The Ultimate Guide to Renting in Singapore (2025)

How Much Does It Cost to Rent a Home in Singapore?

HDB Flat Rental Rates

HDB flats are typically more affordable than private housing. Rental prices vary depending on the flat’s location and size. Flats in mature estates or central areas are usually more expensive, while those in outlying towns like Woodlands or Yishun are more budget-friendly.

Older HDB flats, especially those built in the 1990s or earlier, tend to be more spacious. Unique options like jumbo flats and maisonettes exist but are rare.

Condo Rental Rates

Private condos come with a wider variety of sizes and layouts, and their rents are calculated based on the unit’s size (psf rate) and district. Expect higher prices in areas like Orchard or Marina Bay, while suburban condos in places like Punggol or Sengkang may be more affordable.

Other Costs to Consider

Security Deposit

Almost all landlords in Singapore require a security deposit. While there are no laws dictating the amount, the standard practice is one month’s rent for every year of the lease. For shorter leases, such as six months, the deposit is typically half a month’s rent.

Unlike some countries, landlords in Singapore are not required to hold your deposit in an escrow account. Instead, the deposit is paid directly to the landlord and used to cover damages, lease breaches, or other costs.

Good Faith Deposit

Before signing the Tenancy Agreement, you may need to pay a good faith deposit when issuing a Letter of Intent (LOI). This is later converted into your security deposit once the TA is finalized.

Insurance

It’s wise to have life or income protection insurance to cover your rent in case you lose your income. This is especially important if you’re the sole breadwinner supporting loved ones.

What to Consider When Picking a Place to Rent

1. Budget and Financial Planning

Before you start your search, set a clear rental budget to avoid overspending. Factor in your monthly income and expenses, and ensure you maintain an emergency fund that covers 3 to 6 months of living costs, including rent.

For example, a $1,500 monthly budget might get you a small condo unit in suburban Tampines, but you may need to look further afield for larger spaces or central locations.

2. Lifestyle Requirements

Think about your lifestyle needs. For instance:

• Do you have pets? While some landlords allow pets, HDB flats only permit certain dog breeds, and cats are not allowed.
• Do you smoke? Some landlords have strict non-smoking policies.
• If renting a shared space, are there rules about using common areas, cooking certain foods, or having guests over?

Ensure these details are outlined in the Tenancy Agreement to avoid disputes.

3. Living Space

Determine how much space you need. Singles typically look for units around 500–600 sq. ft., while families often prefer spaces over 1,100 sq. ft. Don’t forget to account for storage needs, like wardrobes, sports gear, or other personal belongings.

4. Accessibility

Singapore’s public transport system makes most areas easily accessible, but proximity matters:

• Can you reach work or school on time?
• How far is the nearest MRT station, bus stop, or mall?
• Are there nearby parks, beaches, or other leisure spots you frequent?
• What’s the traffic situation during rush hours?

Units closer to MRT stations and malls usually come with higher rents, but the convenience can be worth the premium.

5. Facilities and Amenities

For condos, check the condition of facilities like the pool, gym, or BBQ pits. Renting a condo loses its appeal if the amenities are poorly maintained.

Nearby amenities also matter:

• Supermarkets or wet markets for daily groceries
• Eateries or food courts that match your budget
• Healthcare facilities or clinics
• Schools, parks, and recreational areas

6. Furnished, Semi-Furnished, or Unfurnished?

Rental units in Singapore are available in different states of furnishing:

• Furnished units are ideal for short-term leases (6 months to 1 year) since they save the hassle of buying and later selling furniture.
• Unfurnished units are better for long-term tenants, as they allow you to customize the space or use your own furniture.

If renting a furnished unit, you’ll receive an inventory list from the landlord. Before moving in, check the condition of each item and document any existing damages to avoid disputes later.

7. Length of Lease

Leases in Singapore typically range from 6 months to 2 years. Some landlords prefer longer leases to reduce turnover, while others may offer shorter terms. Short-term leases may come with higher monthly rents.

8. Neighbours

Your neighbours can significantly impact your living experience. For shared flats, ensure you’re comfortable with the other tenants’ lifestyles, such as their cleanliness, noise levels, or habits like smoking.

Pro Tips for Renting in Singapore

Negotiate When Possible

Although some landlords stick firmly to their asking price, it doesn’t hurt to negotiate, especially for longer leases. Landlords may also be open to providing additional perks, such as minor renovations or replacing old appliances.

Work With a Property Agent

Engaging a property agent can save you time and hassle. Agents are familiar with market trends, paperwork, and the quirks of Singapore’s rental market. Note that you may need to pay your agent a fee, usually equivalent to half a month’s rent for a one-year lease.

Inspect the Property Thoroughly

Before signing the Tenancy Agreement, inspect the unit carefully. Look for issues like leaks, faulty electrical outlets, or damaged furniture. Take photos of the unit’s condition when moving in to avoid being held accountable for pre-existing issues.