1. Serviced Apartments (Average Cost: $7,000 and above)
Some of us might opt to rent a serviced apartment because it provides facilities and personalized services.
Fully furnished serviced apartments in Singapore typically come with a gym and pool.
Many serviced apartments consist of units that range from 1-4 bedroom units.
Flexible lease terms can be negotiated on a daily, weekly or monthly basis.
Average monthly rental rates for single bedroom units depend on how luxurious the accommodation is, as well as the location.
Monthly rentals are often upwards of S$7,000.
2. Guest Rooms / Single Rooms (Average Cost: $500 – $1,110)
Renting a room (otherwise known as the common room) within a private apartment typically begins at a cost of S$800, with monthly rentals for rooms in government housing flats starting at S$500.
These costs are affected by the size of the room and location of the apartment. Common rooms do not come with a private toilet.
3. Landed Property (Average Cost: $5,500 – $35,000 and above)
Landed property refers to bungalows, detached houses, semi-detached houses and terraced homes.
Considering how relatively small Singapore is in terms of size and population, these types of properties can be very expensive to rent.
It is not surprising for tenants to pay as much as S$18,000 for a detached house within a prime location.
Luxurious bungalows can set people back S$35,000 each month while semi-detached and terraced houses are generally less expensive with starting rates of S$5,500 each month.
4. Entire HDB (Average Cost: $2,000 – $3,000)
Government housing is an option that can be considered by individuals on tight budgets.
Majority of our local population live in government housing flats, otherwise known as HDB.
These flats are usually close to essential facilities such as bus and train stations, shopping malls, libraries, clinics, markets, schools and banks.
There are no luxurious amenities such as gyms or swimming pools and rental costs are based on the size and location of the unit.
Rent ranges from S$2,000 to S$3000 for an entire 3-room HDB flat.
5. Private Apartment (Average Cost: $3,000 – $5,000)
Private apartments in the region are comparable to condos.
They provide more privacy and good security. However, they lack a majority of the facilities that are usually found in condos such as tennis courts and large pools.
They are also likely to be older buildings because condominiums tend to be new and privately constructed.
A 3-bedroom apartment can be rented for S$5,000 per month within the CBD.
6. Condominiums (Average Cost: $5,000 – $9,000)
Private condominiums are popular among expatriates because of facilities in comparison to landed properties.
These include security, playgrounds, tennis courts and swimming pools.
Rental prices for condominiums vary widely depending on the age and location of the building.
In prime areas situated close to the CBD, rent typically begins at approximately S$7,000 each month and can go higher depending on the proximity of the apartment to the CBD and how luxurious it is.
