🏡📉 Singapore condo rents are still high, but tenants are starting to regain negotiating power.

The condo rental index is around 152.3, which means rents remain roughly 52% above the 2019 base level.

But beneath that headline, the rental market is becoming much more competitive.

Why does this matter to landlords and investors?

📉 Rents have eased from their previous peak
🏢 Vacancy has moved above 6% as more completed units enter the market
🏗 New supply in areas such as Lentor and Tampines North can create localised rental competition
💰 Tenants now have more alternatives when comparing similar units
📊 Rental performance is increasingly dependent on the specific project, unit and asking rent

For landlords, this changes the strategy.

When several similar units become available in the same development, tenants can compare floor, facing, furnishing and rental asking price almost immediately.

Holding out for another $100 or $200 per month may not always make financial sense if it results in several additional weeks of vacancy.

For investors, the important question isn't simply:

"What rental can this condo achieve?"

It is:

"What will my net rental return look like after vacancy, maintenance fees, property tax and financing costs?"

That distinction becomes increasingly important when the rental market is no longer rising across the board.

For tenants, this is also a very different environment from the rental surge of a few years ago.

More supply means more choice, and in developments with multiple competing listings, there may be greater room to negotiate.

🔗https://propertynet.sg/condo-rental-market-2026-index-152-3-down-17-7-lentor-tampines-north-vacancy/

📌 A softer rental market doesn't mean rental demand has disappeared. It means pricing power is becoming more balanced.

For landlords, keeping a good tenant and minimising vacancy may now matter more than chasing the highest possible monthly rent.

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