When it comes to renting a private apartment in Singapore, studio apartments are often the sweet spot between convenience and affordability. Given their smaller size, studio apartments boast some of the lowest rental fees in the market, making them a game-changer when it comes to affordability.
Studio apartments offer singles the chance to live closer to the city centre, as well as the privacy of living alone without roommates or family members. If you’re a couple, a studio apartment can be a good-sized home too.
With dwindling rental supply and increasing demand, private property rental prices have surged in the past year. So if you’ve decided renting a studio in Singapore is a happy compromise, we’re here to help you find a suitable rental property.
Studio Apartments in Singapore: An Overview
| What are studio apartments? | They are typically 500 sq ft or less, comprising of a single room and a bathroom. |
| Who are they for? | Investors, and rental tenants, or individuals looking for cosy space. |
| How do studio rental prices differ? | The property’s proximity and connectivity (local transport) to the city centre, the relative age of the property, availability of recreational facilities, and the quality of fixtures, and furnishings |
Studio Apartments Singapore: Shoebox and Studio Apartment Trends
Data shows that studio apartments and shoebox units are getting increasingly popular among Singapore residents. Why?
The Average Household Size has Shrunk Since the 1980s
According to a Population Trends report from 2021, there has been a significant decrease in the average household size in Singapore from 4.87 persons in 1980 to 3.22 persons in 2020. This is due to lifestyle preferences (i.e. marrying later) and the rising cost of raising children. People need less space, so naturally, looking for a smaller unit makes sense.
Studio Apartments Are Great for Investors
On the investor front, shoebox apartments (defined as 50 sq m or smaller) have also outperformed larger condominium units on the property market.
A study conducted by Knight Frank found that those who have divested their shoebox apartments pocketed an average capital gain of 11.5% compared to the 10.6% average, which resale deals involving units of all sizes have gathered since their launch in 2010. Hence, over the last 10 years, private developers have ramped up the supply of studio units in response to higher investment demand for renting smaller apartments.
Related article: Just How Much Smaller Are New Condos and HDB Flats Getting?
All these have contributed to an increasing trend of renting studio apartments in Singapore. These one-bedders are commonly rented as fancy bachelorette pads for singles, and affordable homes for couples or expatriates who prefer to live with relatively good access to the Central Business District (CBD).
Don’t Fret the Space Constraint, There are Many Creative Ways to Maximise Room in Studio Apartments
Although the Urban Redevelopment Authority (URA) revised its guidelines in Oct 2018 to reduce the number of shoebox units in the new private condominiums, it is believed that small apartment sizes will only gain traction in the future.
After all, there are many simple yet fashionable ways to manage the space constraint, which is the main downside of shoebox apartments. Changing swinging doors for sliding doors, using multi-purpose furniture, home storage solutions, jack-and-jill bathrooms and opting for a colour distinction to distinguish sections within a home are some interior design hacks to create a sense of space and fresh-looking interiors in Singapore.
Studio Apartments Singapore: What Are Studio Apartments and Who Are They For?
A studio apartment is a shoebox condo unit of 500 sq ft or less. It usually houses everything in a single room with a separate bathroom.
It’s Typically Investors Who Buy Studio Apartments
Those who buy studio apartments are generally investors who lease them to tenants for a steady rental income. The purchase price may vary depending on the size of the unit, the location, the age of the development and facilities available within private condominiums.
Related article: Property Investment in Singapore: How to Get Started, Calculate Rental Yield and More
Hence, Studio Apartment Occupants are Usually Tenants
As mentioned, there are many studio apartments on the rental market. Studio apartments are a fabulous rental option for singles, but they may also be big enough to accommodate couples, co-sharing friends or small expatriate families on a tight rental budget. Cheaper utilities, low rent and proximity to commercial hubs, MRT stations and bus terminals are big plus points.
Related article: Rental Tenancy Agreement in Singapore: 5 Things You Must Know Before Signing the Deal
Studio Apartments Singapore: How Do Studio Apartment Rental Prices in Singapore Differ?
Singapore may be a pint-sized nation, but your lifestyle, wallet and commute to work each morning are governed by where you live.
Studio apartment rentals in Singapore depend on factors such as:
- The property’s proximity and connectivity (local transport) to the city centre
- The relative age of the property
- Availability of recreational facilities (such as swimming pool, gym, etc)
- The quality of fixtures (utilities), and
- Furnishings (furnished, semi-furnished) that come with the accommodation.
So, studio apartments located in and around the CBD, the country’s prime commercial, health and entertainment zone, are the most expensive. Areas such as Raffles Place, Tanjong Pagar, Marina Bay Sands, Orchard and River Valley are popular amongst working singles/couples and expatriates.
Related article: Condo Rental Prices in Singapore: How Much You Need to Earn to Afford Different Districts
The CBD is bordered by the city fringe, which offers access to the city centre in under 20 minutes via any mode of transport. The city fringe falls within the realm of high rents and includes Alexandra, Newton, Novena, Balestier, Beach Road and Braddell Road. Rents tend to drop the farther you go from the city’s centre. Hence, as you move further to the West, East, North and Southeast districts of Singapore, residential apartments become relatively bigger and more affordable.
Studio Apartments for Rent in Singapore: Price Estimates
Here’s a range of approximate rentals of studio apartments based on their location*:
|
Location |
Studio Apartment |
Approximate Rent |
|
Orchard (city core) |
The Scotts Tower / Devonshire 12 |
$3,000 to $5,500 |
|
Tanjong Pagar (city core) |
Lumiere / Icon |
$3,500 to $4,500 |
|
Raffles Place / Marina Bay (city core) |
V on Shenton / The Sail @ Marina Bay |
$3,000 to $3,400 |
|
Newton, Novena (city core/city fringe) |
Lincoln Suites / Soleil @ Sinaran |
$3,300 to $3,800 |
|
Tiong Bahru (city fringe) |
Highline Residences / Regency Suites |
$2,000 to $3,700 |
|
Farrer Park / Little India (city fringe) |
Uptown @ Farrer / Cavan Suites |
$2,600 to $3,100 |
|
Clementi (West) |
One-North Residences / Seahill |
$2,600 to $3,500 |
|
Paya Lebar / Eunos (East) |
Lotus @ Paya Lebar |
$2,630 to $4,450 |
|
Woodlands (North) |
Forestville |
$1,850 to $2,500 |
|
Pasir Ris (Southeast) |
Watercolours / Coco Palms |
$1,850 to $3,300 |
*Prices were taken from available listings on the PropertyGuru website as of 28 March 2022; subject to change as listings are added or removed).
Studio Apartments Singapore: Are There Studio Apartments for Rent under $2,000
The adventure of moving into your own place can fade fast if the rent drains your wallet. Rents have risen dramatically in 2021 and are at a 6-year high. With rental prices continuing to surge, it can be tricky to find an affordable place to stay.
At the moment, the most affordable studio apartment starts from $1,600. The going rate of most studio apartments hovers at around $2,000, with most of these condo studio units being situated in the East of Singapore.
To save you the trouble of finding a budget-friendly studio in the area of your choice, here’s a list of condo studio apartments in Singapore that cost under $2,000.
Cheap Studio Apartment For Rent in Singapore
|
Studio apartment |
Location |
Estimated monthly rental |
|
Urban Vista |
Bedok / Upper East Coast (East) |
From $1,600 |
|
LIV on Sophia |
Orchard / River Valley (city centre) |
From $1,700 |
|
Liv on Wilkie |
Orchard / River Valley (city centre) |
From $1,700 |
|
Moro Mansion |
Eunos / Geylang / Paya Lebar (city fringe) |
From $1,750 |
|
Kensington Square |
Boon Lay / Jurong/ Tuas (West) |
From $1,800 |
If $2,000 is out of your budget, you could consider co-living spaces, like The Assembly Place, where you have a private room but share common facilities (e.g. kitchen, laundry room). For those still keen on studio apartments, browse all studio apartments for rent on the PropertyGuru website.
Related article: To Rent A Room or Studio Apartment in Singapore: 5 Factors to Help You Decide
Cheap Studio Apartment for Rent: HDB Studio Apartments
Not many people know this, but HDB studio apartments also exist. However, unlike condo shoebox units, most people do not qualify to rent them.
Studio for Rent Singapore: What Are HDB Studio Apartments?
HDB studio apartments can only be rented to Singapore citizens under the Public Rental Scheme as a family (with no household income), as a couple, or as single individuals. There are extremely stringent income and financial background requirements you must meet in order to rent a studio apartment flat from HDB. This is different from renting a Parenthood Provisional Housing Scheme (PPHS) HDB rental flat.
This is because these are rental flats that are reserved for those in dire need with no other option. HDB studios are subsidised to cater to Singaporean households with a low monthly income not exceeding $1,500. The monthly rental rate charged also depends on the household’s income. A district-wise map of studio rental accommodations under this scheme can be found here.
If you do qualify, HDB studio apartments are an affordable housing option for low-income Singaporeans above the age of 21. However, getting hold of one is not easy! These studios come in the form of 1-room/ 2-room flats and are located islandwide, but you can only choose from the following 4 zones:
- Ang Mo Kio
- Bedok/ Tampines
- Bukit Merah/ Jurong
- Woodlands
The monthly rent that the HDB collects is calculated based on your monthly income and whether you are a first- or second-time applicant. You are a first-time applicant if you have neither bought an HDB flat (including resale flats bought using your CPF) nor received any other form of housing subsidy, such as SERS benefits. Otherwise, you are a second-time applicant.
Generally, if the eligibility is met, a one-room HDB flat can be obtained for rent. At the time of signing the tenancy agreement, a one-month rent deposit has to be paid.
HDB Studio Apartment for Rent: Rental Prices in 2022
The range of monthly rent that 1st-time and 2nd-time applicants pay for HDB studio apartments are as follows:
|
Monthly household income |
Applicant type |
Monthly rent for 1-room HDB studio |
Monthly rent for 2-room HDB studio |
|
$800 or less |
First-timer |
$26 to $33 |
$44 to $75 |
|
$800 or less |
Second-timer |
$90 to $123 |
$123 to $165 |
|
Between $801 and $1,500 |
First-timer |
$90 to $123 |
$123 to $165 |
|
Between $801 and $1,500 |
Second-timer |
$150 to $205 |
$205 to $275 |
On average, renting a studio apartment with a private condo in Singapore costs anywhere between $1,600 to $2,000 a month. So, even the most expensive rental price of $205 to $275 a month is subsidised by HDB to only a fraction of that amount.
FAQs on Studio Apartments in Singapore
What Is the Shortest Lease for Rental Property in Singapore?
The shortest possible lease is three months for private property like condos, and six months for HDB flats.
Can Foreigners Rent Apartments in Singapore?
Yes, foreigners are free to rent apartments in Singapore.
Where to Find Apartments for Rent in Singapore?
PropertyGuru has one of Singapore’s largest databases of rental property listings.
For more property news, content and resources, check out PropertyGuru’s guides section.
Looking for a new rental home? Head to PropertyGuru to browse the top properties for rent in Singapore.
Need help financing your latest property purchase? Let the Home Finance Advisors at PropertyGuru Finance help you find the best deals.
This article was originally written by Manasi Hukku and was updated by the PropertyGuru team. Manasi likes to cover the intersection between research and relevance to help readers find a place they’ll love. She is a UX Conversation Designer, Medium Columnist and mother of two.
