Short answer: Singapore's private rents are rising slowly in 2026. URA's rental index rose 0.3% in Q1 and 0.7% in Q2 2026, after a 1.9% rise for all of 2025. Vacancy edged up to 6.4% at end-June, and about 8,440 private homes (excluding ECs) are due to complete in 2027, so official data points to steady rents rather than a new surge.
This page was rewritten on 3 October 2026 from URA, HDB, IRAS and MOM sources. URA's Q3 2026 figures (23 October 2026) show private rents up 1.3% and vacancy at 7.2%; a full update of this page is pending.
How have private rents moved?
URA's private residential rental index rose 1.9% in 2025 (URA). It fell 0.5% in Q4 2025, then rose in the first two quarters of 2026:
| URA rental index change (q-o-q) | Q4 2025 | Q1 2026 | Q2 2026 |
|---|---|---|---|
| Overall | −0.5% | +0.3% | +0.7% |
| Landed | −3.0% | +0.1% | +2.7% |
| Non-landed | −0.1% | +0.4% | +0.4% |
| Non-landed, Core Central Region | +0.7% | +0.5% | +1.2% |
| Non-landed, Rest of Central Region | +0.6% | −0.2% | 0.0% |
| Non-landed, Outside Central Region | −2.0% | +1.0% | −0.3% |
Sources: URA releases of 23 January 2026, 24 April 2026 and 24 July 2026. URA's Q3 2026 flash estimate on 1 October covered prices only, not rents (URA).
Monthly data from 99.co shows the same pattern. Condo rents were flat in August 2026 from July, with the Core Central and Rest of Central regions up 0.7% and 0.6% and the Outside Central Region down 0.4%. About 8,318 condo units were rented in August, down 13.6% from July's 9,627 (99.co, September 2026).
Is vacancy rising?
Yes, slightly. The vacancy rate of completed private homes (excluding ECs) was 6.0% at the end of 2025, 6.2% at the end of Q1 2026 and 6.4% at the end of Q2 2026 (URA). A higher vacancy rate means more completed homes are competing for tenants.
How much new supply is coming?
URA's pipeline at the end of Q2 2026 was about 60,600 private homes, including ECs, with about 25,900 due by 2028 (URA). Its completion schedule (URA Annex E-3) shows:
| Year | Private homes (excl. ECs) | ECs | Total |
|---|---|---|---|
| 2026 (1H completed + 2H expected) | 6,623 | 872 | 7,495 |
| 2027 (expected) | 8,440 | 1,264 | 9,704 |
| 2028 (expected) | 9,856 | 1,348 | 11,204 |
The 2026 row is our sum of 1H2026 completions (1,611 private homes and 872 ECs) and 2H2026 expected completions (5,012 private homes, no ECs). More private completions in 2027 (8,440) and 2028 (9,856) add to the stock of homes available to rent. ECs are excluded from that point because owners must live in them during the MOP.
What are HDB flats renting for?
HDB approved 10,002 applications to rent out flats in Q2 2026, up 4.9% from 9,535 in Q1 (EdgeProp, 24 July 2026). HDB's median monthly rents for Q2 2026 in four towns:
| Town | 3-room | 4-room | 5-room |
|---|---|---|---|
| Ang Mo Kio | S$2,800 | S$3,500 | S$3,880 |
| Bishan | S$3,000 | S$3,650 | S$4,000 |
| Toa Payoh | S$2,900 | S$3,800 | S$4,030 |
| Jurong West | S$2,700 | S$3,500 | S$3,700 |
Source: HDB median rent by town and flat type, data.gov.sg, queried 3 October 2026. 99.co data shows HDB rents fell 0.7% in August 2026 from July, with about 2,805 flats rented (99.co).
What do analysts expect for the rest of 2026?
- Knight Frank (Leonard Tay, head of research, 23 July 2026): private rents on track to rise 1% to 3% in 2026 (Knight Frank).
- PropNex (research release, 24 July 2026): private rents "could stay fairly stable in the near-term" as only 5,012 private homes complete in the second half of 2026 (PropNex).
- Realion/OrangeTee (Christine Sun, 24 July 2026): HDB rents expected to rise 1% to 3% in 2026 (EdgeProp).
These are forecasts, not data. URA's full Q3 figures, released on 23 October 2026, show rents kept rising: up 1.3% in Q3 (non-landed +1.2%, landed +2.1%) (URA pr26-73).
What rules must landlords follow?
HDB flats (gov.sg):
- You need HDB's approval before renting out a whole flat or its bedrooms.
- Only Singapore Citizen owners of Standard flats who have met the 5-year minimum occupation period (MOP) can rent out a whole flat. Owners of Plus and Prime flats cannot rent out the whole flat at any time. Permanent residents can rent out bedrooms only (in flats of 3 rooms or more).
- Each tenancy must be at least six months.
- When a whole flat is rented to non-citizens other than Malaysians (including permanent residents), it counts towards a non-citizen quota of 8% per neighbourhood and 11% per block. The quota does not apply to bedroom rentals.
Stamp duty on the lease (IRAS): for a lease of up to four years, duty is 0.4% of the total rent, and leases with average annual rent of S$1,000 or less are exempt. The tenancy agreement sets who pays. If it is silent, the tenant pays (IRAS). Duty must be paid within 14 days of signing in Singapore, or within 30 days of receiving the document if it was signed overseas (IRAS).
Property tax (IRAS): if you rent out your whole home, owner-occupier tax rates stop applying from the date it is let. Non-owner-occupied homes are taxed at 12% to 36% of annual value (IRAS rates). You must tell IRAS within 15 days of letting the property, unless the lease was stamped through myTax Portal, which notifies IRAS automatically.
Tenants on work passes: the Employment Pass minimum qualifying salary starts at S$5,600 a month (S$6,200 in financial services) and rises with age. It goes up to S$6,000 (S$6,600) for new applications from 1 January 2027, and for renewals of passes expiring from 1 January 2028 (MOM).
FAQ
Are Singapore rents going up or down in 2026? Up slightly. URA's private rental index rose 0.3% in Q1 and 0.7% in Q2 2026.
What is the private home vacancy rate? 6.4% at the end of Q2 2026, up from 6.0% at the end of 2025 (URA).
How much does a 4-room HDB flat rent for? HDB's Q2 2026 median was S$3,500 a month in Ang Mo Kio and Jurong West, S$3,650 in Bishan and S$3,800 in Toa Payoh.
Can I rent out my HDB flat before the MOP? Not the whole flat. You can rent out bedrooms (in a 3-room or larger flat) before the MOP with HDB's approval, as long as you keep living there. Only Singapore Citizen owners of Standard flats can rent out the whole flat, and only after the 5-year MOP. Plus and Prime flats can never be rented out whole.
Who pays stamp duty on a tenancy agreement? The person named in the tenancy agreement, or the tenant if the agreement is silent. Duty is 0.4% of total rent for leases of up to four years and must be paid within 14 days of signing (IRAS).
Sources
- URA, Q4 2025 real estate statistics, 23 January 2026
- URA, Q1 2026 real estate statistics, 24 April 2026
- URA, Q2 2026 real estate statistics and Annex E-3 completion schedule, 24 July 2026
- URA, Q3 2026 flash estimate, 1 October 2026
- HDB, median rent by town and flat type, data.gov.sg
- 99.co, condo and HDB rental market, August 2026 18 September 2026
- EdgeProp, HDB Q2 2026 data and analyst forecasts, 24 July 2026
- gov.sg, renting out your HDB flat
- IRAS, stamp duty rates, who pays stamp duty, renting out your property, property tax rates, when to pay stamp duty
- Knight Frank, commentary on URA Q2 2026 statistics, 23 July 2026
- PropNex, Q2 2026 research release, 24 July 2026
- MOM, Employment Pass eligibility
This page explains data and rules. It is not financial advice.
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