Singapore’s rental market experienced a notable increase in activity in January 2026, with condominium rental volumes rising by 11.7% and HDB flat rentals seeing a modest 0.8% increase, according to the latest report by 99.co and SRX. This surge is attributed to the post-holiday completion of deals and the influx of expatriates at the start of the corporate year.
Condominium rental prices saw a slight month-on-month increase of 0.6%, with the Core Central Region (CCR) and Outside Central Region (OCR) experiencing rises of 0.4% and 0.9%, respectively. Year-on-year, condo rental prices increased by 2.5%, with the CCR, Rest of Central Region (RCR), and OCR recording increases of 3.2%, 1.7%, and 2.2%, respectively. An estimated 6,708 condo units were rented in January, marking a 6.3% year-on-year increase, although this was 0.6% lower than the five-year average for January.
In contrast, HDB rental prices dipped by 0.3% compared to December 2025, with Mature and Non-Mature towns seeing decreases of 0.5% and 0.1%, respectively. Despite the price drop, overall HDB rental prices increased by 1.7% year-on-year. The report highlights that the significant 2026 Minimum Occupation Period (MOP) wave, with 13,484 flats reaching their five-year tenure, has contributed to increased supply and competition among landlords.
Luqman Hakim, Chief Data & Analytics Officer at 99.co, noted that the influx of supply in the HDB market is likely to shift bargaining power towards tenants, potentially leading to longer-term market stabilisation. As the market adjusts, tenants may find more favourable conditions in the coming months.
