Rental price increases have continued unabated in 2022.
Driven by demand from couples and couples waiting for their BTO flats, adults moving out to find their own space and foreigners (both returning and new) coming to Singapore, landlords can afford to cherry-pick their prospective tenants and still command higher rents. The September 2022 cooling measures may have also contributed to the alleviated demand as private property sellers will need an extended interim housing solution while they wait out 15 months before they can buy a non-subsidised HDB resale flat.
Whether you are a prospective tenant or landlord, here’s a look at where are the most affordable and expensive estates in Singapore to rent an HDB flat.
Read Also: What Landlords Need To Know Before Renting Out Their HDB Flat or Bedroom In Singapore
HDB Rental Prices
| Town | 3-Room | 4-Room | 5-Room | Executive |
| Ang Mo Kio | $2,300 | $2,900 | $3,150 | * |
| Bedok | $2,300 | $2,800 | $3,000 | * |
| Bishan | $2,600 | $3,200 | $3,550 | * |
| Bukit Batok | $2,200 | $2,650 | $3,200 | * |
| Bukit Merah | $2,600 | $3,500 | $3,800 | – |
| Bukit Panjang | $2,000 | $2,850 | $3,000 | $3,250 |
| Bukit Timah | * | * | * | * |
| Central | $2,800 | $3,850 | * | – |
| Choa Chu Kang | $2,800 | $2,800 | $3,000 | $3,000 |
| Clementi | $2,500 | $3,200 | $3,400 | – |
| Geylang | $2,350 | $3,000 | * | * |
| Hougang | $2,300 | $2,750 | $2,700 | $3,000 |
| Jurong East | $2,500 | $2,900 | $3,100 | * |
| Jurong West | $2,200 | $2,900 | $3,030 | $3,200 |
| Kallang/ Whampoa | $2,450 | $3,100 | $3,700 | * |
| Marine Parade | $2,400 | $3,350 | * | – |
| Pasir Ris | * | $2,700 | $3,000 | $3,300 |
| Punggol | $2,850 | $3,000 | $3,100 | * |
| Queenstown | $2,730 | $3,600 | $4,200 | * |
| Sembawang | * | $3,000 | $2,870 | $3,000 |
| Sengkang | $2,550 | $3,000 | $3,100 | $3,000 |
| Serangoon | $2,500 | $3,200 | $2,800 | * |
| Tampines | $2,500 | $2,800 | $3,200 | $3,200 |
| Toa Payoh | $2,400 | $3,450 | $3,200 | * |
| Woodlands | $2,200 | $2,650 | $3,100 | $2,900 |
| Yishun | $2,400 | $2,800 | $3,150 | * |
| Average | $2,453 | $3,038 | $3,198 | $3,094 |
Median HDB Rent based on HDB rental approvals in 4Q2022. Source: HDB. “-” indicates there were no transactions recorded in the quarter, while “*” indicates there were less than 20 transactions recorded in the quarter.
Note: this guide is based on the median HDB rent prices for the fourth quarter of 2022 which we can expect to form the basis of prices for the remainder of 2023. These rent prices are for the entire HDB flat. Individual room rents will differ from entire flat rates. 1-room and 2-room HDB flats are excluded.
Most Affordable Estates To Rent An HDB Flat
While HDB rental prices have been increasing, prospective tenants can save some money by moving into one of the more affordable estates.
The average median rents in 4Q2022 are $2,453 for 3-room flats, $3,038 for 4-room, $3,198 for 5-room and $3,094 for executive flats. This is a 19%, 23%, 22% and 21% increase from 2Q2022, in just 6 months.
| 2Q2022 | 4Q2022 | |
| 3-Room | $2,070 | $2,453 (19% increase) |
| 4-Room | $2,465 | $3,038 (23% increase) |
| 5-Room | $2,620 | $3,198 (22% increase) |
| Executive | $2,568 | $3,094 (21% increase) |
Cheapest Estates For 3-Room Flat Rentals
| Town | Median Rent | Increase from 2Q2022 |
| Bukit Panjang | $2,000 | $300, 18% |
| Bukit Batok | $2,200 | $300, 16% |
| Jurong West | $2,200 | $270, 14% |
| Woodlands | $2,200 | $200, 10% |
The cheapest estates to rent a flat are surprisingly not at the ends of the island. While not prime locations, Bukit Panjang, Jurong West and Woodlands are non-mature estates relatively well-established with amenities and served by existing MRT lines.
Bukit Panjang continues to be the cheapest estate at $2,000, though median rents have risen by 18%, from $1,700. Meanwhile, Bukit Batok, Jurong West and Woodlands tie in second place at $2,200 with increases of 10% to 14%.
Compared to the average rent of $2,453, renting in these estates will save you around 11% to 19%
Note: Bukit Timah, Sembawang, and Pasir Ris rent prices were excluded due to lack of transaction records.
Cheapest Estates For 4-Room Flat Rentals
| Town | Median Rent | Increase from 2Q2022 |
| Bukit Batok | $2,650 | $250, 10% |
| Woodlands | $2,650 | $350, 15% |
| Pasir Ris | $2,700 | $400, 17% |
The 3 cheapest estates for 4-room flats rentals are Bukit Batok, Woodlands and Pasir Ris. This is a switch up from Choa Chu Kang, Hougang and Sembawang at 2Q2022.
Even in these estates, rents have gone up by 10% for Bukit Batok, 15% for Woodlands and 17% for Pasirs, lower than the average increase of 23% for 4-room flat rentals.
Even with the increase, renting in these estates will save you around 12% compared to the average rent at $3,038 for 4-room flats.
Note: Bukit Timah rent prices were excluded due to a lack of transaction records.
Read Also: Neighbourhood Estate Guide: Why Woodlands Can Be The Star Destination Of The North
Cheapest Estates For 5-Room Flat Rentals
| Town | Median Rent | Increase from 2Q2022 |
| Hougang | $2,700 | $200, 8% |
| Serangoon | $2,800 | $100, 4% |
| Sembawang | $2,870 | $470, 20% |
Surprisingly, the cheapest rents for 5-room flats are not that far from 4-room flats, being just $50 to $100 more.
Hougang is the cheapest estates to rent a 5-room flat at $2,700, followed by Serangoon and Sembawang at $2,800 and $2,870. These estates have also increased in rent by 4% to 20%.
The rents in these estates are between 10% and 14% cheaper than the average rent for 5-room flats.
Note: Central, Marine Parade and Bukit Timah rent prices were excluded due to a lack of transaction records.
Cheapest Estates For Executive Flat Rentals
| Town | Median Rent | Increase from 2Q2022 |
| Woodlands | $2,900 | $400, 16% |
| Hougang | $3,000 | $370, 14% |
| Choa Chu Kang | $3,000 | $350, 13% |
| Sembawang | $3,000 | $750, 33% |
| Sengkang | $3,000 | $500, 20% |
Executive flat types, being less common, have fewer estates with transactional data available. Regardless, the median rents have also increased by 21% on average from 2Q2022.
The cheapest estate to rent these slightly larger flats is Woodlands at $2,900. The next cheapest estates are Hougang, Choa Chu Kang, Sembawang and Sengkang at $3,000, which is close to the average rent of $3,094.
Note: Bukit Merah, Central, Clementi, Marine Parade, Ang Mo Kio, Bedok, Bishan, Bukit Timah, Geylang, Jurong East, Kallang/ Whampoa, Punggol, Queenstown, Serangoon, Toa Payoh and Yishun rent prices were excluded due to lack of transaction records.
Read Also: Neighbourhood Estate Guide: Why Hougang Is No Longer The Backwater Of Singapore
Most Expensive Estates To Rent An HDB Flat
On the opposite end of the spectrum, we have the most expensive estates to rent, which also tends to be the estates with the most $1 million flats.
Read Also: 21 Housing Estates That Have HDB Flats More Than $1 Million
Most Expensive Estates For 3-Room Flat Rentals
| Town | Median Rent | Increase from 2Q2022 |
| Punggol | $2,850 | $520, 22% |
| Central | $2,800 | $450, 19% |
| Choa Chu Kang | $2,800 | $750, 37% |
Overall, median rents for 3-room flats have increased by 19% from 2Q2022 to 4Q2022.
The most expensive 3-room flat rents are in Punggol ($2,850), followed by Central ($2,800) and Choa Chu Kang ($2,800). While high rents in Central are expected due to the prime location, the high rents for Punggol and Choa Chu Kang are likely due to the new flats and scarcity of the 3-room flat type in these estates.
Choa Chu Kang’s median rent price increase from $2,050 in 2Q2022 to $$2,800 in 4Q2022 is the highest rent increase for 3-room flat type in the 2 quarters.
Renting in these 3 estates will cost you a premium of 14% to 16% over the average median rent of $2,453.
Note: Bukit Timah, Sembawang, and Pasir Ris rent prices were excluded due to lack of transaction records.
Most Expensive Estates For 4-Room Flat Rentals
| Town | Median Rent | Increase from 2Q2022 |
| Central | $3,850 | $800, 26% |
| Queenstown | $3,600 | $350, 13% |
| Bukit Merah | $3,500 | $370, 14% |
Again, Central and Queenstown, along with Bukit Merah (which lies between them), form the most expensive estates for 4-room flat rentals. Given that these estates have been earmarked for the recent Prime Location Public Housing BTO launches, there may be no contesting their desirability in terms of location.
This bears out in the premium these estates command over the average of $3,038 for 4-room flats of between 15 and 26%.
Note: Bukit Timah rent prices were excluded due to lack of transaction records.
Most Expensive Estates For 5-Room Flat Rentals
| Town | Median Rent | Increase from 2Q2022 |
| Queenstown | $4,200 | $1000, 31% |
| Bukit Merah | $3,800 | $800, 27% |
| Kallang/ Whampoa | $3,700 | $750, 25% |
Again, Queenstown, Bukit Merah, Kallang/ Whampoa form the 3 most expensive estates for 5-room flat rentals. These estates are all city fringe locations, sought for their accessibility and established amenities. Unsurprisingly, these estates have also been ranking highly for estates with the $1-million flats
Staying in these estates will cost you between 16% to 31% more than average rental for a 5-room flat at $3,198.
Note: Central, Marine Parade and Bukit Timah rent prices were excluded due to a lack of transaction records.
Most Expensive Estates For Executive Flat Rentals
| Town | Median Rent | Increase from 2Q2022 |
| Pasir Ris | $3,300 | $520, 19% |
| Bukit Panjang | $3,250 | no data for 2Q2022 |
| Tampines | $3,200 | $500, 19% |
| Jurong West | $3,200 | $500, 19% |
Executive flat types, being less common, have fewer estates with transactional data available. Regardless, the median rents have also increased by 21% on average from 2Q2022.
Given the smaller number of estates, the estates with median rents above the average of $3,094 from the most expensive estates: Pasir Ris, Bukit Panjang, Tampines and Jurong West
Note: Bukit Merah, Central, Clementi, Marine Parade, Ang Mo Kio, Bedok, Bishan, Bukit Timah, Geylang, Jurong East, Kallang/ Whampoa, Punggol, Queenstown, Serangoon, Toa Payoh and Yishun rent prices were excluded due to lack of transaction records.
Read Also: Complete Cost Guide To Renting An HDB Flat In Singapore
Rents Have Increased About 20% In 6 Months
Since our last rental guide on 2Q2022 HDB rental prices, rent prices have soared by around 20% across all flat types and all estates. Even less popular estates such as Choa Chu Kang and Sembawang has seen their rent prices go up by 36% (for Choa Chu Kang’s 3-room flats) and 37% (for Sembawang’s 4-room flats).
For prospective tenants, renting larger 5-room or executive flats in the cheapest estates will give you more floor area for your money. The extra space be split between housemates or just to give your and your family more living space without necessarily paying a lot more.
For prospective landlords, 4-room flats remain the most popular and have seen the strongest rent increase in 2022. Flats located in Central and the city fringe areas of Bukit Merah, Queenstown and Kallang/Whampoa continue to command a high premium due to their prime location and established amenities.
The post [2023 Edition] HDB Rental Guide: Which Are The Most Affordable (And Most Expensive) HDB Estates In Singapore? appeared first on DollarsAndSense.sg.
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