Rental demand for residential homes has been strong over the past two years in Singapore due to a number of factors, such as the existing border control measures due to COVID-19 and delayed construction for HDB Built-to-Order (BTO) flats, to name a few.
The article lists the most expensive and cheapest HDB towns to rent in Singapore and, by doing so, serves as a reference guide for prospective tenants and landlords to gauge their expectations and market rate for rent in these HDB towns.
Read Also: Complete Cost Guide To Renting An HDB Flat In Singapore
The figures used in this article are based on Q4 2021 HDB Rental transactions and the median rents by each town and flat types.
HDB Rental Prices
| Town | 3-Room | 4-Room | 5-Room | Executive |
| Ang Mo Kio | $1,900 | $2,300 | $2,600 | * |
| Bedok | $1,900 | $2,250 | $2,480 | * |
| Bishan | $2,100 | $2,400 | $2,650 | * |
| Bukit Batok | $1,800 | $2,100 | $2,250 | * |
| Bukti Merah | $2,000 | $2,670 | $3,000 | – |
| Bukit Panjang | $1,600 | $2,000 | $2,200 | $2,100 |
| Bukit Timah | * | * | * | * |
| Central | $2,300 | $2,800 | * | – |
| Choa Chu Kang | * | $2,000 | $2,100 | $2,300 |
| Clementi | $2,000 | $2,550 | $2,600 | * |
| Geylang | $1,900 | $2,400 | $2,600 | * |
| Hougang | $1,800 | $2,150 | $2,250 | $2,500 |
| Jurong East | $1,800 | $2,200 | $2,400 | * |
| Jurong West | $1,800 | $2,200 | $2,300 | $2,400 |
| Kallang / Whampoa | $2,000 | $2,550 | $2,800 | * |
| Marina Parade | $2,000 | $2,480 | * | – |
| Pasir Ris | * | $2,100 | $2,200 | $2,300 |
| Punggol | * | $2,100 | $2,100 | * |
| Queenstown | $2,100 | $2,730 | $3,000 | – |
| Sembawang | * | $2,000 | $2,050 | $2,300 |
| Sengkang | $1,830 | $2,100 | $2,200 | $2,250 |
| Serangoon | $1,900 | $2,300 | $2,500 | $2,680 |
| Tampines | $1,850 | $2,200 | $2,400 | $2,500 |
| Toa Payoh | $2,000 | $2,500 | $2,600 | * |
| Woodlands | $1,800 | $2,000 | $2,100 | $2,300 |
| Yishun | $1,800 | $2,000 | $2,200 | $2,450 |
| Average Rent | $1,913 | $2,283 | $2,417 | $2,371 |
Median HDB Rent based on HDB rental approvals in 4Q2021. Source: HDB
“-“ indicates there were no transactions recorded in the quarter, while “*” indicates there were less than 20 transactions recorded in the quarter.
Note: this guide is based on the median HDB rent prices for the final quarter of 2021 which we can expect to form the basis of prices for 2022. These rents are for the entire HDB flat. Individual room rents will differ from the entire flat rates. 1-room and 2-room HDB flats are excluded due to the lack of transaction data from HDB.
Most Expensive Towns To Rent A HDB Flat
Let us compare the rent prices of 3-room, 4-room, 5-room and Executive HDB flats to find the top-3 most expensive towns.
Read Also: HDB Price Guide: Most Expensive HDB Estates In 2021
First, let’s look at the top 3 most expensive towns to rent a 3-room HDB flat:
3-Room Flat Rentals
| Town | Median Rent |
| Central | $2,300 |
| Bishan | $2,100 |
| Queenstown | $2,100 |
Unsurprisingly, the top 3 most expensive locations for 3-room rentals look similar to our article on housing estates with million-dollar HDB flats. Flats located in mature towns such as Central, Bishan and Queenstown are highly sought-after for their close proximity to the Central Business District, well-established schools and amenities.
Rents at these locations have ranged from $2,100 to $2,300, which is a premium of around 8.9%– 16.8% over the average rent for a 3-room in Singapore.
Based on 4Q2021 statistics, rents for Bishan rose the most, by 10.5% compared to the previous quarter. Rents in Central and Queenstown town rose moderately by 3% and 5%, respectively.
Note: Bukit Timah, Choa Chu Kang, Pasir Ris, Punggol, and Sembawang rent prices were excluded due to lack of transaction records.
Second, let’s look at the top 3 most expensive towns to rent a 4-room HDB flat:
4-Room Flat Rental
| Town | Median Rent |
| Central | $2,800 |
| Queenstown | $2,730 |
| Bukit Merah | $2,670 |
The top 3 locations that lead the pack for 4-room HDB flats in terms of rents are Central, Queenstown and Bukit Merah. The rents range from $2,670 to $2,800, which is a premium of around 14.5% to 18.5% over the average 4-room rents.
Amongst these three towns, Bukit Merah saw an increase in rents of about 2.6% compared to the last quarter, while rents in Queenstown saw a decline of 0.7%. There was no change in rents in Central for the past two quarters.
Note: Bukit Timah rent prices were excluded due to lack of transaction records.
Third, let’s look at the top 3 most expensive towns to rent a 5-room HDB flat:
5-Room Flat Rentals
| Town | Median Rent |
| Bukit Merah | $3,000 |
| Queenstown | $3,000 |
| Kallang / Whampoa | $2,800 |
Bukit Merah and Queenstown are joint leaders, with rents in these two towns averaging around $3,000. The third most expensive town goes to Kallang/Whampoa at $2,800.
Compared to the average 5-room rent, the premium in these towns ranges between 14% and 19%.
Readers of our past 2021 HDB Rental Guide may have noticed the surprise addition to this year’s list. Kallang/Whampoa town pipped Geylang, as its median rent rose by about 7.7% from last quarter. Bukit Merah is the other town that also saw a slight increase of about 3.4% in its median rent over the last quarter.
Note: Bukit Timah, Central, and Marine Parade rent prices were excluded due to lack of transaction records.
Lastly, let’s look at the top 3 most expensive towns to rent an Executive HDB flat:
Executive Flat Rentals
| Town | Median Rent |
| Serangoon | $2,680 |
| Hougang | $2,500 |
| Sengkang | $2,500 |
The top 3 most expensive towns to rent an Executive flat are Serangoon, Hougang and Sengkang. Rents in these locations range from $2,500 to $2,680, which is a premium of around 5% to 11.5% over the average rent for executive flats.
The most expensive town in 3Q2021, Bedok with a median rent of $2,700, is omitted from this list due insufficient transaction records in 4Q2021. Rents in the top 3 most expensive locations for executive flats have generally commanded a lower premium compared to the 3-room and 4-room flats as the bigger sized executive flats are normally built outside of the Rest of the Central Region (RCR) unlike the smaller-sized flats.
Compared to the 3Q2021 statistics, the median rent at Hougang and Sengkang has increased by 7.3% and 12%, respectively. This shows a strong rental demand for the bigger-sized flats in these towns.
Note: Ang Mo Kio, Bedok, Bishan, Bukit Batok, Bukit Merah, Bukit Timah, Central, Clementi, Geylang, Jurong East, Kallang/Whampoa, Marine Parade, Punggol, Queenstown, and Toa Payoh rent prices were excluded due to lack of transaction records.
Cheapest Estates To Rent A HDB Flat
Now, let us compare the rent prices of 3-room, 4-room, 5-room and Executive HDB flats to find the top 3 most affordable towns.
Read Also: HDB Price Guide: 5 Cheapest HDB Estates For 2022
Here are the top 3 cheapest towns to rent a 3-room flat:
3-Room Flat Rentals
| Town | Median Rent |
| Bukit Panjang | $1,600 |
| Bukit Batok | $1,800 |
| Hougang | $1,800 |
| Jurong East | $1,800 |
| Jurong West | $1,800 |
| Woodlands | $1,800 |
| Yishun | $1,800 |
Based on 4Q2021 statistics, the cheapest town to rent a 3-room HDB flat is Bukit Panjang at $1,600. The second cheapest price comes in at $1,800 and is co-held by six other towns – Bukit Batok, Hougang, Jurong East, Jurong West, Woodlands and Yishun.
Compared to the average rent for a 3-room flat at $1,913, the median rent in these towns is cheaper by 6% to 20%.
Amongst these locations, Woodlands saw the biggest climb in rents from 3Q2021, by around 9%.
Note: Bukit Timah, Choa Chu Kang, Pasir Ris, Punggol, and Sembawang rent prices were excluded due to lack of transaction records.
Here are the top 3 cheapest towns to rent a 4-room flat:
4-Room Flat Rentals
| Town | Median Rent |
| Bukit Panjang | $2,000 |
| Choa Chu Kang | $2,000 |
| Sembawang | $2,000 |
| Woodlands | $2,000 |
| Yishun | $2,000 |
Based on 4Q2021 statistics, the rental floor price for a 4-room is $2,000. The five towns making up the list for the cheapest rent for a 4-room are Bukit Panjang, Choa Chu Kang, Sembawang, Woodlands and Yishun.
Compared to the average rent for a 4-room, which stands at $2,283 in Singapore, the rent at these locations is cheaper by 14%.
Note: Bukit Timah rent prices were excluded due to lack of transaction records.
Here are the top 3 cheapest towns to rent a 5-room flat:
5-Room Flat Rentals
| Town | Median Rent |
| Sembawang | $2,050 |
| Choa Chu Kang | $2,100 |
| Punggol | $2,100 |
| Woodlands | $2,100 |
By now, readers will be familiar with the towns that typically make up the lower spectrum of HDB rents in Singapore. Sembawang is the cheapest town to rent a 5-room flat in Singapore at $2,050, followed by the other towns, Choa Chu Kang, Punggol and Woodlands at $2,100.
The rents in these towns are cheaper by 15% to 18% compared to the average rents for 5-rooms in Singapore.
Note: Bukit Timah, Central, and Marine Parade rent prices were excluded due to lack of transaction records.
Here are the top 2 cheapest towns to rent an executive flat:
Executive Flat Rentals
| Town | Median Rent |
| Bukit Panjang | $2,100 |
| Sengkang | $2,250 |
The HDB rental statistics for executive flats in Q42021 are fewer than the other types of flats. Therefore, we shall limit our list to the top 2 cheapest towns which are significantly cheaper than the average. They are Bukit Panjang at $2,100 and Sengkang at $2,250.
The median rent in the top two towns is 5 to 13% cheaper than the average rent of $2,371 recorded across the other towns in Singapore. Choa Chu Kang, Pasir Ris, Sembawang and Woodlands round off the 3rd place at $2,300, relatively close to the average rent.
An interesting point to note is that the discount in the median rent in the cheapest towns compared to the average rent is the smallest in the executive types of flats. This can be attributed to the relative scarcity and general location of such flats, which makes the rent more stable across all the HDB towns in Singapore.
Note: Ang Mo Kio, Bedok, Bishan, Bukit Batok, Bukit Merah, Bukit Timah, Central, Clementi, Geylang, Jurong East, Kallang/Whampoa, Marine Parade, Punggol, Queenstown, and Toa Payoh rent prices were excluded due to lack of transaction records.
Location Commands A Bigger Premium Than Size
Based on the Q42021 HDB Rental statistics, we observed that the rents in mature locations such as Central, Queenstown and Bukit Merah for the smaller HDB flat types can command a higher premium than the bigger-sized executive flats, largely due to the difference in location.
These mature towns offer convenience and easy accessibility to the Central Business District and other employment nodes, making it an attractive proposition for tenants who wish to live near their workplace. However, this convenience comes at a premium, ranging between 8.9% to 19% compared to the average rent for the 3-room to 5-room flat types.
Executive flats can be considered the most value-for-money flat types to rent in Singapore as they offer more space and cost less to rent than the average 5-room or 4-rooms in the more expensive towns.
Moreover, choosing to rent in a suburban location or a non-mature town can lead to a difference of about $580 to $950 in median rent, depending on the flat type. Therefore, location still matters.
Cover image: Moo Kar Ming, DollarsAndSense
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