The continued strong demand has given a boost to rents. The average monthly rent for condominiums in Singapore was $3.33 psf in 2021 before surging to $4.03 psf last year. The current average residential rent is $4.84 psf per month, a growth of 27% since 2013.
Residential rents grew despite headwinds
The volume of rental transactions hit a record high of 88,820 transactions in 2021 before easing to 81,375 transactions last year. So far, 11,895 transactions have been recorded for this year.
