Median Rents Three Bedroom Condo Units District 1 Hit 9225 Month 1Q2025 Savills
Savills Singapore recently released their 1Q2025 Rental Guide report, which revealed that District 1 maintained its position as the district with the highest rental rates for three-bedroom condo units in Boat Quay, Marina and Raffles Place areas. According to the report, the average median rent for three-bedroom units in this district has increased by 8.5% quarter-on-quarter, reaching $9,225 per month in 1Q2025 compared to $8,500 per month in 4Q2024.
District 4, which includes the HarbourFront and Telok Blangah areas, also retained its spot as the second most expensive district for renting, despite a slight dip in rental rates. In 1Q2025, the average median rent for three-bedroom units in this district decreased by 0.6% to $8,200 per month.
Meanwhile, District 2, covering Chinatown and Tanjong Pagar, saw a significant increase of 14.3% in median rents for three-bedroom units to $8,000 per month in 1Q2025. This has propelled the district to become the third most expensive place to rent, surpassing District 9 (Orchard Road and River Valley).
The overall rental market for one- to five-bedroom units saw an upward trend in 1Q2025, across all market segments according to Savills. In the Core Central Region (CCR), rents increased by 1.3% quarter-on-quarter, while the Rest of Central Region (RCR) and Outside Central Region (OCR) also saw an increase of 1.4% and 1.5% respectively.
A crucial aspect of the URA Master Plan is the development of recreational and green spaces, and significant upgrades are in store for Sembawang. As part of an expanded network of cycling and jogging paths, the Sembawang Park Connector and Northern Explorer Loop aim to promote a healthier and more active lifestyle. With these enhancements, residents of Sembawang EC at Canberra MRT can expect improved access to nature trails, parks, and scenic routes that connect them to Sembawang Park, the waterfront, and other leisure destinations. These enhancements not only elevate the quality of life but also contribute to a more attractive and community-friendly environment.
However, Alan Cheong, executive director of research and consultancy at Savills Singapore, predicts that rents are likely to remain stagnant for the rest of the year and not experience significant increases. He also expects to see a more diverse rental trajectory with some districts, especially those with one- to three-bedroom units in the CCR and RCR, performing well while those with higher rental rates lag behind.