Condo rental prices up 3% in September

An estimated 6,446 units were rented during the month.

Condo rental prices increased by 3% year-on-year (YoY) in September 2025 compared to the same month last year, according to data from 99.co and SRX.

By region, rents in the Core Central Region (CCR), Rest of Central Region (RCR), and Outside Central Region rose 3.6%, 3%, and 2.7%, respectively.

Rental volumes declined 18.9% month-on-month (MoM), with an estimated 6,446 units rented in September, down from 7,949 units in August.

Despite the slowdown, volumes were 4.4% higher YoY and 0.8% lower than the five-year average for September.

By region, OCR accounted for 32.7% of total rentals, RCR for 34.8%, and CCR for 32.4%.

Meanwhile, HDB rental prices slipped 0.1% MoM in September 2025.

Rents in Mature estates increased 0.3%, whilst Non-Mature estates declined 0.6%.

By flat type, 3-room rents rose 0.6%, while 4-room, 5-room, and Executive flats fell 0.1%, 0.4%, and 3%, respectively.

Year-on-year (YoY), overall HDB rents increased 2.7%.

Rents in Mature and Non-Mature estates rose 3.3% and 1.8%, respectively.

By flat type, 3-room, 4-room, and 5-room rents rose 3.7%, 2.2%, and 2.3%, whilst Executive flats dipped 0.1%.

Rental volumes decreased 5.2% MoM to an estimated 2,615 flats, down from 2,759 in August.

Volumes were 11.9% higher YoY and 7.3% above the five-year average for September.

By flat type, 4-room flats made up 36.6% of rentals, followed by 3-room at 33.7%, 5-room at 24.5%, and Executive flats at 5.1%.

The slowdown in rental activity was partly attributed to the September school holidays, as many families and expatriates delayed relocations or lease renewals.

Despite the lull, rents remained elevated due to tight vacancy rates and firm landlord expectations.

Analysts expect prices to hold steady into late 2025, supported by strong employment and population growth, signalling a soft landing for the rental market after several years of sharp increases.

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