The private residential rental market rebounded in the first half of 2025, with the overall rental price index rising by 1.2 percent, reversing the 2.7 percent moderation observed in the same period last year. This turnaround suggests that the market has regained stability, supported by resilient demand and a more measured pace of growth. The 0.8 percent increase in Q2 2025, following a 0.4 percent rise in Q1, signals a stabilised phase in the market, particularly for developments with strong transport and lifestyle connectivity.

Normanton Park emerged as the top non-landed rental project with 290 leasing transactions in 1H2025. Its city-fringe location, wide unit mix (including up to five-bedroom units), and proximity to the One-North business hub make it attractive to professionals in media, technology, and biomedical sectors. The Draft Master Plan 2025 proposes further transformation in the Greater One-North area, which could bring additional housing and infrastructure enhancements.

In the HDB rental segment, transactions increased from 18,952 in 1H2024 to 19,728 in 1H2025. 3-room and 4-room flats remained the most popular, accounting for the bulk of deals. Modest increases were also seen in 5-room and executive flats, suggesting growing demand from multi-generational households.

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Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: research@sri.com.sg