Good News for Landlords? Singapore Private Home Rental Market Heats Up as Rents Rise Steadily

Non-landed private residential rental demand remains robust, with June leasing volume surging 19% and rents edging up slightly

Singapore's private residential rental market continued to demonstrate resilience in June.

According to the latest data, overall rents for non-landed private homes rose 0.3% month-on-month (MoM) in June 2026. While the increase was modest, coupled with a notable rebound in leasing volume, it reflects sustained and steady rental demand.

RCR leads gains, CCR rents continue correction

Across the different market segments, the Rest of Central Region (RCR) emerged as the top performer. RCR private home rents rose 0.9% MoM in June, posting the highest increase among the three regions.

The Outside Central Region (OCR) followed closely with a 0.8% rent increase, demonstrating that the mass-market residential segment continues to see healthy leasing demand.

Conversely, rents in the Core Central Region (CCR) continued to adjust, falling 1% MoM in June. This was a wider decline compared to May's 0.4% dip, indicating that the prime luxury rental market remains under some pressure.

Overall, the market continues to exhibit a trend where "mass-market homes outperform luxury properties."

Notable surge in rental volume as market demand continues to unlock

Even more noteworthy than rents is the transaction volume.

A total of 6,973 non-landed private residential rental transactions were recorded islandwide in June, representing a 19% increase from May.

Compared to the same period last year, volume also grew by 4.3%, indicating that rental demand remains buoyant.

By market segment:

The OCR accounted for 38% of total rental volume, remaining the most popular rental market.

The RCR accounted for 32.8%.

The CCR accounted for 29.2%.

This also reflects that most tenants continue to prioritise well-connected residential areas with relatively accessible rental rates.

Rents maintain year-on-year growth

On a year-on-year (YoY) basis, Singapore's overall non-landed private residential rents grew by 2.4%.

Among the segments:

CCR rents rose 2.5%

RCR rents rose 2.5%

OCR rents rose 2%

Although the pace of growth is no longer as rapid as during the peak surge of recent years, overall rents have sustained moderate growth without experiencing any steep correction.

Why did volumes jump while rents only rose modestly?

The defining feature of today's market is that supply and demand are gradually returning to equilibrium.

In recent months, a substantial number of newly completed homes have attained their Temporary Occupation Permit (TOP) and entered the leasing market, visibly expanding the pool of available rental units.

At the same time, Singapore's rental demand has held steady, supported by expatriate professionals, corporate staff, and local families awaiting new homes.

Consequently, the current dynamic shows: leasing volumes continuing to climb; the market successfully absorbing newly completed supply; and expanded supply keeping rapid rental escalation in check.

In other words, the market is not suffering from a shortfall in demand, but rather seeing an expansion in supply alongside it, ushering rents into a healthier and more stable phase of development.

Market Outlook

For investors, Singapore's private residential rental market continues to offer sound fundamentals.

While rents are no longer surging at the rapid clip seen in the immediate post-pandemic years, steady tenant demand coupled with buoyant transaction activity means the market continues to deliver solid leasing performance.

With more new developments slated for completion, rental supply is expected to expand further. Rental trends are therefore more likely to trend along a path of modest, sustainable growth rather than sharp spikes.

For long-term property investors, such a relatively balanced and stable rental environment fosters healthier market dynamics and is ultimately more conducive to compounding long-term asset value.