Singapore is known for its high cost of living, and this includes the cost of renting a house. In this article, we’ll explore the average cost of renting a house in Singapore and what factors can affect the rental price.
According to data from the Urban Redevelopment Authority, the average monthly rent for a non-landed private residential property in Singapore was S$3,562 in Q3 2021. This includes apartments, condominiums, and landed properties. However, rental prices can vary greatly depending on factors such as location, size, and amenities.
Location is one of the biggest factors that can affect the rental price of a house in Singapore. Properties located in prime areas such as Orchard Road, Sentosa, and the Central Business District (CBD) can command significantly higher rental prices than those in less desirable locations.
Size is another important factor. Larger properties with more bedrooms and bathrooms will generally cost more to rent than smaller ones. The same is true for properties with additional amenities such as a pool, gym, or parking facilities.
In addition to the above factors, the age and condition of the property can also affect the rental price. Older properties may be cheaper to rent, but they may also require more maintenance and repairs, which can add to the overall cost.
It’s worth noting that rental prices in Singapore are typically quoted on a monthly basis and do not include additional costs such as utilities, internet, and cable TV. These costs can add up quickly, so it’s important to factor them into your budget when considering the cost of renting a house in Singapore.
Overall, the cost of renting a house in Singapore can be quite high, particularly in prime locations or for larger properties with additional amenities. However, there are also more affordable options available, particularly for those willing to live in less desirable locations or older properties. As with any rental property, it’s important to do your research and factor in all the costs before making a decision.
