HDB rental prices and latest rental transactions in 2026

The rental market of Singapore’s HDB has undergone substantial changes. As one may expect, housing in Singapore has seen some drastic shifts, particularly with rental prices hitting all-time highs. The article focuses on the details of the HDB rental market and provides the information prospective tenants and property owners need.

Latest HDB Rental Price Trends [June 2026]

HDB rents continue a gradual climb

Overall HDB rental prices rose 0.6% month-on-month, lifting the HDB rental index to 145.1 in June. The increase marks another month of steady appreciation, although a slight downward trend was recorded briefly in May. Breaking the figures down geographically, mature estates continued to outperform, with rents increasing 0.7%, compared with 0.4% in non-mature estates. The trend is unsurprising given that mature towns typically offer stronger transport connectivity, more established amenities and closer proximity to major employment nodes.

Estates such as Bishan and Bukit Merah, with their premiums, continue to attract both local and expatriate tenants seeking shorter commutes and comprehensive neighbourhood facilities, allowing landlords in these locations to command relatively stronger rental growth. On a year-on-year basis, overall HDB rents were 1.4% higher than in June 2025. Rental prices in mature estates rose 1.8%, while non-mature estates recorded a more modest 0.9% increase.

Rental transactions improve but remain below historical norms

The overall leasing activity in the HDB market also picked up in June. An estimated 2,725 HDB flats were rented during the month, representing a 4.8% increase from the 2,601 units recorded in May. Rental volumes were virtually unchanged from a year ago, rising just 0.1% compared with June 2025. More notably, June’s leasing activity remained 4.1% below the five-year average for the month.

Four-room flats continued to dominate leasing activity in June. They accounted for 38.8% of all HDB rental transactions, followed by: 3-room flats: 31.8%; 5-room flats: 23.7%; Executive flats: 5.7%. The popularity of 4-room flats reflects their position as the “middle ground” of Singapore’s public housing market. They offer sufficient living space for families while remaining more affordable than larger 5-room or Executive flats, making them attractive to a broad range of tenants.

HDB Public Rental Scheme

The HDB Public Rental Scheme is an initiative by the Housing & Development Board of Singapore, designed to provide heavily subsidised housing options for Singapore Citizen (SC) households who lack other housing alternatives.

Given the limited number of rental flats available under this scheme, there are specific eligibility criteria that applicants must meet to qualify for a rental flat. The scheme encompasses various aspects:

1. Eligibility criteria and schemes: Applicants must satisfy certain conditions to be eligible for a rental flat.
2. Flat types and locations: The Public Rental Scheme offers different flat types and locations.
3. Rents and deposits: Rental rates are determined based on income, the flat, and the applicant’s status.
4. Application and selection: This section provides a comprehensive overview of the application submission process, including the necessary documentation.
5. Changes and cancellation: Information on how to modify a rental application and the procedure for cancellation is provided.
6. Tenancy matters: This covers essential tenancy-related topics, including rent payment and changes in tenancy.
7. Rental assistance: Financial support is available for applicants facing financial challenges.

This scheme is a testament to the Singapore government’s commitment to ensuring citizens’ access to affordable housing.

Current market landscape

Demand Drivers

1. Foreign workforce and expatriates – With Singapore’s economy remaining strong, demand for foreign talent continues to grow. Many expatriates, particularly professionals on shorter-term assignments, prefer renting HDB flats over private condominiums due to cost considerations. Industries such as finance, technology, and healthcare have been actively hiring, further driving rental demand.

2. Transition delays in homeownership – Although the construction backlog from the pandemic has eased, some BTO projects continue to experience delays. Additionally, homeowners who have sold their existing flats but have yet to move into their new homes opt to rent in the interim. This transitional demand has contributed to sustained rental activity, particularly in centrally located estates.

3. Evolving lifestyle preferences – With hybrid work models becoming more common, tenants are increasingly prioritising flats that offer additional space for home offices or are located near green spaces. This shift has made larger units in well-connected estates particularly attractive.

4. Rising property prices affecting affordability – As resale flat prices remain elevated, some potential buyers have opted to delay their purchases and rent instead, further supporting rental demand.

Supply Factors

1. Increase in BTO completions – The government has ramped up BTO construction efforts, with over 13,000 units expected to be completed in 2026. This will help alleviate some pressure on the rental market, particularly in newer estates such as Tengah and Woodlands, where significant housing supply is coming online.

2. More resale flats entering the market – Changing housing policies and evolving homeowner needs have led to an increase in resale listings. With more flats available for purchase, some renters may transition to homeownership, potentially easing rental demand.

3. Government policies and cooling measures – Stricter rental regulations and additional housing grants have played a role in moderating rental price dynamics. Measures aimed at preventing excessive rent hikes and ensuring housing affordability may lead to a more stabilised rental market in 2026.

Thinking about owning a HDB flat of your own? Take a look at your options here!

Frequently Asked Questions (FAQ)

What are the benefits of renting HDB flats in Singapore?
Renting HDB flats in Singapore offers benefits beyond monetary considerations, including increased mobility and flexibility to relocate easily. It is also an ideal option for those considering temporary accommodation during migration.

What is the HDB Public Rental Scheme, and who is eligible?
The HDB Public Rental Scheme is designed to provide heavily subsidised housing for Singapore Citizen households lacking other housing alternatives. Eligibility criteria include specific conditions related to income, flat types, and applicant status.

How are rents and deposits determined under the Public Rental Scheme?
Rental rates are determined based on income, flat type, and applicant status.