Condo and HDB rents edge up as rental volumes rebound in March

Rents rise slightly whilst condo volumes jump 27.2% and HDB volumes gain 18.9% MoM.

Private and public residential rental markets in Singapore recorded higher volumes in March, whilst rental price growth remained modest across both condominium and HDB segments, according to 99.co and Singapore Real Estate Exchange (SRX) data.

Condominium rents rose 0.4% month on month (MoM) in March, extending a gradual upward trend. Rental volumes increased 27.2% over the same period to an estimated 6,386 units, up from 5,021 units in February.

“Condo rental prices rose by 0.4% in March 2026,” said Mr. Luqman Hakim, Chief Data & Analytics Officer at 99.co.

“However, the increase remains modest, suggesting that the market is stabilising,” he added.

He also noted that rental volume growth was influenced by seasonal factors.

“Rental volumes saw a sharp rebound, rising by 27.2% MoM,” he said, adding that “This was largely due to seasonal factors, as February’s shorter month and festive slowdown likely delayed transactions into March.”

By region, condo rents rose 0.4% in the Core Central Region (CCR) and 1.1% in the Rest of Central Region (RCR), whilst the Outside Central Region (OCR) declined 0.3% MoM. On a year-on-year (YoY) basis, condo rents increased 1.9%.

Rental volumes were 7.7% higher YoY and 8% above the five-year average for March. The OCR accounted for 36.1% of total rental transactions, followed by the RCR at 34.3% and the CCR at 29.6%.

In the HDB rental market, prices increased 0.2% MoM in March 2026, whilst rental volumes rose 18.9% to 2,662 flats from 2,239 in February.

“Unlike the private market, tenants in this segment tend to be more price-sensitive, which naturally caps how much rents can increase,” said Mr. Luqman Hakim.

He added that monthly volume growth reflected seasonal factors. “Rental volumes also increased by 18.9% MoM, driven by the same seasonal rebound,” he said.

On a YoY basis, HDB rents rose 1.5%, whilst rental volumes fell 2.5%. Volumes were also 5.9% below the five-year average for March.

By flat type, 4-room flats accounted for 36.6% of HDB rental transactions, followed by 3-room flats at 33.4%, 5-room flats at 24.4%, and executive flats at 5.6%.