The slower price increase for non-landed private properties in Q3 2024 reflects key market dynamics in Singapore, driven by rising supply and softening demand. A robust supply of new housing, combined with declining interest from locals and expatriates, has eased the rental market pressure. The 0.3% increase in the condominium rental index, particularly in areas outside the Core Region, signals a cooling trend.

With an additional 18,500 units set to be completed by 2025, analysts predict further moderation, potentially stabilizing rents as supply catches up with demand. This trend could result in a more balanced market by year-end.

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Condominium Option

1 Bedroom

• Size: 1 bedroom/1 bath
• Rent: $3,100, Fully furnished

2 Bedrooms

• Size: 2 bedrooms/2 baths
• Rent: $4,380, Fully furnished

3 Bedrooms

• Size: 3 bedrooms/2 baths
• Rent: $7,500, Fully furnished