キーポイント
- A total of 22,290 rental contracts of island-wide private residential properties (excluding ECs) commenced during the quarter, up 5.1% from the 21,203 contracts recorded in the previous quarter.
- The URA rental index for non-landed private residential properties rose 0.4% QoQ.
- Based on Savills basket of high-end non-landed residential properties, the average monthly rent continued its upward trajectory, rising by 1.4% QoQ.
- Despite limited new completions, the overall vacancy rate of completed private residential properties (excluding ECs) rose to 6.4% in Q2/2026.
- While Singapore’s economic growth in 2026 is expected to outperform the official 2% to 4% forecast, the benefits to the residential leasing market may be limited. Mixed free cash flow trends among MNCs could restrain expatriate deployment overseas, while the removal of the 15-month wait-out period for private homeowners moving to HDB flats may reduce domestic leasing demand. Accordingly, we maintain our view that private residential rents will remain broadly flat in 2026.
