02 Sep 2024
1H2024 Singapore Rental Market Insights: School Proximity and Pricing Trends
Property Insight

The rental property market in Singapore during the second quarter of 2024 demonstrated notable trends and adjustments. The overall rental index showed a further moderation, with rental prices decreasing by 0.8% in 2Q2024, a smaller decline compared to the 1.9% drop in 1Q2024. This period also marked a stabilization in the market as rental prices in the first half of 2024 adjusted by -2.7%, a significant change from the 10.2% increase observed in the first half of 2023. The moderation can be attributed to the influx of newly completed developments entering the market, adding to the rental supply.

The number of non-landed rental contracts rose by 1.9% quarter-on-quarter, from 18,878 units in 1Q2024 to 19,558 units in 2Q2024. This increase is likely driven by the high volume of private developments completed in 2023, which have now entered the rental segment. The year-on-year growth of non-landed rental contracts in 1H2024 was 2.4%, reflecting continued demand for such properties. It is projected that the total non-landed rental volume for 2024 will fall between 78,000 and 80,000 contracts.

Newly completed developments, particularly those that obtained their Temporary Occupation Permit (TOP) recently, such as Normanton Park, Treasure at Tampines, Parc Clematis, and The M, have shown strong rental demand. Renters seem to favor newer units due to their fresh condition and minimal wear and tear.

Core Central Region (CCR) districts continued to lead in rental popularity, with District 9 securing the highest number of non-landed rental contracts in 1H2024, followed by Districts 10 and 15. These districts remain desirable among renters, underlining their prominence in the rental market.

The HDB rental market also experienced growth, with rental approvals increasing by 1.7% quarter-on-quarter from 9,398 in 1Q2024 to 9,554 in 2Q2024. A significant portion of these approvals (36.9%) were for 4-room flats, which saw the highest number of rental approvals since 3Q2023. Jurong West recorded the highest number of HDB rental transactions in 1H2024, followed by Tampines and Sengkang.

Despite the overall moderation in HDB rentals, the resale market strengthened in 1H2024, with a 6.9% increase in resale transactions compared to 1H2023. This trend indicates a shift towards resale flats among homeowners, partly due to the limited number of flats reaching their Minimum Occupation Period (MOP) in 2024.

School proximity significantly influenced rental growth in areas like Bukit Batok and Hougang, where highly sought-after schools like Princess Elizabeth Primary School and Holy Innocents' Primary School are located. The scarcity of larger flats and the high demand for school enrollment contributed to notable increases in rental prices in these areas.

Overall, the rental market in Singapore is stabilizing, supported by strategic housing initiatives from the government. These initiatives aim to alleviate rental pressures by boosting housing supply and providing targeted support for those in need, ensuring a balanced and accessible rental market for residents.

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Prepared By: 

Mohan Sandrasegeran 

Head of Research & Data Analytics  

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Property Insight
07 Jan 2026
Singapore Landed Property Market Review and Outlook 2026

The landed housing market recorded a clear recovery in 2025, following a more cautious environment in 2024. The landed property price index rose by 7.7% in 2025, a notable improvement from the 0.9% increase recorded a year earlier. This reflects a gradual return of confidence in the landed segment, supported by stronger demand for larger landed homes and a pickup in higher value transactions.

Transaction activity also recovered steadily over the year. Total landed transactions increased from 1,938 units in 2024 to about 2,070 units in 2025, representing a 6.8% year on year increase. In value terms, total transacted value rose more sharply from $10.33 billion to $12.31 billion, an increase of 19.3%. The faster growth in value relative to volume points to a higher concentration of big ticket transactions, particularly at the upper end of the market.

Detached and semi-detached houses recorded the strongest momentum within the landed segment. Detached house transactions rose by 15.6% year on year, while semi-detached house transactions increased by 16.6%. Buyers in this segment are typically driven by long term housing needs, legacy planning, and land considerations, and are generally less sensitive to short term interest rate movements or policy adjustments. This helped anchor demand for larger landed formats even as broader market conditions remained calibrated.

Looking ahead to 2026, the landed housing market is expected to remain resilient, supported by sustained demand from well capitalised buyers and a continued preference for larger landed formats. Demand is expected to be driven primarily by private homeowners upgrading within the private residential segment, as well as high net worth buyers seeking long term wealth preservation and legacy assets. Limited availability of redevelopment plots is expected to keep prices firm, particularly for homes with larger land areas and redevelopment potential.

The upcoming launches of boutique freehold landed projects such as Vila Naga in Bukit Timah and Vila Natura in Lentor. Overall, the landed housing market in 2026 is expected to remain supported by steady demand, selective buying conditions, and continued interest in quality landed assets as a long-term component of Singapore’s residential market.

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here

for the full report 

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

Property Insight
02 Jan 2026
4Q2025 Flash Estimates Reflect Sustainable Residential Market Momentum

The 4Q2025 flash estimates indicate that Singapore’s residential property market is transitioning into a more sustainable and balanced phase, marked by moderated price growth, resilient underlying demand, and a clearer alignment between supply and buyer absorption. In the private residential segment, prices continued to moderate in 4Q2025, recording a 0.7% quarter on quarter increase, easing from the 0.9% growth seen in 3Q2025. For the full year, private home prices rose by 3.4% in 2025, slightly lower than the 3.9% increase recorded in 2024. 

Non landed new home sales in 2025 continued to be anchored firmly in the mass market price segments. Units priced between $1.0 million and $2.0 million accounted for 44.2% of total transactions, remaining broadly stable compared to 2024. 

Looking ahead, the outlook for the 2026 private residential market remains stable. While transaction volumes may moderate from the exceptionally strong levels seen in 2025, demand is expected to remain resilient. Importantly, the market is not facing a supply shortfall. The confirmed list under the 1H2026 Government Land Sales programme provides a substantial pipeline of new supply, with units about 50% higher than the ten-year average. This deliberate injection of land supply helps mitigate upward price pressures and supports long term market stability. 

In the public housing market, HDB resale prices showed clear signs of stabilization. Prices were unchanged in 4Q2025, and for the full year, resale prices rose by about 2.9%, a sharp moderation from the 9.7% increase in 2024. This reflects improved market balance amid a steady ramp up in BTO supply and a significant expansion in Sale of Balance Flats exercises, which provided buyers with more ready or near ready alternatives.

Overall, both private and public housing markets are entering 2026 on a more sustainable footing, with price growth moderating in line with increased supply and demand remaining structurally supported

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here

for the full report  

  

  

  

Prepared By: 

Mohan Sandrasegeran 

Head of Research & Data Analytics 

  

  

Email:

mohan@sri.com.sg

  

Property Insight
23 Dec 2025
Singapore Private Property Market Outlook 2026

The Private Property Market Outlook 2026 highlights a transition from the exceptionally strong momentum seen in 2025 toward a more balanced and sustainable market environment in 2026. In 2025, buyer demand remained resilient despite higher price benchmarks, supported by stabilising interest rates, a fuller launch pipeline and strong domestic participation. Developers adjusted launch pacing more strategically as market visibility improved, while land tender activity strengthened meaningfully across all regions, signalling renewed confidence within the development sector 

Government Land Sales activity showed a clear uplift in 2025. Excluding EC sites, average land bid prices rose across the CCR, RCR and OCR, with the strongest growth recorded in the OCR. 

New private home sales surged in 2025, with 11M2025 transactions already surpassing full year 2024 figures. Total new sales reached 10,624 units in the first 11 months of 2025, representing a 64.2% year on year increase. All market segments recorded stronger sales, led by the OCR, which continued to anchor overall volumes. The CCR recorded the sharpest percentage growth, supported by a return of demand at the higher end of the market and a stronger pipeline of luxury launches.

Mass market projects dominated the list of best selling developments in 2025, reinforcing the depth of demand for well located and competitively priced OCR launches. Large scale developments such as Parktown Residence, Springleaf Residence and Aurelle of Tampines led sales volumes, while RCR and CCR projects also posted solid take up when pricing and location aligned with buyer expectations. This broad based performance underscores buyers continued preference for value alignment rather than speculative positioning.

The resale market also showed resilience in 2025, with total private resale transactions rising by 3.2% year on year. The RCR recorded the strongest resale growth, while OCR volumes remained stable despite competition from a very active primary market. Demand continued to favour relatively newer projects completed between 2018 and 2023, reflecting buyers preference for modern layouts, remaining lease tenure and established liveability.

Local buyers remained the dominant force in the private residential market. Singaporeans accounted for 83.9% of all non landed private transactions in 11M2025, while PR participation moderated slightly. Foreign buying activity remained subdued due to prevailing ABSD measures, with demand largely concentrated in specific market segments.

Click

here

for the full report 

Prepared By:

Mohan Sandrasegeran

Head of Research & Data Analytics

Email: mohan@sri.com.sg

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