The condo rental market in Singapore experienced an unprecedented surge in July 2026, with 9,627 units leased, marking the highest monthly volume on record. This represents a 38.1% increase from June 2026, according to the latest 99-SRX Media Flash Report. The rise is attributed to the typical post-holiday period activity, mirroring a similar trend observed in July 2024.
Rental prices also climbed, increasing by 1.6% month-on-month, surpassing the previous peak set in July 2023. Year-on-year, condo rents were up by 2.5%, whilst broader private residential rents showed a more modest growth of 0.7% in Q2 2026 and 1% in the first half of the year. Luqman Hakim, Chief Data & Analytics Officer at 99.co, noted that the limited completion of new private homes is contributing to the elevated rents, as supply struggles to keep pace with demand.
In the HDB rental market, prices rose by 1.7% from June 2026, with Mature and Non-Mature estates seeing increases of 1.2% and 2.2%, respectively. Rental volumes for HDB flats increased by 13.6% month-on-month, although they were 2.6% lower compared to July 2025.
Looking ahead, whilst condo rents are expected to remain firm, particularly in well-connected areas, the influx of 13,480 HDB flats reaching their Minimum Occupation Period by the end of 2026 could introduce more competition among landlords, potentially moderating rental growth.
