Leasing activity in Singapore’s private residential market held firm in the second quarter of 2026, with 22,290 rental contracts commencing during the quarter, excluding executive condominiums. The figure is up 5.1% on the 21,203 contracts in the first quarter and 3.0% higher than a year earlier, according to Savills, citing REALIS data and reported by Real Estate Asia.
One thing to be clear about at the outset: these are contract counts, not rents. The data measures how many leases began, not what tenants paid.
Savills said the quarterly increase was broad-based and led by the non-landed segment, where rental transactions rose 5.4% quarter on quarter to 21,193 contracts. All three market regions recorded higher volumes. The Core Central Region and the Rest of Central Region each rose 5.7%, to 6,258 and 7,238 contracts respectively, while the Outside Central Region rose 4.8% to 7,697.
On a year-on-year basis, non-landed leasing activity increased for a ninth consecutive quarter, up 3.2% from 20,537 contracts in the second quarter of 2025. Growth was led by the Outside Central Region at 6.0%, followed by the Rest of Central Region at 2.5% and the Core Central Region at 0.7% — the central districts are the slowest-growing part of an otherwise rising market.
Landed leasing moved in the opposite direction. Volumes edged up by five contracts, or 0.5%, quarter on quarter to 1,097, but remained 0.4% below a year earlier, marking a fifth consecutive quarter of year-on-year decline, though at a slower rate than before.
At project level, Treasure At Tampines was the most actively leased non-landed development in the quarter with 168 rental contracts. Normanton Park fell to second with 160 deals, down sharply from 265 in the previous quarter. Newly completed Tembusu Grand entered the top five for the first time at third with 154 transactions; Savills noted it received its Temporary Occupation Permit in December 2025 and has since recorded 218 leased units, equivalent to 34.2% of its 638-unit inventory. Marina One Residences and The Sail @ Marina Bay completed the top five with 144 and 143 contracts, both in the Marina Bay precinct of the Central Business District.
References
Real Estate Asia — Singapore private home leasing demand rises 5.1% in Q2 2026
