Singapore housing rents soar 8% YoY, elevating its global expense rank

Its housing rent growth matched Hong Kong, the world's most expensive city.

Housing rental prices in Singapore rose by 8% YoY in 2024, positioning the city among the world's most expensive.

According to Mercer, Singapore's housing rent growth was on par with Hong Kong, the most expensive city globally.

Of all the cities in the study, Istanbul saw the highest growth, with rents rising 301% YoY.

In addition to pricey housing markets, high transportation costs and the rising cost of goods and services have pushed Singapore to become one of the world's most expensive cities.

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Mercer

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