Record July leasing pushed condo rents to a new high

Singapore’s condo rental market just had its busiest month ever. An estimated 9,627 units were leased in July 2026, almost 2,700 more than in June, and rents climbed to a record of their own. Whether you are renewing a lease, hunting for a unit or renting one out, the mid-year lull is over.

What the numbers say

SRX Property’s July rental flash data puts estimated condo leasing at 9,627 units, up 38.1% from June’s 6,973 and the highest monthly volume ever recorded. Against July last year, volume rose 10.6%. It also sits 19.5% above the average July of the past five years, so this was more than the usual mid-year seasonal bump.

July’s leasing volume was the highest ever recorded, 38.1% above June. Source: SRX Property, July 2026 rental flash data.

Rents moved too. The overall condo rental index rose 1.6% in a single month, from 145.0 to 147.3, an all-time high. On a $4,500-a-month unit, that is roughly $70 more. Compared with July 2025, rents are up 2.5%.

Some of the surge is timing. Leasing regularly picks up after the mid-year school holidays, when families and new arrivals sign tenancies ahead of the new school term. But June was itself a strong month, with volume up 19% on May, so July’s record came on top of a market that was already moving.

The suburbs are setting the pace

Every region got more expensive in July. The Outside Central Region, home to most mass-market condos, led with a 2.2% monthly rise. The city-fringe Rest of Central Region gained 1.1% and the prime Core Central Region 0.8%.

Rents rose in every region in July, with the suburbs climbing fastest. Source: SRX Property, July 2026 rental flash data.

The suburbs also did the most business, taking 39.2% of July’s rental volume against 33.2% for the city fringe and 27.7% for the prime core. Rental contract data shows Normanton Park in District 5 was the single most-rented project for leases starting in July, with 132 rental deals, while nearby Parc Riviera logged 115. Big, recently completed projects with hundreds of units coming up for renewal at once tend to dominate these tables, and both fit that profile.

A record with calm underneath it

A record month sounds like a landlord’s market, and for July it was. Keep the price side in proportion, though. Rents are 2.5% higher than a year ago, which is a fraction of the double-digit annual jumps renters suffered through in 2022 and 2023. Volume is growing far faster than rents, which usually means the supply of available units is deep enough to absorb demand without triggering a bidding war.

That balance is worth watching over the next few months. If leasing stays elevated while completions slow, rent growth could firm up further. For now, the market is busy rather than squeezed.

What this means for you

• Renewing a lease? Your landlord has seen the same headlines. A record month strengthens their hand, but with rents only 2.5% above last year, an aggressive increase is still worth pushing back on with recent transactions from your own project.
• Hunting for a unit, especially in the suburbs? Expect competition for well-priced listings and be ready to commit quickly. The prime core is the slowest-moving end of the market and the likeliest place to find a negotiable landlord.
• Leasing out a unit? This is the deepest pool of tenants the market has ever recorded. Price realistically and your vacancy should be short: an empty month costs you more than a small discount.
• Weighing rent against buy? Rents at a record high shift the maths a little toward buying, but 2.5% annual growth is manageable. Decide on your own numbers and timeline rather than on one strong month.