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HDB rental prices in Singapore in Q1 2024: How much to expect for 3, 4 and 5 bedroom apartments?

Rental prices for HDBs in Singapore are high, butHere are several reasons why you might still choose to rent a HDB apartment in Singapore. Some may rent an HDB flat or room while waiting for their BTO flats to be completed, others may do so while prefer to live closer to their workplace or intend to emigrate abroad in the future.

FAnother advantage is flexibility: instead of paying off a 25-year mortgage and spending money on renovations, tenants are free to look for another apartment (usually renovated and furnished) after their existing lease with the landlord expires. Anyway, you probably clicked on this article because you want to rent an HDB flat.

Want to rent an HDB flat but don’t know where to start? Watch our video guide before checking out rental prices in Singapore in Q1 2024. When you’re ready to rent an HDB flat, browse all available listings on PropertyGuru.

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How to rent a HDB apartment

HDB rental apartments under the public rental programme

If you want to rent a HDB flat but are still short of money, you can seek help and apply for the HDB public rental program. If you apply for the public rental program, must do so under the Family Scheme or the Joint Single Scheme. The general rule of thumb is that you cannot apply alone and you must be a Singaporean (at least 21 years old under the Family Scheme, at least 35 years old under the Joint Single Scheme) and prove that your gross household income is $1,500 per month or less.

Under the HDB Public Rental Scheme, rental prices for HDB flats can be extremely low. Depending on their household income, successful applicants then pay a subsidized rent from $26 to $275 per month.

The Public Rental Scheme is different from the Parenthood Provisional Housing Scheme (PPHS). As part of Budget 2024, the PPHS (Open Market) Voucher was announced. Eligible families waiting for their BTO flat to be completed will be provided with a monthly voucher worth $300. The scheme runs for one year and can be used to rent an HDB flat or room on the open market.

Under the PPHS program, two-bedroom apartments cost $400 to $550 a month, while three-bedroom apartments cost $600 to $900. But IIf you are planning to rent a HDB flat on the open market, you would like to know the current rental prices for HDB flats in Singapore in Q1 2024.

Rental prices for HDB apartments in Singapore (Q1 2024)

Cities	1-room	2-room	3-room	4-room	5-room	executive
Ang Mo Kio	–	*	$2,700	$3,350	3,500 US dollars	*
Bedok	–	*	$2,800	$3,200	$3,600	4,000 US dollars
Bishan	–	–	$2,950	3,500 US dollars	$3,900	*
Bukit Batok	–	$2,500	$2,700	$3,200	3,500 US dollars	*
Bukit Merah	*	*	$2,800	$3,800	$4,200	–
Bukit Panjang	–	*	$2,200	3,000 US dollars	$3,300	*
Bukit Timah	–	–	*	*	*	–
Central	–	*	$3,200	$4,350	*	–
Choa Chu Kang	–	*	*	3,000 US dollars	$3,300	$3,550
Clementi	–	*	$2,900	$3,700	$3,800	*
Geylang	–	*	$2,700	$3,400	$3,800	*
Hougang	–	*	$2,600	$3,200	$3,400	3,500 US dollars
Jurong East	–	*	$2,700	$3,350	$3,780	*
Jurong West	–	*	$2,600	$3,200	3,500 US dollars	$3,700
Kallang/Whampoa	–	*	$2,800	$3,600	$3,850	*
Marine Parade	–	–	$2,830	$3,450	*	–
Pasir Ris	–	*	*	$3,300	3,500 US dollars	3,500 US dollars
Punggol	–	*	$2,850	$3,300	$3,300	*
Queenstown	–	*	3,000 US dollars	4,000 US dollars	$4,200	–
Sembawang	–	*	*	3,000 US dollars	$3,300	$3,400
Sengkang	–	*	$2,900	$3,200	$3,400	3,500 US dollars
Serangoon	–	–	$2,800	$3,300	$3,600	*
Tampines	–	*	$2,700	$3,300	$3,600	4,000 US dollars
Toa Payoh	–	*	$2,800	3,500 US dollars	$3,600	*
Forests	–	$2,200	$2,500	3,000 US dollars	$3,300	$3,400
Yishun	–	*	$2,600	3,000 US dollars	$3,300	3,500 US dollars

By the way, an asterisk

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Rental prices in Singapore: 3-room HDB rental prices in Q1 2024

Looking at the median rents for HDB rental transactions in Q1 2024, we estimate HDB rental flat prices for a 3-room flat to be between $2,200 and $3,200 per month.

For families on a budget, core areas such as Bukit Panjang, Woodlands, Hougang, Jurong West and Yishun offer the lowest HDB rental rates in Singapore for 3-bedroom HDB flats. These towns may have a longer commute time to the city centre but offer a good range of amenities.

If you want to rent an apartment on the outskirts or in the center, you should expect to pay at least $2,700 to $3,200.

Rental prices in Singapore: 4-room HDB rental prices in Q1 2024 Looking at the median rents for HDB rental transactions in the first quarter of 2024, we estimate that HDB rental apartment prices for a 4-room flat will be between 3,000 to 4,350 USD per month.

In most neighbourhoods, there was a slight increase in median rental prices for this apartment type in the first quarter of 2024. However, in many HDB estates, there was no change in median rental prices.Bukit Panjang, Woodlands, Yishun, Choa Chu Kang and Sembawang are the cheapest areas for this type of apartment.

For options closer to the city center, you’ll pay between $3,500 and $4,350.

Rental prices in Singapore: 5-room HDB rental prices in Q1 2024

Median rents for 5-room flats in the HDB rental market in Q1 2024 are between USD 3,300 and USD 4,350 per month, depending on location.

Space is probably your main priority if you want to rent a 5-room HDB flat. The cheapest areas for a 5-room flat are Bukit Panjang, Yishun, Sembawang, Punggol, Choa Chu Kang and Woodlands at $3,300 monthly. This is cheaper than a 4-room rental flat in central areas.

However, if you want to live in suburban areas like Bukit Merah or Queenstown, expect to pay a price premium of $3,800 and more as HDB rents here can be quite high!

Price growth for 4-room HDB rental prices (Q4 2023 vs. Q1 2024)	Cities	Rental prices for 4-room HDB apartments (4th quarter 2023)	Rental prices for 4-room HDB apartments (Q1 2024)
% change	Ang Mo Kio	$3,300	$3,350
1.52%	Bedok	$3,200	$3,200
no change	Bishan	3,500 US dollars	3,500 US dollars
no change	Bukit Batok	$3,200	$3,200
no change	Bukit Merah	$3,800	$3,800
no change	Bukit Panjang	3,000 US dollars	3,000 US dollars
no change	Bukit Timah	*	*
N/A	Central	4,000 US dollars	$4,350
8.75%	Choa Chu Kang	3,000 US dollars	3,000 US dollars
no change	Clementi	4,000 US dollars	$3,700
-7.50%	Geylang	$3,530	$3,400
-3.68%	Hougang	$3,200	$3,200
no change	Jurong East	3,150 USD	$3,350
6.35%	Jurong West	$3,280	$3,200
-2.44%	Kallang/Whampoa	$3,600	$3,600
no change	Marine Parade	3,500 US dollars	$3,450
-1.43%	Pasir Ris	$3,200	$3,300
3.13%	Punggol	$3,200	$3,300
3.13%	Queenstown	$4,050	4,000 US dollars
-1.23%	Sembawang	3,000 US dollars	3,000 US dollars
no change	Sengkang	$3,200	$3,200
no change	Serangoon	$3,200	$3,300
3.13%	Tampines	$3,350	$3,300
-1.49%	Toa Payoh	3,500 US dollars	3,500 US dollars
no change	Forests	3,000 US dollars	3,000 US dollars
no change	Yishun	3,000 US dollars	3,000 US dollars

no change

What will the HDB rental trend look like in 2024?

Looking at the 4-room flat types, we can see that the pace of rental price growth has slowed down in 2023 compared to 2022. A look at the rental price growth for other HDB flat types confirms this. This could be partly due to the increased number of approved applications to rent out HDB flats.

In Q1 2024, there were 9,398 approved applications, a 4% quarter-on-quarter decrease compared to the 9,787 cases in Q4 2023 and a 2.7% decrease from the same period last year. In Q1 2024, 58,355 HDB flats were leased, an increase of 0.3% from the 58,159 units in Q4 2023.

Factors such as an increase in the number of completed BTO flats, new BTO launches, private properties receiving their temporary use permit (TOP) and HDB flats meeting their minimum use period (MOP) also contributed to the reduction in rental prices. To cool down the apartment rental market, the number of permitted tenants in larger HDB flats has been temporarily increased to eight people, effective from Jan 22, 2024 to Dec 31, 2026.

As local demand eases due to the completion of more properties, Dr Tan Tee Khoon, Country Manager for Singapore at PropertyGuru, explained: “Tenants can expect some relief in rent restraint as more completed units are available for rental, especially towards the end of the year, providing tenants with more housing options.”

Will HDB rental prices fall by the end of 2024? That’s anyone’s guess, but all signs point to price moderation as early as 2023.

In the meantime, if you are looking for a room for rent in Singapore, you can check out the listings on PropertyGuru and browse all the available rental properties. For more real estate news, content and resources, visit

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