Private home rental prices in Singapore have been surging as both locals and foreigners scramble to secure rental accommodation amidst housing construction delays and a fresh inflow of expatriates. Rental prices for private properties have risen by 20% to 40% on average, with many landlords raising rents in order to capitalise on the spike in demand.
In Q2 2022, the median per square foot (PSF) asking prices of listed rental units for non-landed private property on PropertyGuru grew 8.89% quarter-on-quarter (QoQ), while landed property asking prices grew 15.30% QoQ. According to the PropertyGuru Singapore Property Market Report Q3 2022, these higher asking prices could possibly mean we will see greater rental price growth in Q3 2022.
So, which condos are renters flocking to? We took a look at the 10 projects which saw the highest demand, based on the number of converted sessions from PropertyGuru’s listings for rent.
Top 10 Most Popular Condos for Rent in Q2 2022
1. Stirling Residences: New City Fringe Condo
Located in the highly desirable Queenstown neighbourhood, Stirling Residences is located only a four-minute walk from Queenstown MRT station on the East West Line, which takes residents to Raffles Place in the Central Business District (CBD) in just 13 minutes via train.
Besides an excellent city fringe location on Stirling Road, Stirling Residences also has the advantage of being a newly-built development having obtained its Temporary Occupation Permit (TOP) in 2022. With 1,259 units available, it is also a relatively large development with a high number of units available for rent.
Browse all Stirling Residences units for rent on PropertyGuru.
2. Park Colonial: New Condo in Woodleigh
Park Colonial is an 805-unit development which is a short three-minute walk from Woodleigh MRT station on the North East Line. The 99-year leasehold project received its TOP this year.
Families with school-going children who intend to rent at Park Colonial will be pleased to know that the condo is close to many schools, including: Cedar Primary School, Cedar Girls’ Secondary School, St Andrew’s Secondary School, St Andrew’s Junior School, St Andrew’s Junior College, and the Stamford American International School Singapore.
Browse all Park Colonial units for rent on PropertyGuru.
3. Urban Vista: Attractive East Side Location
Located along Tanah Merah Kechil Link, Urban Vista is located just a four-minute walk from Tanah Merah MRT station, which connects directly to Raffles Place MRT station in the CBD via the East West Line.
The 2016 condo is located in a quiet neighbourhood not too far from sporting and recreational amenities such as Heartbeat@Bedok, Bedok Reservoir, and East Coast Park.
Trendy cafes and bars along Katong and Siglap, areas in the east of Singapore which tend to be popular amongst expatriates, are a short 15-minute drive away. The development also enjoys proximity to popular local food hotspots such as Simpang Bedok and Bedok 85 Market.
Browse all Urban Vista units for rent on PropertyGuru.
4. Parc Oasis: One MRT Stop Away from JCube, Westgate, Jem
The transformation of the Jurong Lake District into Singapore’s second CBD has no doubt contributed to the popularity of Parc Oasis amongst renters. The 1995 development consists of 950 units, which means there are likely plenty of units to go around.
The condo development, which is located just 3 minutes’ walk from Chinese Garden MRT, enjoys quick access by train to the Jurong East shopping area, which is populated by malls such as JEM, Westgate and JCube.
Those who enjoy living near nature spaces will appreciate the project’s proximity to Jurong Lake Gardens and the Jurong Park Connector.
Browse all Parc Oasis units for rent on PropertyGuru.
5. Whistler Grand: Luxury Condo in West Coast
This new luxury condo in West Coast Vale, which just received its TOP this year, is located a 19-minute walk from Clementi MRT station. Whistler Grand‘s location in the west makes it an attractive option to rent, especially for those who work at the Biopolis, one-north tech park, or the Pasir Panjang area.
The condo offers attractive views over the Pandan Reservoir and is located close to several institutions of higher education including Singapore Polytechnic and NUS.
Browse all Whistler Grand units for rent on PropertyGuru.
6. City Square Residences: In the Heart of Jalan Besar
Since receiving its TOP in 2009, City Square Residences has been a popular condo among both locals and expatriates looking for a place near the city centre. With 950 units in the development, there is no shortage of apartments for rent.
Located at Kitchener Link, the property is a six-minute walk from Farrer Park MRT station on the North East Line and a 10-minute walk from Jalan Besar MRT station on the Downtown Line. Residents enjoy excellent connectivity as well as the conveniences of living in a highly desirable city fringe location. They are also within walking distance of Bugis and Dhoby Gaut.
Popular local eateries including Swee Choon Tim Sum Restaurant, and Beach Road Scissor-Cut Curry Rice are a short walk away.
Browse all City Square Residences units for rent on PropertyGuru.
7. The Sail @ Marina Bay: Luxury Living in the CCR with Sweeping Views
Affluent expatriates who work in the city centre and want to rent a place with spectacular views of the CBD will find The Sail @ Marina Bay’s location ideal. The 2008 luxury condo development enjoys an unparalleled location and offers its residents excellent connectivity.
The Downtown MRT station is located a three-minute walk away, Raffles Place MRT station a seven-minute walk away, Telok Ayer MRT station an eight-minute walk away, and Bayfront and Marina Bay MRT stations both an 11-minute walk away.
Browse all The Sail @ Marina Bay units for rent on PropertyGuru.
8. Commonwealth Towers: Great City Fringe Location
Located just a two-minute walk from Queenstown MRT station on the city fringe, Commonwealth Towers is a fairly recent development which received its TOP in 2017. Consisting of 875 units, the development is situated on Commonwealth Avenue, which connects directly to the city centre via Alexandra Road.
Thanks to Commonwealth Towers’ city fringe location, those who work at Raffles Place in the CBD can reach their workplaces in under 20 minutes from door to door. Did we mention IKEA Alexandra is a three-minute drive away?
Browse all Commonwealth Towers units for rent on PropertyGuru.
9. d’Leedon: Quick Commute to Orchard
With 1,715 units, d’Leedon is a very large development with high availability of units for rent. Located in a highly sought-after neighbourhood close to the Singapore Botanic Gardens and Holland Village, residents are able to commute to Orchard Road in less than 20 minutes and the CBD in under half an hour via Dunearn Road.
The 2014 development enjoys an attractive city fringe address; residents are a seven-minute walk away from Farrer Road MRT station on the North East Line. Choice schools on the Bukit Timah belt are also easily accessible from the property.
Browse all d’Leedon units for rent on PropertyGuru.
10. Sophia Hills: Stone’s Throw from the Orchard Road Shopping Belt
Sophia Hills offers the possibility of living very near the Orchard Road shopping belt. Located a quick four-minute walk from Dhoby Ghaut MRT station, the 2018 development on Mount Sophia is located near schools such as LASALLE College of the Arts, School of the Arts, Nanyang Academy of Fine Arts and Singapore Management University.
Thanks to its location in the city centre, the CBD is just a stone’s throw away, and residents can even reach Raffles Place on foot in under 40 minutes.
Browse all Sophia Hills units for rent on PropertyGuru.
Which Condo for Rent in Singapore Should You Go For?
You’ll notice that most of these favoured properties for rent have excellent connectivity to public transport. Save for Whistler Grand, all properties are a 10-minute or less walk to an MRT station. These preferred developments also have many units and are relatively new.
Five of the condos are located in the RCR and three in the CCR. Both locals and returning expatriates seek out non-landed private properties in these areas due to their proximity to the city centre and the variety of F&B options and facilities available in these neighbourhoods.
Location, size and budget are key considerations when choosing a condo for rent in Singapore. If you work in the CBD and living in a central area is important to you, you can opt for a condo in the city core such as The Sail @ Marina Bay or Sophia Hills. However, be aware that city centre condos tend to be very expensive to rent.
To save a bit of cash, location-conscious renters can also opt for city fringe condos such as Stirling Residences, City Square Residences, Commonwealth Towers or d’Leedon.
For those on a budget or who work from home and do not need to commute regularly to the city centre, a suburban home will enable you to maximise space. Urban Vista, Parc Oasis or Whistler Grand might be suitable if you’d like to live in the Tanah Merah, Jurong East or West Coast areas respectively.
Need a home now? Browse all condos for rent on PropertyGuru.
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This article is written by Joanne Poh. Joanne writes about property and personal finance, and also creates content for banks and insurers. A former real estate lawyer, she now spends her free time compulsively learning languages and roller skating in carparks.
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