According to the Singapore Property Market Report Q2 2023, rental prices for private homes increased 3.1% quarter-on-quarter (QoQ) compared to Q1 2023. However, this was smaller than the 7.1% increase in rental prices observed in Q4 2022.
Signs that tenants are resisting the price hikes are evident. The moves towards restoring supply and the increasing number of rental listings have provided would-be renters with more rental options.
While demand remains robust, there is easing demand as the available tenant pool is dwindling due to more expats returning home and more locals moving into their newly-completed properties.
That said, here are the 10 most popular condos for rent in Q1 2023.
Top 10 Most Popular Condos for Rent in Q1 2023
1. JadeScape: A Mega Development Beside Marymount MRT Station
TOP-ed in 2023, JadeScape is the newest property darling among renters. This mega development boasts 1,206 units and sits on a giant plot of land in Upper Thomson.
Its location means that tenants will be close to the lively Upper Thomson stretch of cafes, and choice schools that include Ai Tong Primary School and Raffles Institution. Close to the picturesque MacRitchie Reservoir, you’ll have no excuses to skip your daily dose of cardio.
Its accessibility to public transport is also high: JadeScape is beside Marymount MRT station on the Circle Line. It is also less than 10 minutes away from Upper Thomson MRT station, which links to Woodlands, the city, and the CBD on the Thomson-East Coast Line (TEL).
JadeScape has swept accolades at the PropertyGuru Asia Property Awards:
- Best Sales Gallery Architectural Design (Singapore) 2020
- Best Mega Scale Condo Architectural Design (Singapore) 2019
- Best Mega Scale Condo Landscape Architectural Design (Singapore) 2019
- Best Smart Building Development (Singapore) 2019
- Best Mega Scale Condo Development (Singapore) 2019, highly commended
Browse all JadeScape units for rent on PropertyGuru.
2. Sophia Hills: A Hidden Haven in the Heart of Dhoby Ghaut
Completed in 2018, Sophia Hills sits on the higher ground of the same name behind Dhoby Ghaut MRT station, about a four-minute walk away. This means that tenants are close to town and its amenities, yet also tucked away from the hustle of being Singaporean in their serene abode.
From Dhoby Ghaut, it’s incredibly convenient to get to popular areas that include Orchard Road, Somerset, the CBD, Bugis, and travel further to the rest of Singapore via the North-East Line, North-South Line, and Circle Line.
Families staying in Sophia Hills have a wealth of choice schools to send their children to: the LASALLE College of the Arts (LASALLE), School of the Arts (SOTA), Nanyang Academy of Fine Arts (NAFA), and Singapore Management University (SMU).
The charming development also has three fully-restored conserved buildings that it uses as a restaurant, childcare centre, and clubhouse.
Browse all Sophia Hills units for rent on PropertyGuru.
3. City Square Residences: Freehold Gem in Little India
Even though it TOP-ed over a decade ago in 2009, the freehold City Square Residences continues to be a popular condo for rent. With 910 units over 30 storeys, this condo by City Development Limited has rental units starting from $700/month.
The project is just a six-minute walk from Farrer Park MRT station on the North-East Line and 10 minutes from Jalan Besar MRT station on the Downtown Line. It is also close to CBD, town, and Little India, which features the 24-hour Mustafa Centre, City Square Mall, and Farrer Park Hospital.
If you’re in the mood for good food, there’s also lots to choose from. From authentic Indian eateries to trendy cafes in the Jalan Besar area, there are also other popular local eateries such as supper spot Swee Choon Tim Sum Restaurant and the messy-but-delicious Beach Road Scissor-Cut Curry Rice within reach.
Browse all City Square Residences units for rent on PropertyGuru.
4. The Sail @ Marina Bay: Living Along Singapore’s Skyline
The Sail @ Marina Bay was completed in 2008. Since then, has been an iconic part of the Singapore skyline. The impressive project by City Development Ltd has 1,111 units across 69 storeys and boasts unparalleled views of our island nation.
This is an excellent rental for those who not only love living the high life but who work in the financial district at District 1. There are even direct underground passages to Downtown and Raffles Place MRT stations to avoid the elements and humidity for a comfortable journey to town.
With its superb location, a daily trip to Marina Bay Sands (MBS) for a spot of luxury shopping, award-winning restaurants, and the best performances showcased. Don’t forget the countless bayside events, light, and water shows, fireworks from your window and art installations, as well as satay at Lau Pa Sat in this prime destination.
Browse all The Sail @ Marina Bay units for rent on PropertyGuru.
5. Sims Urban Oasis: City Fringe Living With Good Food Nearby
Developed by Sims Urban Oasis Pte. Ltd., Sims Urban Oasis was completed in 2017. This 99-year leasehold mixed luxury development in District 14 has 1,024 units that share generous facilities that include no fewer than four swimming pools (including one on the sky terrace), seven convenience shops, and a childcare centre on the commercial side.
Sitting on the city fringe at the Aljunied and Geylang districts, tenants can reach Aljunied MRT station on the East-West Line by foot in just six minutes. From there, it is just a quick train ride into the Central Business District in five stops to Raffles Place MRT station or one stop from the Paya Lebar business district. Even travelling to Changi Business Park and the airport are short trips away. Foodies will also be happy to fill their stomachs with delights from Geylang and the nearby Katong.
Browse all Sims Urban Oasis units for rent on PropertyGuru.
6. The Tre Ver: Green Living With A Riverfront View
Designed with green in mind, The Tre Ver just received its TOP in 2023. This new kid on the block has quickly made it to the top 10 popular condos for rent list in Q1 2023 thanks to its accessibility to the city, at Potong Pasir Avenue 1 in District 13.
Its name is a combination of tree and river (pronounced “tree-ver” not “trevor”), The Tre Ver’s garden blocks showcase views of the pool, the Kallang River, Woodleigh Park, and the upcoming Bidadari Estate. It also boasts 220m of riverfront and 12 conserved rainforest trees.
This 99-year leasehold condo is developed by United Venture Development (UVD Projects) Pte Ltd, and has 729 units over 19- and 20-storey blocks. Potong Pasir and Woodleigh MRT stations are accessible by foot, and nearby schools include Pei Chun Public School and St Andrew’s Junior School.
Browse all The Tre Ver units for rent on PropertyGuru.
7. Gem Residences: Full of Nearby Amenities, and an On-site Concierge Service
Located in the mature estate of Toa Payoh, in the Rest of Central Region, leasehold condo Gem Residences has 578 units and is within walking distance to Braddell and Toa Payoh MRT stations on the North-South Line. From there, it’s just a quick commute to the city, not to mention other parts of the island due to its central location.
Gem Residences was launched in 2020. Being in the middle of Singapore’s first satellite town means that there are plenty of amenities close by. Although there aren’t any big malls, tenants will be close to two markets, the Toa Payoh HDB Hub, and choice schools that include CHIJ Toa Payoh, Raffles Girls’ School, Raffles Institution, Pei Chun Public School, Maris Stella High School (Primary Section), and St. Andrew’s Junior School.
In addition, the condo provides unique concierge services that include housekeeping, pet pools, fitness classes, and medical staff all on-site. Tenants can also order food and groceries through their concierge.
Browse all Gem Residences units for rent on PropertyGuru.
8. Eight Riversuites: High Life Along the Kallang River
Relax as the tranquil Kallang River flows alongside your rented haven at Eight Riversuites. Situated in Whampoa, this District 12 leasehold condo is also close to popular estates such as Potong Pasir, Toa Payoh, Novena, and Farrer Park.
Completed in 2016 by developer UE Development (Bendemeer) Pte. Ltd., Eight Riversuites has 862 units spanning 29 storeys. There’s also a connector that links inhabitants to Boon Keng (along the North East Line) and Geylang Bahru (along the Downtown Line) MRT stations, which means a direct train ride to town.
Whampoa and Bendemeer are also known for great hawker food, markets, and their proximity to park connectors for a jog or cycle to refresh your mind.
Browse all Eight Riversuites units for rent on PropertyGuru.
9. Parc Esta: Enjoy the Best Food in the East and Connectivity to the City
Parc Esta was completed in 2022 and recently claimed the top spot of condos to rent in Q4 2022. This gorgeous leasehold property developed by MCL Land Limited has 1,399 stunning units spread across nine 18-storey condominium blocks in 1- to 5-bedroom layouts.
The District 14 condo sits on an old plot of land directly across Eunos MRT station (along the East-West Line) and is popular with families and working professionals. For one, the development is just seven stops from Raffles Place MRT station. That means it’s only one stop from the bustling business centre at Paya Lebar MRT station. The same line also goes to Changi Business Park and Changi Airport.
For leisure, one advantage of staying in the east is the plethora of good food and trendy cafes, especially in the charming Katong/Joo Chiat and busy Bedok area. Head to East Coast Park for picnics and cycling trips, then to Simpang Bedok for a spot of supper. For families, nearby schools include Eunos Primary School, Haig Girls’ School, and Telok Kurau Secondary School.
Browse all Parc Esta units for rent on PropertyGuru.
10. d’Leedon: Available Villas Within a Short Walk From Singapore Botanic Gardens
Live along Farrer Road when you rent one of the 1,715 units over 36 floors at d’Leedon — one of the tallest buildings in the area. Tenants will be close to the hip Holland Village and Dempsey Hill enclaves, as well as Singapore’s very own Unesco World Heritage Site, the Singapore Botanic Gardens.
The famous Orchard Road shopping belt is just a quick bus ride and a short drive away. Choice schools in the Bukit Timah area include Nanyang Primary School and Hwa Chong Institution, which are also convenient for families. Farrer Park MRT station on the Circle Line is also just five minutes by foot.
Completed in 2014, d’Leedon used to be known as Farrer Court. The leasehold condo in the prime area of District 10 was developed by CapitaLand, which is known for its myriad regional developments. In addition to the usual apartments, tenants may also be able to rent one of the 12 semi-detached villa-type units.
Browse all d’Leedon units for rent on PropertyGuru.
Which Condo for Rent in Singapore Should You Go For?
Condos that were popular among renters in Q1 2023 shared these traits:
- They were either in the Core Central Region (CCR) or the Rest of Central Region (RCR)
- They were generally large developments (i.e. more than 500 units total), which increased the likelihood of available rental units and pickup
- On that note, they tended to have a large variety of unit types and floor plans, offering renters more options, and at different price points
- They were all within a 10-minute walk from their nearest MRT stations
- They were generally new developments, receiving their TOPs within the last 10 years
If you’re looking to rent a condo unit with the above qualities but find current rental prices out of your budget (and have felt that way for quite some time), like many renters, you’re probably looking for a direct answer to the hotly debated question: “Will rent prices finally come down in 2023?”
Unfortunately, the jury is still out on when rental prices will come down. But price growth moderation has been observed.
In the meantime, if you’re looking to rent a condo unit now, browse all condo units for rent on PropertyGuru.
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