Looking for a HDB flat for rent in Singapore in 2023? Expect high HDB rental pricessay tenants about the rental market in Singapore. Their advice? Adjust your expectations to the rental market, realize that it is much harder to rent as an individual, and watch out for rental scams, among other things.

While HDB rental prices are showing signs of moderation and stabilisation, they are unlikely to drop to pre-pandemic levels. So if you are looking to rent a flat, what costs should you expect?

Referring to the latest HDB data on average rents in Q3 2023, you can expect the following amounts for the different HDB flat types.

Renting a HDB apartment in Singapore

Average HDB rental prices in Q3 2023

*Median rent is not shown as there are less than 20 HDB rental transactions for the location and apartment type in the quarter.

HDB rental prices by apartment size in the 3rd quarter of 2023

This is generally the price range you should expect to pay if you want to rent an entire HDB flat. The lower end of the range typically applies to flats in ‘ulu’ or immature residential areas (e.g. Woodlands and Bukit Panjang), while HDB flats in mature or suburban residential areas (e.g. Toa Payoh and Kallang/Whampoa) command the highest prices. Newer HDB flats or those near amenities such as primary schools, MRT stations or bus stops are usually more expensive.

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How much salary should you budget for the rent of your HDB flat?

To be safe, don’t spend more than 40% of your income on rent. Remember to include a buffer for unexpected costs, new fixed expenses like utilities and WiFi, or even some furniture and houseplants to spruce up your new place. Ideally, you should only spend a third (but we know rent prices are skyrocketing, so we say maybe you should cut back on your daily expenses. After all, something has to happen).

Even if you think you can spend more than 40% of your income on rent, it’s better to be safe than sorry. It’s smart to keep the rest for emergencies and use the rest for your daily expenses, investments and/or purchases that let you treat yourself.

One way to keep HDB flat rental prices within a reasonable budget is to look for cheaper flats outside the city centre, find a roommate/partner to share the rental costs, or consider rent a room instead of an entire apartment.

Apart from HDB flat rental prices, what other costs are involved in renting an HDB flat in Singapore?

Being able to afford rent is one thing, but there are some “invisible” costs that you need to factor into your budget.

First, remember to consider broker fees (if any) and other costs such as Rental Stamp duty and so on. You may also have to pay your landlord a security deposit at the start of your tenancy (and at the end) – make sure you read all the terms carefully.

Your Rental agreement (TA) Repairs may not be covered, so you may have to come up with money for the repairs yourself (get your landlord’s approval first). In this context, you should also consider insurance. Although it is not mandatory, it may be wise to get renters insurance that covers your personal belongings.

Finally, you have to move out and live on your own for the first time. If you’ve lived with your parents before, it can be a shock to learn how much all these regular costs add up:

• Wi-Fi

• Utilities (water, electricity and gas)

• Food and grocery shopping

• Video streaming (e.g. Netflix, Disney+, etc.)

• Other everyday costs

For example, now that you live alone, you can’t “share”—er, share—your family’s Wi-Fi, utilities, or air conditioning. Unless you want to rely solely on your mobile data, you’ll need to get a Wi-Fi plan, pay your utility and electric bills, get the air conditioning serviced, or even buy your own groceries (if you come from a household where cooking is done daily). If your family used to watch Netflix together, you may need to upgrade your account to support simultaneous users or purchase your own video streaming service.

Don’t forget to factor in your usual everyday expenses, such as eating out, doctor’s visits, shopping, transportation, etc. Transportation in particular may be an additional expense you need to factor in if your new home is farther away from your school/work/children’s school.

How to negotiate HDB flat rental prices

1. Sign a longer rental agreement

Are you sure you will rent this equipment for some time? The same principle of “buying in bulk” to save more applies here. Trynegotiate a longer lease with your landlord for a cheaper monthly HDB base rent.

2. Compare rental prices for HDB flats

When it comes to HDB flat rental prices, it’s good to compare the prices of neighbouring developments, just in case your landlord is overcharging you. Look for HDB rental transactions in the same development, or better yet, in the same block.

HDB has a great HDB rental price portal Here you can search for last year’s HDB rental transaction prices by block/street. You can also check out PropertyGuru’s listings of HDB flats for rent to see what other landlords are asking (and to get an idea of ​​the condition of the house by looking at pictures etc.).

3. Check whether the HDB flat for rent is furnished

Speaking of pictures, our HDB rental listings also indicate whether the unit is fully furnished, partially furnished or unfurnished. A fully furnished unit will definitely fetch a higher rental price at Singapore HDB.

However, it is not always cheaper to rent an unfurnished HDB flat and decorate it to your liking. Be sure to calculate your budget for furnishings, as that gold canopy bed could put a hole in your wallet.

Also, compare like-for-likes; rent for an unfurnished home should not cost the same as a fully furnished unit.

4. Build a good relationship with your agent and potential landlord

If you build a good relationship with the agent/landlord, they may also offer you a better HDB rental price. It may also be helpful to mention your price during the final negotiation – after researching HDB rental transaction prices, of course.

5. Protect yourself from rental fraudsters

As the rental market grew exponentially during the COVID-19 pandemic, the number of rental fraud cases also increased by almost five-fold, with numerous victims falling victim to various scams on social media platforms.

Important tips to protect yourself include using reliable property listing websites such as PropertyGuru rather than social media platforms such as Facebook Marketplace groups or WhatsApp and Telegram chats, always research the agent representing you on the Council for Estate Agencies (CEA) website and insist on attending a viewing to meet the agent in person before paying a deposit to verify the agent and the rental opportunity.

If it sounds too good to be true, it usually is. So if you keep all of these tips in mind, you should have no problem finding a rental within your budget that meets all of your criteria and needs.

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