Private rents rise 0.7% in Q2

Landed-home rents recorded their fastest quarterly growth since Q3 2024.

Private residential rents increased 0.7% QoQ in Q2 2026, accelerating from the 0.3% growth recorded in Q1, according to Realion Research.

Private rents were 1.7% higher than a year earlier.

Landed-home rents rose 2.7%, up from 0.1% in the previous quarter. This was the segment’s strongest quarterly growth since Q3 2024.

Non-landed rents increased 0.4%, remaining below 1% for a third consecutive quarter.

By region, condominium rents in the Core Central Region rose 1.2%. Rents were unchanged in the Rest of Central Region and declined 0.3% in the Outside Central Region.

Private rental transactions increased 5.1% from 21,203 units in Q1 to 22,290 units in Q2, marking a second consecutive quarterly rise. Volume was 3% higher YoY.

Realion attributed the increase partly to expatriate inflows linked to multinational companies establishing or expanding their Singapore operations. Stabilising rental prices may also have encouraged tenants to sign leases.

Rental growth was supported by lower housing completions. About 700 private homes, excluding executive condominiums, were completed in Q2, down 23.2% from 911 units in Q1.

However, around 5,012 more units are expected to be completed in the second half of 2026, which could ease pressure on rents.

The overall private residential occupancy rate remained at 93.6% in Q2.

Realion expects private rents to increase 2% to 3% for the whole of 2026, with 82,000 to 87,000 homes leased.

It cautioned that demand could soften if economic conditions worsen. Landlords may also face greater competition as more flats reach their five-year minimum occupation period and enter the rental market.

Meanwhile, HDB rents rose 0.4% QoQ and 1.5% YoY.

Approved applications to rent out HDB flats increased 4.9% from Q1 to 10,002 but were 0.6% lower than a year earlier.

Realion forecasts HDB rents to rise 1% to 3% in 2026, with 36,000 to 39,000 approved rental applications.

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