Singapore Private Home Rents Rise 1.6% in July as Rental Volume Hits Record 9,627 Units

Non-landed private home rents rose across all three market segments in July, in a pattern similar to June. The Rest of Central Region (RCR), representing mid-tier private homes, performed best with a 2.2 per cent month-on-month increase. The Outside Central Region (OCR), representing mass-market private homes, rose 1.1 per cent, while the Core Central Region (CCR), representing prime district homes, reversed one month of decline with a 0.8 per cent increase.

Compared with July 2025, overall non-landed private home rents were up 2.5 per cent year on year. By segment, Core Central rents rose 2.6 per cent, Rest of Central rose 2.4 per cent and Outside Central rose 2.2 per cent.

July rental transaction volume surged 38.1 per cent month on month, climbing from 6,973 units in June to 9,627 units, a record monthly high. Compared with the same period last year, July rental transactions were up 10.6 per cent. Against the five-year average for July, the figure was 19.5 per cent higher.

By region, 39.2 per cent of July rental transactions came from Outside Central, 33.2 per cent from Rest of Central, and 27.7 per cent from Core Central.

Luqman Hakim, chief data officer at 99.co, noted that the month-on-month increase in July does not necessarily mean rents will surge significantly in the coming months. The jump could partly reflect a rebound from the June school holiday period, representing a normal seasonal recovery in rental activity.

He predicted that private home rents may remain stable in the short term. Part of the reason for the current rental increases could be the limited supply of newly completed private homes in the near term, which has reduced the pool of new rental listings and intensified competition for existing properties.

By the end of 2026, an estimated 13,480 HDB units will reach their Minimum Occupation Period (MOP), potentially adding new supply to the rental market and increasing competition among landlords. Although rents have hit record highs, the rate of increase is slowing over the longer term, which should help moderate further rental growth, he added.