As we mentioned in a previous article, rental rates are at a six-year high, and are still likely to increase. 2022 has proven kind to landlords, but not so much to tenants. 2023 could be the year when rental starts to slow down as reported by The Straits Times. Regardless, tenants need to do everything they can to lock in better rates, and keep their costs down – especially since construction delays may cause a longer wait for your new home:

Editor’s Note: This article was updated on 7th April 2023 to reflect the latest figures.

1. Check for rental options one train stop away

As an example, consider the average rental rate of condos near Paya Lebar MRT, versus Aljunied and Eunos MRT stations. 

Aljunied and Eunos are both one stop away from Paya Lebar. However, the difference is that Paya Lebar Quarter (PLQ) is a major commercial hub, whereas the other two are not: