Is Singapore’s Rental Market Really Softening? We Break Down The 2024 Numbers By Unit Size

Most landlords and agents agree that, with housing supply stabilising after Covid, the rental market is set to soften. But there are also contradictory opinions: some property agents have also pointed to 60 per cent ABSD rates as a sign that more foreigners will rent rather than buy; whilst some landlords feel that falling interest rates will result in higher yields. It’s a good time to get some clarity and sense of direction, so we dived into present-day rental numbers based on unit sizes:

Note: For the following, we are using rental and resale transactions that occurred for the whole of 2024. Gross rental yield is the annual rental income/total cost, and does not take into account other recurring costs like maintenance fees.

Present performance of 1-bedder condo units

Island-wide, the average gross rental yield of a 1-bedder condo is 4.1 per cent. The top three performers for 1-bedders are:…