by Kenny Lee Historical archive · 2026-09-25. Prepared retrospectively on 3 October 2026. Date basis: Verified source update date; original first-publication date not established. Historical prices are not current quotations.
The reported July-to-August movement
| Measure | July 2026 | August 2026 | Month-on-month |
|---|---|---|---|
| Condominium rental volume | 9,627 | 8,318 | −13.6% |
| HDB rental volume | 3,099 | 2,805 | −9.5% |
The 99.co report’s 25 September edition recorded unchanged overall condo rents in August, up 2.5% from a year earlier. CCR rents rose 0.7% month-on-month, RCR 0.6%, while OCR fell 0.4%. HDB rents fell 0.7% from July but remained 1.6% above the year-earlier level.
Volume and rent answer different questions
Fewer leases in a month do not, by themselves, demonstrate falling rents. July provides the comparison base for the volume decline. The regional differences also show why an islandwide condo figure cannot be used to price a specific apartment.
For a landlord, consider the cost of waiting for a higher rent. In a simplified example, one extra vacant month at an intended S$5,000 rent costs S$5,000 of gross income. Reducing the rent by S$200 for eleven occupied months costs S$2,200 against that intended rate. The comparison is illustrative and excludes other costs, but makes vacancy part of the pricing decision.
A practical renewal comparison
A tenant should compare total moving cost, the condition of the alternative and the rent over the intended term. A small monthly saving can disappear into moving and furnishing expenses. A landlord should compare similar signed leases, not merely neighbouring asking rents.
The August data supports a measured reading of recent activity. It does not prove a prolonged rental downturn or provide a forecast for any particular home.