Singapore private residential leasing rebounds 4% in Q1

There were 20,862 leasing transactions during the quarter.

Singapore’s private residential leasing market recorded a moderate rebound in Q1 2026, following a typical seasonal slowdown after the year-end festive period, according to Savills.

Savills reported that island-wide leasing volumes for private residential properties, excluding executive condominiums, rose 4.0% quarter-on-quarter to 20,862 transactions, up from 20,051 in Q4 2025. The recovery was mainly driven by the non-landed segment, which increased 4.1% QoQ to 19,784 deals.

By sub-market, the Outside Central Region (OCR) led growth with a 6.5% increase in leasing activity, followed by the Rest of Central Region (RCR) at 4.3%, while the Core Central Region (CCR) recorded a more modest 0.9% gain. Savills attributed the divergence to continued tenant price sensitivity and a wider range of leasing options in the OCR, supported by newly completed developments.

The landed housing segment also improved, rising 3.6% QoQ to 1,078 transactions, although Savills noted that it remains comparatively subdued on a broader basis.

On a year-on-year basis, overall private residential leasing demand was broadly stable, inching up 0.6% compared to Q1 2025. However, performance varied across segments, with OCR non-landed leasing up 5.4% YoY, partially offset by declines in the CCR and RCR. Landed leasing demand fell 2.8% YoY, marking a fourth consecutive quarter of contraction.

Among individual developments, Normanton Park recorded the highest number of new leasing contracts at 265 transactions in Q1 2026. It was followed by Marina One Residences with 141 deals and The M with 133. Suburban projects Treasure at Tampines and Parc Clematis completed the top five with 127 and 116 transactions respectively.

Savills also noted that smaller unit types continued to dominate leasing demand across these developments. One-bedroom units accounted for 45.8% of transactions, followed by two-bedroom units at 35.7%, underscoring sustained tenant preference for smaller and more efficient layouts.