What the lease actually signs for
A signed lease is a fact. Everything else about rent in Singapore is a hope, an average, or both.
Where these numbers come from
Landlords must lodge residential tenancy contracts, and the Urban Redevelopment Authority publishes what was signed. That is a different kind of evidence from anything advertised: it is the rent a tenant actually agreed to pay, on a real lease, after whatever negotiation took place. Our book holds 241,495 signed private residential leases, of which 83,039 were signed in the twelve months to the latest published month.
Everything below is that record. No asking rents, no projections.
What Singapore condos actually rent for
| Bedrooms | 25th percentile | Median | 75th percentile | Leases signed |
|---|---|---|---|---|
| 1-bedroom | S$2,900 | S$3,300 | S$3,800 | 16,986 |
| 2-bedroom | S$3,600 | S$4,200 | S$5,000 | 25,887 |
| 3-bedroom | S$4,450 | S$5,300 | S$6,800 | 23,951 |
| 4-bedroom | S$6,400 | S$8,450 | S$12,000 | 5,578 |
Look at the width of those ranges. A three-bedroom condo signs anywhere from S$4,450 to S$6,800 a month within the middle half of the market — a 53% spread. On four-bedrooms it is 88%. Any single “market rent” figure for a bedroom count in Singapore is describing a distribution that wide.
The spread is mostly mix, not negotiation
Here is the part that changes how you should read a rent number. Hold the project, the bedroom count and the quarter still, and take only cells with at least five signed leases. The spread collapses:
| Comparison | Gap between the top and bottom quartile |
|---|---|
| 3-bedroom, whole market | 53% |
| Same project, same bedrooms, same quarter | 8% |
Stretch it to the extremes — the 90th percentile against the 10th, in cells with at least eight leases — and it is still only 17%. So the enormous market-wide range is not telling you that rent is highly negotiable. It is telling you that a three-bedroom in one development is a completely different product from a three-bedroom in another, and the average of the two describes neither.
Practically: “what rent can I get?” has a tight answer at project level and no useful answer at market level. If you are a landlord being told the market rate for a three-bedroom, ask which building it was measured in.
How to read a project's rent record
- Match the bedroom count and the size. Two-bedroom units in the same project can differ by 300 square feet, and the rent follows.
- Look at how many leases sit behind the number. A median of four contracts is a hint; a median of forty is evidence. We print the contract count alongside every published rent figure for exactly this reason.
- Check the quarter. Leases are typically two years, so a rent record is a rolling picture of decisions made across the last two years, not a live quote.
- Do not mix in advertised rents. They are set by one side before any negotiation has happened, and mixing them with signed contracts silently biases the picture upward.
What about yield?
Project pages publish a rental yield where there are enough signed leases to compute one honestly: the project's own median signed rent for a bedroom count, against its own transacted prices. It is a description of what has happened in that building, not a forecast — vacancy, agent fees, maintenance, property tax and financing all sit between a gross yield and anything you would actually keep. We do not publish a yield calculator, because the arithmetic is trivial and the inputs are where every real error lives.
See a project's own rent record. Where there are enough signed leases, each condo page prints the median rent, the range and the number of contracts behind it.
Common questions
What is the average condo rent in Singapore?
Over the twelve months to the latest published month, signed leases had a median of S$3,300 for a 1-bedroom, S$4,200 for a 2-bedroom, S$5,300 for a 3-bedroom and S$8,450 for a 4-bedroom. The middle half of 3-bedroom leases ran from S$4,450 to S$6,800, so the average conceals a very wide range.
Why is the rent range for the same size so wide?
Almost all of it is the difference between buildings and locations rather than negotiation. Within a single project, bedroom count and quarter, the gap between the upper and lower quartile is about 8%.
Are these asking rents or signed rents?
Signed. They come from residential tenancy contracts lodged with and published by the Urban Redevelopment Authority, so each one is a lease a tenant actually agreed to.
How much can I negotiate on rent?
Less than the market-wide range suggests. Once the building, bedroom count and quarter are held still, the spread between the top and bottom quartile of signed leases is around 8%, and 17% between the 90th and 10th percentiles.
Does PriceVero calculate rental yield?
Project pages publish a gross yield where there are enough signed leases to compute one, using that project's own median signed rent and its own transacted prices. It describes what has happened, and it is not a forecast or a projection of returns.
Rental data: residential tenancy contracts lodged with and published by the Urban Redevelopment Authority. Figures are aggregates — medians, percentiles and counts — covering the twelve months to the latest published month; individual contracts are not republished. Transaction data: caveats lodged with the Urban Redevelopment Authority. A PriceVero rating is not a valuation and is not prepared by a licensed valuer.