Inflation & Prices
Soaring Singapore Rents Set to Climb Another 10-15% This Year
- Economic recovery and resilient employment to drive increase
- Prices to moderate from record high on boost in private homes
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A breakneck surge in residential rents hammered Singapore’s tenants with increases of about 21% in the first nine months of 2022 — and the pain looks set to continue this year.
Despite slowing, Bloomberg Intelligence analysts predict rents are set to rise another 10-15% in 2023, driven by the country’s continued economic recovery, as well as resilient employment and household income.