Private home leasing activity rises 5.1% in Q2

The increase was led by higher leasing activity in the non-landed segment.

Singapore’s private residential leasing market recorded 22,290 rental contracts commencing in the second quarter (Q2) of 2026, a 5.1% quarter-on-quarter (QoQ) increase and a 3% year-on-year (YoY) rise.

According to Savills, the increase was mainly driven by higher leasing activity in the non-landed residential segment, although rental performance varied across regions.

Non-landed private residential rental transactions increased 5.4% QoQ, with all three market regions recording higher volumes.

The Core Central Region (CCR) and the Rest of the Central Region (RCR) each saw a 5.7% increase, whilst the Outside Central Region (OCR) recorded a 4.8% rise.

On a YoY basis, non-landed leasing volume grew 3.2% in Q2 2026, extending its growth streak to nine consecutive quarters.

The OCR recorded the largest increase at 6%, followed by the RCR at 2.5% and the CCR at 0.7%.

Treasure At Tampines was the most actively leased non-landed private residential development in Q2 2026, replacing Normanton Park at the top spot.

Newly completed Tembusu Grand ranked third, followed by Marina One Residences and The Sail @ Marina Bay.

Based on the Urban Redevelopment Authority’s (URA) rental index, private apartment and condominium rents in the CCR rose 1.2% QoQ in Q2, compared with 0.5% growth in the previous quarter.

Rents in the RCR were unchanged, whilst OCR rents declined 0.3% QoQ.

Savills said higher CCR rents were supported by increased leasing activity for smaller units.

Transactions for one-bedroom and two-bedroom units rose 10.1% and 15.6% QoQ, respectively, whilst median rents for these unit types increased 0.7% and 3.3%.

The average monthly rent for Savills’ basket of high-end non-landed residential properties increased 1.4% QoQ, marking the seventh consecutive quarter of growth.

The Orchard/Cairnhill area recorded the strongest increase at 2.6%, followed by River Valley at 0.1%.

“Mixed free cash flow trends amongst multinational corporations could restrain expatriate deployment overseas, whilst the removal of the 15-month wait-out period for private homeowners moving to HDB flats may reduce domestic leasing demand,” said Alan Cheong, executive director of Research & Consultancy at Savills Singapore. “Thus, we maintain our view that private residential rents will remain broadly flat in 2026.”

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