6% MoM, while rental volume surged 38.1% MoM to 9,627 units, rewriting the all-time monthly high.

Across sub-markets, rents across the CCR, RCR, and OCR rose across the board, led by the RCR with a standout 2.2% MoM increase.

While July's massive volume rebound was partly driven by a seasonal post-June school holidays recovery, the limited pipeline of newly completed private homes means that incoming rental inventory may remain constrained going forward.

For landlords and property investors, the focus moving forward extends beyond whether leasing volumes can sustain high levels—the interplay between incoming housing supply, tenant demand, and rental trajectories will be far more critical to watch.

If new rental listings remain tight and tenant demand stays resilient, Singapore's private home rental market could well continue to enjoy firm underlying support.