Condo leasing jumps 19% as rent growth stays modest

Nearly 7,000 homes were rented in June, with prices up just 2.4% from a year earlier.

Singapore condominium rental volumes rose 19% month-on-month (MoM) in June 2026 to an estimated 6,973 units, whilst rents increased 0.3%, according to 99.co and SRX.

The increase in rental activity came as prices partially recovered from a 0.6% MoM decline in May. Rents were 2.4% higher year-on-year (YoY) in June.

The latest figures point to a rental market where leasing activity is strengthening without a similar acceleration in prices, said Luqman Hakim, Chief Data & Analytics Officer at 99.co.

“Condo rents climbed 0.3% MoM, partially recovering from May’s 0.6% decline after reaching an all-time high in April,” he said. “With YoY growth at 2.4%, the latest increase points more towards stabilisation than the start of another sharp upswing.”

The estimated number of rented units increased from 5,858 in May. June’s rental volume was also 4.3% higher than a year earlier and 10.1% above the five-year average for the month.

The Outside Central Region (OCR) accounted for 38% of total rental volume, followed by the Rest of Central Region (RCR) at 32.8% and the Core Central Region (CCR) at 29.2%.

Rental prices rose across the OCR and RCR on a monthly basis, increasing 0.8% and 0.9%, respectively. CCR rents, however, fell 1%.

YoY rental prices increased 2.5% in both the CCR and RCR, whilst OCR rents rose 2%.

Hakim said the stronger increase in leasing activity could reflect a larger pool of homes available for rent, including newly completed units entering the market.

“The rise in supply may also help explain why rental activity strengthened without leading to a similarly strong increase in prices,” he said.

“Overall, June’s figures appear consistent with a rental market that is gradually finding its balance. Demand remains healthy, but the increase in available housing is helping to keep price growth restrained,” he added.