by OrangeTee & Tie Pte Ltd.

Condo, HDB rental volumes bounce back in March; rents continue to rise

SRX Rental Data

Singapore, 13 Apr 2022

After dropping for several months, rental numbers for HDB flats and condos returned in March, although rents continued to rise.

Last month, HDB rents reached a new high, exceeding the previous high of August 2013 by 1%. In January 2013, condo rents were 0.8 percent lower than they had been.

According to industry observers, this is due to the relaxation of safe management procedures, which allowed for more viewings, as well as the return of foreign workers and expats following Singapore's reopening of its borders. 

Ms Christine Sun, senior vice-president of research and analytics at real estate firm OrangeTee & Tie, said: “In recent weeks, we noticed an increase in inquiries and units leased to Malaysian workers after border restrictions were eased.”

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