Ever heard of studio apartments in Singapore? A studio apartment is a compact apartment with a single room and a bathroom. You cook, clean, sleep and basically do everything in one space that is usually 200 to 500 square feet. Depending on the space, you might even be lucky enough to have a balcony!

Studio apartments are built for individuals or couples and are quite affordable due to their small size, offering the ideal compromise between affordability and privacy.

With dwindling rental supply and increasing demand, Rental prices for private properties have reached record highsSo, if you have decided to rent a studio in Singapore, we are here to help you find a suitable rental property.

Studio Apartment Singapore: How do rental prices for studio apartments in Singapore differ?

Singapore may be a small country, but your lifestyle, your wallet and your morning commute are determined by where you live. Renting a studio apartment in Singapore depends on factors such as:

Therefore, studio apartments are most expensive in and around the CBD, the country’s main shopping, healthcare and entertainment zone. Areas such as Raffles Place, Tanjong Pagar, Marina Bay Sands, Orchard and River Valley are popular with working singles/couples and expatriates.

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Typically, the further you move away from the city centre, the lower the rents become, so the further you move towards the western, eastern, northern and northeastern districts of Singapore, the cheaper the housing units become.

Studio apartments are a great option for singles who want to be independent, but they’re also spacious enough to accommodate couples or friends sharing an apartment. Even if you’re on a tight budget, you’ll certainly be grateful for the affordable utilities and low rent.

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Studio Apartments for Rent in Singapore: Price Estimates

If you are looking to rent a studio in Singapore or have already decided to do so, we have compiled a list of studio apartments for you to choose from.

Here is a range of approximate rental prices for studio apartments, depending on their location*:

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*Prices are taken from available listings on the PropertyGuru website as of June 14, 2022 (subject to change as listings are added or removed).

Studio Apartment Singapore: Are there studio apartments for rent in Singapore for under $2,000?

According to the Singapore Property Market Report Q2 2022, asking prices in the HDB resale and rental market are at an all-time high and are on an upward trend. Rent prices continue to riseit can be difficult to find affordable accommodation.

Right now, the cheapest studio apartment starts at $1,700. The usual price for most studio apartments is between $2,000 and $3,000. To save you the hassle of finding a reasonably priced studio in the area of ​​your choice, here is a list of Condominiums Studio Apartments In Singapore it costs less than $2,000.

Cheap studio apartment for rent in Singapore

Don’t like any of these apartments? Browse all Studio apartments for rent in Singapore on the PropertyGuru website.

Related articles: Renting a room or studio apartment in Singapore: 5 factors to help you decide

Co-Living Spaces: Alternative to Renting in Singapore

If $2,000 is over your budget, you might consider: Co-living spaces, How The meeting placewhere you have a private room but use shared facilities (e.g. kitchen, laundry room).

Cheap studio apartment for rent in Singapore: HDB Studio Apartments

Did you know that HDB studio apartments also exist? However, it is not easy to qualify for one.

Studio for rent in Singapore: What are HDB studio apartments?

HDB studio apartments can only be rented to Singapore citizens under Public rental system as a family (without household income), as a couple or as individuals.

There are extremely strict Income and financial background requirements You need to fulfill to rent a studio apartment from HDB. This is different from renting a Parenthood Provisional Housing Scheme (PPHS) HDB rental apartment.

HDB studios are designed for people who are in dire need of a rental accommodation. They are also subsidized to cater to Singaporean households with a low monthly income of less than $1,500. The monthly rent also depends on the household’s income.

If you qualify, HDB studio apartments are an affordable housing option for low-income Singaporeans above the age of 21. These studios come in the form of 1-bedroom/2-bedroom apartments and are spread across the island, but you can only choose from the following 4 zones:

• Ang Mo Kio

• Bedok/ Tampines

• Bukit Merah/ Jurong

• Forests

The monthly rent charged by HDB is calculated based on your monthly income and whether you are applying for the first or second time.

If the requirements are met, you can generally rent a one-bedroom HDB flat. A security deposit of one month’s rent is required when signing the rental agreement. View all available HDB flats for rent. within the framework of this regulation here.

HDB Studio Apartment for Rent in Singapore: Rental Prices in 2022

The monthly rent paid by first and second applicants for HDB studio apartments is as follows:

Source: HDB

On average, rent for a private condominium studio apartment in Singapore costs between $1,600 and $2,000 per month. Even the most expensive rent of $205 to $275 per month is subsidized by HDB to only a fraction of that amount.

Studio Apartment Singapore: Shoebox and Studio Apartment Trends

A studio apartment is usually intended for investors, renters or individuals looking for a cozy space. Data shows that studio apartments and Shoebox units are becoming increasingly popular among Singaporeans. Here are some reasons why.

1. The average household size has shrunk since the 1980s, less space required

According to a Population trend report from 2021The average household size in Singapore has fallen significantly, from 4.87 persons in 1980 to 3.22 persons in 2020.

This is due to lifestyle changes (e.g. marrying later in life) and the increasing costs of raising children. People need less space, so naturally it makes sense to look for a smaller unit.

2. Locals fuel the rental market

Permanently Delays in BTO construction have pushed young families to enter the rental market while they wait for their homes to be completed. In addition, single millennials and unmarried couples are increasingly moving out of their parents’ homes due to a desire for space and privacy.

These groups of people would likely choose a studio apartment because the rent is often relatively cheap and offers them the space and privacy they desire.

3. More and more foreigners are returning and renting apartments as borders reopen

Throughout the pandemic, it was mainly locals who drove the rental market. But as safety measures ease and borders reopen, more expatriates and foreign students are returning to Singapore.

These factors led to a further Increase in rental prices across all apartment types. Of course, studio apartments are preferred in Singapore as they are relatively cheaper to rent compared to an entire multi-room unit.

4. Studio apartments are ideal for investors

From an investor’s perspective, shoebox apartments like studio apartments are a better investment than their larger counterparts.

When it comes to sales, studio apartments have outperformed larger condominiums in the real estate market. A study by Knight Frank The study found that those who sold their shoebox apartments earned an average capital gain of 11.5 percent, compared to the 10.6 percent average achieved in resale deals for units of all sizes since their introduction in 2010.

Therefore, over the past 10 years, private developers have increased the supply of studio apartments to meet the increased investment demand for smaller rental units. All of this has contributed to a growing trend of studio apartment rentals in Singapore.

It doesn’t hurt that studio apartments are less expensive than larger units due to their smaller size, which means lower upfront costs for investors.

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Rent a studio apartment in Singapore

As mentioned above, there are many studio apartments on the rental market and most of the residents of these studios are renters. This is because studio apartments are a fantastic rental option for singles, while also being large enough to accommodate couples, roommates, or small expatriate families on a tight rental budget.

Those worried about living in a small space need not worry.

There are many simple yet fashionable ways to deal with a lack of space. For example, by replacing swing doors with sliding doors, using multi-purpose furniture, using Storage solutions for homeJack and Jill installation bathroom and the decision to use color differentiation to distinguish areas within a house are some Interior design Hacks that will help you create a sense of space.

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