Singapore falls to 8th most expensive place in Asia to rent mid-market homes

Keshia Faculin17 Jan 2018

Singapore residential area

Singapore has continued to slip down the list of the most expensive location for rental accommodation in Asia as it settled in the eighth place, down one notch from last year, revealed a survey by ECA International.

Notably, the city-state was ranked fourth in 2016.

Lee Quane, ECA International’s regional director for Asia, attributed the drop in ranking to a “slowing of economic growth and a net reduction in inbound assignments, exacerbating the surplus of higher-end properties on the market that would normally attract expatriates”.

He noted that this oversupply has reduced average rent levels in Singapore for the last three years.

Meanwhile, Hong Kong has once again emerged as the most expensive location in Asia for mid-market home rental.

The survey revealed that rental prices for an “unfurnished, mid-market, three-bedroom apartment in areas commonly inhabited by international executives in Hong Kong averaged at  US$10,461 per month”.

Tokyo came in second, followed by Shanghai, Seoul, Mumbai, Beijing and Yokohama, rounding up the top ten list with Osaka and Metro Manila.


This article was edited by Keshia Faculin.


You may also like these articles

This week in Ask Guru: Rental questions

This week, in Ask Guru, we answer questions about rentals: Tenants who can't pay, utilities for a dual key unit, and being asked to pay commissions as a tenant. Question 1: "Hi Gurus. I have a p

Continue Reading24 Nov 2016

HDB rental flat rates depend on household status

 The monthly cost of flats under the Public Rental Scheme of the Housing and Development Board (HDB) is subsidised to provide affordable shelter to Singaporean households who need them the most,

Continue Reading4 Jul 2017

Illegal short-term rentals on the rise, neighbours encouraged to report suspicious activity

View of high-end private apartments in the Orchard Road area.UPDATED: More private property owners in Singapore are renting out their units for illegal short-term stays via apps such as Airbnb.Accordi

Continue Reading2 Aug 2017