Rental activity in Singapore saw a notable uptick in June 2025, as both HDB and private condo rental markets recorded higher volumes and, in some cases, rising prices. The increase can be attributed to a mix of seasonal and structural factors.
Mid-year lease expirations—especially among expatriates—coincided with the June school holidays, a common time for families to relocate. Meanwhile, anticipation for the July BTO launch encouraged some would-be buyers to delay purchases and turn to the rental market instead.
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Condo rental market overview
In June 2025, overall condo rental prices dipped slightly by 0.2% month-on-month. Both the Core Central Region (CCR) and Rest of Central Region (RCR) registered a decrease of 0.6%, while the Outside Central Region (OCR) bucked the trend with a modest increase of 0.2%.
On a year-on-year basis, however, prices were higher across the board. Overall condo rental prices climbed 2.5% compared to June 2024. Regionally, RCR led the increase with 2.8%, followed by CCR at 2.4% and OCR at 1.8%.
Rental activity surged in the condo market, with volumes rising 18.8% from the previous month. Approximately 6,674 units were rented out in June, up from 5,617 in May. This marks a 10.7% increase compared to the same period last year, and volumes were also 8.1% higher than the five-year average for June.
In terms of regional distribution, the rental activity was as follows:
- OCR: 37.5%
- RCR: 32.6%
- CCR: 29.9%
The OCR remains a popular choice due to its relative affordability and availability of larger units.
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HDB rental market overview
Unlike the condo segment, HDB rental prices saw a modest month-on-month increase of 0.3%. Prices in non-mature estates rose by 0.8%, while those in mature estates fell slightly by 0.2%.
By flat type, resale prices in June saw mixed movement. 3-room flats inched up by 0.1%, while 4-room flats recorded a slightly stronger increase of 0.3%. Executive flats saw the largest jump, rising by 1.5%. On the other hand, 5-room flats experienced a marginal decline of 0.1%.
Year-on-year, HDB rental prices grew 2.8% overall. Executive and 3-room flats showed the strongest growth, with both rising 2.8% and 3.3% respectively. The consistency in year-on-year growth across all flat types suggests a steady demand from tenants.
HDB rental volume also saw a positive shift, with volumes rising 4.5% from May to June. An estimated 2,706 flats were rented in June, up from 2,590 the previous month. Compared to June 2024, this marks a 2% increase. However, volumes were still 6.1% below the five-year average for the month.
In terms of room type distribution for June 2025, 4-room flats made up the largest share of transactions at 36.5%, followed by 3-room flats at 33.7%. 5-room flats accounted for 24.1% of the volume, while Executive flats comprised the remaining 5.7%.
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What’s driving the rental market?
The Singapore rental market in June 2025 reflected a clear rise in demand, supported by both short-term circumstances and structural drivers.
The June school holidays often see families relocating for better school access. Many lease contracts in Singapore expire in the first half of the year, coinciding with the school holiday season, leading to mid-year moves and fresh listings on the rental market
With a major BTO launch scheduled for July—featuring 10,000 flats (5,500 BTO and 4,600 SBF units)—many buyers may have chosen to wait. We may see shifts in rental activity in the coming months. However, segments like OCR condos and non-mature estate HDB flats are expected to remain resilient due to their accessibility and appeal to price-sensitive tenants.
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