{"id":70076,"date":"2023-10-20T17:26:55","date_gmt":"2023-10-20T09:26:55","guid":{"rendered":"https:\/\/www.99.co\/singapore\/insider\/?p=70076"},"modified":"2026-06-19T17:26:51","modified_gmt":"2026-06-19T09:26:51","slug":"hdb-rental-prices-singapore","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/hdb-rental-prices-singapore\/","title":{"rendered":"HDB rental prices and latest rental transactions in 2026"},"content":{"rendered":"
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The rental market of Singapore\u2019s HDB has undergone substantial changes.<\/span> As one may expect, housing in Singapore\u00a0has seen some drastic shifts, particularly with rental prices hitting all-time highs.<\/span>\u00a0The article focuses on the details of the HDB rental<\/a> market and provides the information prospective tenants and property owners need.<\/span><\/p>\r\n\r\n\r\n

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Latest HDB Rental Price Trends [May 2026]<\/h2>\r\n

HDB rental market continues to normalise<\/h3>\r\n

The HDB rental market recorded another month of modest movements in May, extending the trend of stabilisation that has emerged over the past year. Overall, HDB rents dipped 0.3% month-on-month, with rental prices in mature estates falling by 0.5%. In contrast, non-mature estates registered a slight 0.2% increase. At the flat-type level, rents for 3-room and Executive flats declined by 0.8% and 1.6% respectively, while 4-room and 5-room flats posted marginal gains of 0.1% and 0.4%.<\/p>\r\n

Despite the monthly decline, HDB rents remained higher across all segments on an annual basis. Overall rental prices rose 1.1% year-on-year, with rental growth ranging from 0.7% to 1.4% across the various flat types. The relatively modest pace of growth suggests that the HDB rental market is continuing to stabilise after experiencing strong demand and rapid rental increases in previous years.<\/p>\r\n

Rental transactions fall below historical averages<\/h3>\r\n

Rental activity in the HDB market also moderated in May, with an estimated 2,595 flats rented during the month, down 7.7% from April\u2019s 2,813 transactions.\u00a0May\u2019s rental volume was broadly unchanged from a year ago and sat 3.3% below the five-year average for the month. As more households move into newly completed homes and fewer renters are forced to stay in the market for extended periods, leasing activity has become more measured.<\/p>\r\n

Four-room flats continued to dominate the HDB rental market, accounting for 37.8% of all rental transactions in May. Three-room flats followed closely at 35.3%, while 5-room and Executive flats made up 22% and 4.8%, respectively. The popularity of 3-room and 4-room flats is unsurprising, as these unit types typically offer the most affordable entry point for families and local tenants seeking larger living spaces.<\/p>\r\n

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HDB Public Rental Scheme<\/h2>\r\n

The HDB Public Rental Scheme<\/a> 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.<\/p>\r\n

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:<\/p>\r\n

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

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    This scheme is a testament to the Singapore government’s commitment to ensuring citizens’ access to affordable housing.<\/p>\r\n

    Current market landscape<\/h2>\r\n

    \"hdb<\/a><\/p>\r\n

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    Demand Drivers<\/strong><\/h3>\r\n
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    1. \r\n

      Foreign workforce and expatriates<\/strong> \u2013 With Singapore\u2019s 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.<\/p>\r\n<\/li>\r\n

    2. \r\n

      Transition delays in homeownership<\/strong> \u2013 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.<\/p>\r\n<\/li>\r\n

    3. \r\n

      Evolving lifestyle preferences<\/strong> \u2013 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.<\/p>\r\n<\/li>\r\n

    4. \r\n

      Rising property prices affecting affordability<\/strong> \u2013 As resale flat prices remain elevated, some potential buyers have opted to delay their purchases and rent instead, further supporting rental demand.<\/p>\r\n<\/li>\r\n<\/ol>\r\n

      Supply Factors<\/strong><\/h3>\r\n
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      1. \r\n

        Increase in BTO completions<\/strong> \u2013 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.<\/p>\r\n<\/li>\r\n

      2. \r\n

        More resale flats entering the market<\/strong> \u2013 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.<\/p>\r\n<\/li>\r\n

      3. \r\n

        Government policies and cooling measures<\/strong> \u2013 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.<\/p>\r\n<\/li>\r\n<\/ol>\r\n