Rental volumes for both condominiums and Housing Development Board (HDB) flats in Singapore saw a significant increase in March 2026, according to the latest 99-SRX Media Flash Report. Condo rental volumes rose by 27.2% month-on-month, with 6,386 units rented compared to 5,021 in February. This surge is attributed to seasonal factors, including February’s shorter month and festive slowdown, which delayed transactions into March.
Condo rental prices also experienced a modest increase of 0.4% in March, continuing a gradual upward trend. Year-on-year, rental prices in the Core Central Region (CCR), Rest of Central Region (RCR), and Outside Central Region (OCR) increased by 2%, 1.9%, and 0.9%, respectively. Despite the monthly rise, tenants remain price-conscious, limiting landlords’ ability to raise rents significantly.
In the HDB rental market, volumes increased by 18.9% month-on-month, with 2,662 flats rented in March compared to 2,239 in February. However, year-on-year, HDB rental volumes decreased by 2.5%, remaining 5.9% below the five-year average for March. HDB rental prices saw a slight increase of 0.2%, with Non-Mature towns experiencing a 0.5% rise.
Luqman Hakim, Chief Data & Analytics Officer at 99.co, noted that the increase in rental volumes reflects a catch-up effect rather than a sudden surge in demand. The report suggests that whilst demand persists, it has softened compared to previous years, possibly due to more renters transitioning into homeownership as the resale market stabilises.
