Both HDB and condo rentals saw stronger demand in April 2025, even though prices continued to inch upwards. So, while prices didn't spike as much as before, more people still entered the rental market.

This latest HDB condo rental April 2025 trend is something you'll want to keep an eye on — especially if you're making plans in the months ahead.

The lowdown on April's Condo and HDB rental numbers

In April 2025, both HDB and condo rental volumes picked up pace. On the private housing side, condo rentals increased slightly in price, and more leases were signed. Meanwhile, HDB rentals also continued their upward trend, with more flats being rented compared to March.

While rising prices might usually slow things down, that wasn't the case this time. Despite tighter household budgets, demand stayed firm. More tenants turned to HDB flats for practical reasons, while condo demand remained healthy in some regions.

Condo rental market sees stable demand with mild price growth

Across the board, condo rental prices increased by 0.1 per cent from the month before. But depending on the region, the changes varied a bit. In the Core Central Region (CCR), prices rose by 0.3 per cent. In the Outside Central Region (OCR), they went up by 0.5 per cent. Meanwhile, prices in the Rest of Central Region (RCR) stayed the same compared to March.

Looking at the bigger picture, condo rental prices in April 2025 were up by 2.5 per cent compared to the same time last year. Specifically, CCR prices rose by 1.6 per cent, RCR by two per cent, and OCR by 2.9 per cent year-on-year. So, if you've been renting or considering renting in these areas, you've probably felt the difference.

But it wasn't just prices that climbed. Condo rental volume also saw a month-on-month increase of 2.7 per cent. About 6,088 units were rented in April, up from 5,929 in March. That shows demand remains strong.

When you compare this to April 2024, the rental volume was 3.6 per cent higher. However, when stacked against the 5-year average for the month, volumes were 0.7 per cent lower — suggesting activity was strong, but still not at historic highs.

By region, OCR took the largest share of condo rentals at 34.1 per cent. RCR followed closely at 32.9 per cent, while CCR made up 33 per cent of the total. So no matter where you're looking, condo activity remained fairly balanced across Singapore.

HDB rentals grow faster in volume and price

Prices continued rising for HDB rentals too — by 0.3 per cent in April 2025 compared to March. Whether you're renting in a mature or non-mature estate, you saw an increase. Rentals in mature estates rose by 0.4 per cent, while those in non-mature estates went up by 0.2 per cent.

If you're targeting 3- or 4-room flats, you might have felt the pinch more than others. Prices for these room types rose by 0.3 per cent and 0.7 per cent, respectively. Interestingly, 5-room flat rentals remained stable, while Executive flats saw a price drop of 0.9 per cent.

Compared to April 2024, HDB rental prices were up by 2.9 per cent overall. Mature estate rentals increased by 3.5 per cent, while non-mature estates rose by 2.3 per cent. Every flat type saw year-on-year gains: 3-room flats by 4.1 per cent, 4-room by 2.5 per cent, 5-room by 2.1 per cent, and Executive flats by 2.4 per cent.

In terms of HDB rental volume, things picked up even more sharply than in the condo market. Volumes grew by 5.9 per cent from March to April, with 2,881 flats rented in April 2025 — up from 2,720 the month before.

However, when compared to the same period last year, rental volumes were 3.4 per cent lower. And they were also 7.8 per cent below the 5-year April average. So while more HDB flats are being rented month-on-month, the pace is still slower than in previous years.

As for the breakdown by flat type, 3-room flats made up 33.5 per cent of the volume. 4-room flats were the most popular at 36.8 per cent. 5-room flats followed at 24.3 per cent, and Executive flats made up only 5.4 per cent.

Why is demand still strong despite rising prices?

You might be wondering — why are volumes rising even though prices are going up too? Well, the overall HDB rental trend in Singapore shows a resilient market. More people are renting, even as prices inch up. The fundamentals remain steady, and both condo and HDB renters continue to stay active.

In the condo rental space, price increases have begun to level off. But you'll want to be more cautious when landlords list high asking rents. More tenants are now choosing to walk away rather than overpay, especially in the CCR. There's a growing awareness of value, and you may find that negotiating is becoming more common.

On the HDB rental side, demand is heating up — especially for 3- and 4-room flats in mature estates. These homes are often more affordable than condos and are located near transport and other amenities. If you're a tenant looking for value, these flats offer a solid balance between space and cost.

You're also not alone if you're looking to cut back on monthly rent. With inflation and uncertainty still affecting household budgets, many tenants are choosing HDB rentals over private condos. This explains why demand for public housing continues to rise, even if prices follow suit.

This article was first published in 99.co.