GITNUX MARKETDATA REPORT 2024

Statistics About The Average Rent In Singapore

The average monthly rent for residential properties in Singapore is around $3,500 to $4,000.

With sources from: singaporeexpats.com, singsaver.com.sg, straitstimes.com, numbeo.com and many more

Statistic 1

In 2022, the rental prices in the core central region of Singapore increased by about 15%.

Statistic 2

The COVID-19 pandemic caused rental prices to dip by 5% in early 2020.

Statistic 3

District 9 (Orchard/River Valley) has an average rental price of SGD 6,500 per month for premium units.

Statistic 4

The most expensive rental district in Singapore is District 10 (Tanglin/Holland/Bukit Timah) with an average rent of SGD 8,000.

Statistic 5

The average rent for a serviced apartment in Singapore is around SGD 6,000 per month.

Statistic 6

The average monthly rent for a one-bedroom apartment outside the city center is approximately SGD 1,800.

Statistic 7

The average monthly rent for a one-bedroom apartment in the city center is around SGD 2,800.

Statistic 8

Rent prices for a two-bedroom apartment in the city center average around SGD 4,200 per month.

Statistic 9

Demand for rental properties surged by 30% in 2021 due to construction delays in new homes.

Statistic 10

Average rental yield in Singapore for residential properties is about 3-4%.

Statistic 11

In Singapore, foreigners make up around 20% of the rental market.

Statistic 12

Rents for public housing flats (HDB) increased by 10% in 2021.

Statistic 13

Private condominium rentals in Singapore average around SGD 3,500 per month.

Statistic 14

Rent in Singapore constitutes about 40% of the average household expenditure.

Statistic 15

The cost of renting a three-bedroom apartment in the city center averages about SGD 5,500 per month.

Statistic 16

Rental prices for Housing and Development Board (HDB) flats average around SGD 2,000 monthly for a four-room flat.

Statistic 17

Utilities typically add about SGD 150 to 200 to the monthly rental cost.

Statistic 18

Renting a single room in a shared HDB flat can cost between SGD 600 and SGD 1,000 per month.

Statistic 19

Renting a three-bedroom apartment outside the city center costs about SGD 3,800 per month on average.

Statistic 20

Landlords in prime locations often demand a two to three months’ security deposit.

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In this post, we provide a comprehensive overview of the average rent in Singapore, shedding light on key statistics and trends shaping the city-state’s rental landscape. From fluctuations in rental prices in different districts to insights on rental yields and tenant demographics, we delve into the data to offer a detailed glimpse into the current rental market in Singapore.

Statistic 1

"In 2022, the rental prices in the core central region of Singapore increased by about 15%."

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Statistic 2

"The COVID-19 pandemic caused rental prices to dip by 5% in early 2020."

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Statistic 3

"District 9 (Orchard/River Valley) has an average rental price of SGD 6,500 per month for premium units."

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Statistic 4

"The most expensive rental district in Singapore is District 10 (Tanglin/Holland/Bukit Timah) with an average rent of SGD 8,000."

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Statistic 5

"The average rent for a serviced apartment in Singapore is around SGD 6,000 per month."

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Statistic 6

"The average monthly rent for a one-bedroom apartment outside the city center is approximately SGD 1,800."

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Statistic 7

"The average monthly rent for a one-bedroom apartment in the city center is around SGD 2,800."

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Statistic 8

"Rent prices for a two-bedroom apartment in the city center average around SGD 4,200 per month."

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Statistic 9

"Demand for rental properties surged by 30% in 2021 due to construction delays in new homes."

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Statistic 10

"Average rental yield in Singapore for residential properties is about 3-4%."

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Statistic 11

"In Singapore, foreigners make up around 20% of the rental market."

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Statistic 12

"Rents for public housing flats (HDB) increased by 10% in 2021."

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Statistic 13

"Private condominium rentals in Singapore average around SGD 3,500 per month."

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Statistic 14

"Rent in Singapore constitutes about 40% of the average household expenditure."

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Statistic 15

"The cost of renting a three-bedroom apartment in the city center averages about SGD 5,500 per month."

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Statistic 16

"Rental prices for Housing and Development Board (HDB) flats average around SGD 2,000 monthly for a four-room flat."

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Statistic 17

"Utilities typically add about SGD 150 to 200 to the monthly rental cost."

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Statistic 18

"Renting a single room in a shared HDB flat can cost between SGD 600 and SGD 1,000 per month."

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Statistic 19

"Renting a three-bedroom apartment outside the city center costs about SGD 3,800 per month on average."

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Statistic 20

"Landlords in prime locations often demand a two to three months’ security deposit."

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Interpretation

In conclusion, the rental market in Singapore has experienced fluctuations over the past few years, influenced by factors such as the COVID-19 pandemic, construction delays, and foreign demand. Rental prices vary significantly across different districts, with the core central region commanding premium rates. The average rents for various types of properties and locations provide a clear picture of the current market situation, from serviced apartments to public housing flats. As rent constitutes a substantial portion of household expenditure, tenants need to carefully consider their options and budget accordingly. Landlords in prime locations imposing hefty security deposits further underscore the competitive nature of the rental market in Singapore.

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