OrangeTee, a member of the Realion Group, has released its Private Residential & HDB Rental Market Outlook for 2026, predicting stable rental prices despite challenges from increased housing stock and a cautious hiring environment. The report anticipates private rental prices to hold steady with a 2% to 3% increase, whilst HDB rents are expected to grow modestly by 1% to 3%.
The private rental market is set to face competition due to a rise in condo completions, with 7,006 units expected to obtain their Temporary Occupation Period (TOP) in 2026, up from 5,249 in 2025. This increase is projected to continue, reaching 10,195 units by 2028. The Rest of Central Region (RCR) is expected to see the highest number of completions, followed by the Outside Central Region (OCR) and the Core Central Region (CCR).
In the HDB sector, the number of resale flats reaching their five-year minimum occupation period (MOP) is projected to more than double in 2026, potentially increasing the supply of flats available for lease. This could exert downward pressure on rents, although demand is expected to be bolstered by a rise in foreign employment in Singapore. The Ministry of Manpower reports a steady increase in employment pass holders, which is likely to support rental demand.
Overall, the report suggests that whilst the rental market will face challenges from increased supply, the demand from a growing non-resident population and foreign workers will help stabilise rental prices. OrangeTee’s outlook provides a comprehensive view of the factors influencing Singapore’s rental market in the coming years.
