Singapore’s residential rental market has demonstrated resilience in the first quarter of 2026, with leasing activity rising by 4% quarter-on-quarter. According to Savills’ latest briefing, the number of transactions increased from 20,051 in the last quarter of 2025 to 20,862 in Q1 2026, indicating a robust demand for private residential properties.
The report highlights that private residential rents have experienced a modest recovery, driven by stronger leasing demand. Despite the ongoing global economic and geopolitical uncertainties, rental levels are expected to remain stable throughout the year, supported by a limited supply of new units. In Q1 2026, 911 units were completed, with an additional 5,371 units anticipated to be delivered by the end of the year.
Vacancy trends, however, varied across different sub-markets, reflecting uneven supply absorption conditions. Savills maintains that private residential rents are likely to stay broadly flat for the entirety of 2026, with manageable supply levels contributing to this stability.
The underlying resilience of the rental market, despite economic headwinds, suggests that conditions will remain relatively stable in the near term. This stability is crucial for both landlords and tenants navigating the current economic landscape.
