Condo and HDB rental demand holds firm despite price hikes

In April, 6,088 condominiums and 2,881 HDB flats were rented.

Condo and HDB flat rental volumes increased despite rental prices continuing to hike, demonstrating the rental market's resilience in April despite evolving tenant preferences and pricing dynamics, a report by 99.co and SRX said.

In April, rental prices increased by 0.1%. The core central region (CCR) and outside central region (OCR) increased by 0.3% and 0.5%, respectively, whilst the rest of the central region (RCR) remained the same compared to March 2025.

Year-on-year (YoY), overall rental prices increased by 2.5% compared to April 2024. Rental prices in CCR, RCR, and OCR increased by 1.6%, 2%, and 2.9%, respectively.

Despite this, rental volumes increased by 2.7% month-on-month. An estimated 6,088 units were rented in April 2025, compared to 5,929 in March 2025. This is 3.6% higher than during the same period last year.

Overall, rental volumes were 0.7% lower than the 5-year average for April. Breaking it down by region, in April 2025, 34.1% of the total rental volume was from OCR, 32.9% from RCR, and 33% from CCR.

In the HDB rental market, prices increased by 0.3% compared to March 2025. Rental prices in Mature and Non-Mature Estates saw increases of 0.4% and 0.2%, respectively. 3-room and 4-room flats rose by 0.3% and 0.7%, respectively, whilst 5-room flat rentals held steady. In contrast, Executive flat rental prices declined by 0.9%.

Overall rental prices increased by 2.9% compared to April 2024. Both Mature and Non-Mature Estate rental prices increased by 3.5% YoY and 2.3% YoY, respectively. All room types recorded rental price increases: 3-room by 4.1%, 4-room by 2.5%, 5-room by 2.1%, and Executive by 2.4% compared to the same period last year.
Rental volumes increased by 5.9% month-on-month. An estimated 2,881 HDB flats were rented in April 2025, compared to 2,720 in March 2025.

Comparing the same period last year, rental volumes decreased by 3.4% compared to April 2024. Rental volumes were 7.8% lower than the 5-year average for April. Breaking it down by room type, in April 2025, 33.5% of the total rental volume was from 3-room, 36.8% from 4-room, and 24.3%

“This shift may be driven by multiple factors such as tighter household budgets amidst global economic uncertainty. As such, the public rental market is still seeing slight upward pressure on prices, even as volumes rise,” Luqman Hakim, Chief Data & Analytics Officer at 99.co, said.

Follow the link s for more news on

99.co

SRX

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia