Q2 rents for 1- to 4-bedroom units rise year-on-year while 5-bedroom declines
Overall private residential rents dip marginally quarter-on-quarter but expected to hold steady
(Please note all data here exclude outliers*)
Savills Research reports that in Q2/2025, the top three areas commanding the highest average** median rents for 3-bedroom*** non-landed private residential units were:
- District 4 (Harbourfront/Telok Blangah) – S$8,500
- District 1 (Boat Quay/Marina/Raffles Place) – S$8,475
- District 9 (Orchard/River Valley) – S$7,500
Districts 4 (Harbourfront/Telok Blangah) and 1 (Boat Quay/Marina/Raffles Place) retained their top-tier positions amid continued demand for centrally located homes with lifestyle appeal. District 9 (Orchard/River Valley) re-entered the top three, overtaking District 2 (Chinatown/Tanjong Pagar), which saw rents fall to S$6,000 in the second quarter.
Overall, median rents for 1-to-5-bedroom non-landed private properties were flat quarter-on-quarter (QoQ) in Q2/2025. This suggests growing market stability. However, a closer look at the more popular 1- to 3-bedroom segment shows an average decline of 0.1% QoQ.
Staying within the 1-to 3-bedroom types, rents fell for the Core Central Region (CCR) and Rest of Central Region (RCR) by 0.3% and 0.1% respectively QoQ. The Outside of Central Region (OCR) saw rents staying unchanged for the quarter.
Despite a marginal softening in Q2, rents remain 1% higher compared to the same quarter last year (Q2/2024). The 1- to 3-bedroom segment posted a 1.1% year-on-year (YoY) increase, while 5-bedroom rents fell 3.9% amid tenants downsizing to more affordable configurations.
At a more granular level, rents increased YoY for:
- 1-bedroom units: 1.1%
- 2-bedroom units: 0.7%
- 3-bedroom units: 2.0%
- 4-bedroom units: 2.3%
Alan Cheong, Executive Director, Research & Consultancy, Savills Singapore comments, “The April 2025 US trade tariffs have heightened global uncertainty, leading many firms to delay hiring and expansion decisions. While this may place some pressure on leasing activity, most landlords remain firm in their asking rents due to higher property taxes and rising conservancy charges. These cost pressures are likely to prevent significant rental declines.”
“We expect rental pressures to be more pronounced for 1- and 2-bedroom types in upcoming quarters due to a wave of new completions. At the other end, some tenants may trade down from 5-bedroom units to smaller configurations as housing budgets tighten.”
Looking ahead, Savills expects rents to stay largely flat for the rest of 2025, barring any sharp escalation in macroeconomic or geopolitical uncertainty.