Q3 2026 Private Rents and Vacancy: Rents Up 1.3%, Vacancy Up to 7.2%
URA's Q3 2026 data shows private home rents rising 1.3% while vacancy climbs to 7.2% and rental contracts hit a record. What landlords, tenants and investors should do.
Data snapshot: URA 3rd Quarter 2026 real estate statistics, released 23 October 2026. Last reviewed: 25 Oct 2026.
Singapore's private home rental market sent two signals at once in Q3 2026. Rents rose 1.3% quarter on quarter, the fastest quarterly gain since Q2 2023. But the vacancy rate on completed private homes also jumped to 7.2% from 6.4%, as a burst of new completions came onto the market.
Rents and vacancy usually move in opposite directions. Both rising together points to unusually strong tenant demand meeting unusually large new supply, which matters if you own a condo, plan to rent one out, or are deciding whether to rent or buy.
This guide sets out what the URA's third-quarter numbers say, why both measures rose, and how landlords, tenants and investors can use them without overreading a single quarter.
Q3 2026 private rental market: key numbers
| Measure | Q3 2026 | Comparison |
|---|---|---|
| Private rental index | +1.3% QoQ | +0.7% in Q2 2026; fastest since Q2 2023 (+2.8%) |
| Non-landed rents | +1.2% QoQ | +0.4% in Q2 2026 |
| Landed rents | +2.1% QoQ | +2.7% in Q2 2026 |
| Rental contracts (excluding ECs) | 28,423 | 22,635 in Q2 2026 (+25.6%); highest quarterly total since records began in 1995 |
| Vacancy rate (completed private homes, excluding ECs) | 7.2% | 6.4% at end of Q2 2026 |
| Occupancy | 92.8% | The other side of the vacancy rate |
| Net increase in completed stock | 3,491 units | The main driver of higher vacancy |
| Developer new-home sales (excluding ECs) | 1,183 units | 2,141 in Q2 2026 |
Sources: URA, Release of 3rd Quarter 2026 real estate statistics, with the rental index and contract breakdowns as reported by 99.co and EdgeProp.
Vacancy by region
| Region | Q3 2026 vacancy | Q2 2026 vacancy |
|---|---|---|
| Core Central Region (CCR) | 8.4% | 8.3% |
| Rest of Central Region (RCR) | 7.4% | 6.1% |
| Outside Central Region (OCR) | 6.5% | 5.6% |
| Overall | 7.2% | 6.4% |
The suburbs saw the sharpest jump. Vacancy in the OCR rose 0.9 percentage point and in the RCR 1.3 points, while the CCR was nearly unchanged but still the highest. The pattern fits new-completion timing: industry coverage of the URA data puts Q3 completions at about 3,559 homes, the most since Q4 2023.
Why rents and vacancy both rose
Our reading of the data, which URA does not state as a cause:
- Record tenant demand. 28,423 new rental contracts in a quarter is a record in a series that goes back to 1995. Tenants are still coming forward in large numbers.
- A completions wave. Thousands of newly completed units, many still unoccupied, push the headline vacancy rate up even when overall demand is strong. Not every vacant unit is available to rent. URA's measure covers completed units that are not occupied, which includes units still being sold or fitted out.
- Quality and location matter more. Landed and well-located non-landed homes saw rents rise, but a higher vacancy rate means weaker, older or poorly located units face more competition for each tenant.
- Slower sales. Developers sold 1,183 homes in Q3, down from 2,141 in Q2. Slower purchase activity may keep some would-be buyers renting for longer, though the data does not show this directly.
One quarter does not make a trend. Rents rose faster than in Q2, but vacancy has now risen two quarters in a row (from 6.2% at the end of Q1 to 6.4% at Q2 and 7.2% at Q3, per URA's quarterly releases). If rising supply keeps outpacing demand, rent growth could slow in coming quarters.
What this means for landlords
- Price against current listings, not last year's rent. The rental index is an average. Your unit competes with the specific listings in your project and neighbouring ones. Check what has actually leased, not just asking prices.
- Expect more competition if you own in the suburbs. Vacancy in the OCR rose the most. If new completions are nearby, expect tenants to compare more units before deciding.
- A short gap costs more than a small discount. One empty month on a lease can cost more than a modest rent concession. Weigh a slightly lower rent against the risk of a long vacancy.
- Keep the unit in good order. In a market with more supply, well-maintained, move-in-ready units lease faster. See our guide to renting out a condo without an agent.
- Know your tax position. Rental income is taxable, and deductible expenses matter. See rental income tax for Singapore landlords.
- Plan the lease terms. A clear lease, with termination and notice terms spelled out, saves disputes. See early termination, costs and notice disputes.
What this means for tenants
- Rents are rising, but supply is also rising. The 1.3% average increase does not mean every landlord can raise rent. In projects with many vacant or newly completed units, tenants may still be able to negotiate on rent, furnishing or lease length.
- Compare several listings. With vacancy at 7.2%, you have more choice than the headline rent trend suggests.
- Do not wait indefinitely. If you are planning to move, remember that rents moved up for the second quarter in a row and demand is strong.
What this means for buyers and investors
- Do not assume yield from a single rent figure. A higher index does not guarantee your target unit will lease quickly or at the asking rent. Work from comparable recent leases.
- Check the supply around the project. Vacancy and new completions near your unit decide how hard it will be to find a tenant. Our Q1 2026 vacancy guide explains which condo segments are more exposed.
- Stress-test the numbers. Run a lower rent and a vacant month or two through the rental yield calculator before you commit.
- Buying a tenanted unit? Use the tenanted condo checklist to check the lease, the rent and the exit.
- Remember prices are also rising. URA's private price index rose 1.4% in Q3 on the flash estimate, to a record. See our Q2 2026 private home prices guide for the prior quarter. Rising prices with only modest rent growth means yields can still be squeezed.
What to watch next
- Q4 2026 vacancy. If vacancy rises again, rent growth may cool. If it stabilises while contracts stay high, demand is absorbing supply.
- Completions pipeline. URA publishes the expected supply of private homes each quarter. Check how many units are due in your area over the next 12 to 24 months.
- HDB resale and rental flows. Our Q3 2026 HDB resale price trends show buyers are active in the HDB market too, and some demand may shift between rental and purchase.
Limitations of this data
- Index figures are averages. They do not describe your unit, project or street.
- Vacancy is not the same as available supply. It counts completed units that are not occupied.
- Figures can be revised. The numbers here are from URA's 23 October release as reported in industry coverage. Check URA's data for the final published tables before quoting them.
- This is not rental advice. A rent for a specific unit depends on its condition, floor, layout and landlord terms.
Frequently asked questions
How much did Singapore private home rents rise in Q3 2026?
URA's rental index for private residential property rose 1.3% quarter on quarter, after a 0.7% rise in Q2 2026. It was the fastest quarterly gain since Q2 2023.
What is the vacancy rate for private homes in Singapore in Q3 2026?
7.2% for completed private homes excluding ECs, up from 6.4% at the end of Q2 2026. Occupancy was 92.8%.
Why did vacancy rise while rents also rose?
Completed stock grew by 3,491 units, which pushed up the vacancy rate, while a record 28,423 rental contracts were recorded in the quarter, which pushed up rents. In other words, demand and supply both grew.
Which region had the highest vacancy?
The Core Central Region at 8.4%, followed by the Rest of Central Region at 7.4% and the Outside Central Region at 6.5%. The OCR and RCR rose the most from Q2.
Are landed or condo rents rising faster?
Landed rents rose 2.1% and non-landed rents rose 1.2% in Q3, according to industry coverage of the URA data. Landed rent growth slowed from Q2 (2.7%), while non-landed growth sped up (from 0.4%).
Should I raise my rent?
Check what comparable units in your project actually leased for in recent weeks. A rising index does not mean every lease can be renewed at a higher rent, particularly where vacancy is high.
Is it a good time to buy a condo to rent out?
It depends on the unit, the price, the supply nearby and your holding costs. Rents are rising, but so are prices and supply. Run the numbers on a conservative rent and a vacancy period before committing.
