HDB rentals dip 7.7% to break below five-year market average

Four-room layouts lead the cooling rental market with a 37.8% transaction share.

HDB rental volumes fell to 2,595 units in May 2026, down 7.7% from 2,813 in April, according to 99.co and SRX.

The figure matched the volume recorded in May 2025, leaving year-on-year performance flat, whilst remaining 3.3% below the five-year average for the month.

Monthly volumes have fluctuated between 2,239 and 3,180 units since May 2025.

Volumes peaked at 3,180 in July 2025 before easing to 2,769 in August and 2,624 in September.

October and November recorded the lowest readings of the second half of 2025, at 2,474 and 2,453 respectively, before recovering to 2,777 in December.

January 2026 brought a further increase to 2,803, followed by a sharp fall to 2,239 in February, the lowest level during the period.

Volumes rebounded to 2,447 in March and 2,813 in April before declining again in May.

Four-room flats accounted for the largest share of transactions at 37.8%, followed by three-room flats at 35.3%, five-room flats at 22%, and executive flats at 4.8%.