According to the Singapore Property Market Report Q1 2023, rental prices of private homes reached a five-year high in Q4 2022. On top of that, there has been continued price increases quarter-on-quarter (QoQ), compared to Q3 2022.
While more condos received their Temporary Occupation Permit (TOP) as construction woes continued to alleviate, the rate of supply restoration remained slow.
Many tenants have felt the pinch due to the rise in rental prices, many of whom are expats who work in Singapore. That said, here are the top 10 condos for rent in Q4 2022.
Top 10 Most Popular Condos for Rent in Q4 2022
1. Parc Esta: City Fringe Living Accessible for Work and Play
As one of the newest developments, it’s no wonder Parc Esta claimed the top spot of condos to rent in Q4 2022. Taking over an old plot of land directly across Eunos MRT station, the condo has attracted families and working professionals with its 1,399 residential units.
For work, the condo is seven stops away from Raffles Place MRT station, within the Central Business District (CBD), and one stop from Paya Lebar MRT station, another upcoming business district.
For play, tenants can spend their weekends along East Coast Park (ECP) for picnics and cycling trips, and the Joo Chiat neighbourhood, which is lined up with cafes within bus stops from each other.
Browse all Parc Esta units for rent on PropertyGuru.
2. City Square Residences: Easy Access to Town and Good Local Delights
Having been a popular condo to rent over the past decade, the demand for staying in City Square Residences has stood the test of time, with 950 units situated right by the city centre. Located six minutes from Farrer Park MRT station and 10 minutes from Jalan Besar MRT station, tenants enjoy excellent connectivity all around Singapore.
The property is close to town and Little India, which boasts amenities and convenient establishments such as the famous 24/7 Mustafa Centre, City Square Mall, and Farrer Park Hospital. Bugis Junction and Dhoby Ghaut are also a stone’s throw away for those who fancy a short walk to the city on weekends.
Popular local eateries nearby include Swee Choon Tim Sum Restaurant and Beach Road Scissor-Cut Curry Rice.
Browse all City Square Residences units for rent on PropertyGuru.
3. Sophia Hills: A Hidden Enclave above the City
Launched in 2018 and tucked away high up behind Dhoby Ghaut MRT station, Sophia Hills is a hidden gem with peace and tranquillity unmatched for anyone who stays along the Orchard Road shopping belt.
Just a short four-minute walk away from Plaza Singapura, tenants in the relatively new development are also within distance of choice schools such as LASALLE College of the Arts (LASALLE), School of the Arts (SOTA), Nanyang Academy of Fine Arts (NAFA), and Singapore Management University (SMU).
Besides the malls in Orchard Road, residents are also just a stone’s throw away from Little India, Bugis Street, and the CBD.
Browse all Sophia Hills units for rent on PropertyGuru.
4. The Sail @ Marina Bay: Luxury Living in the Heart of D1
For those with a taste for the high life, The Sail @ Marina Bay offers spectacular views in the heart of District 1. Launched in 2008, the development is situated within the financial district.
Those seeking excellent connectivity to town will appreciate the direct underground passages to Downtown and Raffles Place MRT stations.
Tenants can enjoy luxury shopping at the Marina Bay Sands (MBS), local hawker fare at Lau Pa Sat just across the road, and a front-row seat to the fireworks displays every New Year’s and National Day.
Browse all The Sail @ Marina Bay units for rent on PropertyGuru.
5. Sims Urban Oasis: 15-Minute Commute to the City
With just over a thousand units launched in this condo half a decade ago, Sims Urban Oasis offers the comfort and amenities of a new condo on the outskirts of the Aljunied and Geylang districts.
This condo is a six-minute walk to Aljunied MRT station, and from there, tenants will find themselves just five stops away from Raffles Place MRT station and one stop from the new Paya Lebar business district.
Popular food spots nearby include No Signboard Seafood, 126 Dim Sum Wen Dao Shi, and Geylang Lorong 9 Frog Porridge.
Browse all Sims Urban Oasis units for rent on PropertyGuru.
6. Urban Vista: Suburban Living in the East
Urban Vista is a four-minute walk from Tanah Merah MRT station, which connects tenants directly to Raffles Place, Paya Lebar, and Changi Airport via the East-West Line (EWL).
This condo is perfect for renters who prefer a quiet estate with food hotspots nearby, including Simpang Bedok, Bedok 85 Market, and Bedok Food Centre.
Adventurers can travel out for a good cuppa or weekend brunch at Katong and Siglap a short 15-minute drive away, and work up a sweat at amenities suitable for exercise, such as Heartbeat@Bedok, Bedok Reservoir, and East Coast Park.
Browse all Urban Vista units for rent on PropertyGuru.
7. Eight Riversuites: Serenity by the Kallang River
Eight Riversuites is located in Whampoa, which sits right in the middle of popular estates such as Potong Pasir, Toa Payoh, Novena, and Farrer Park.
Completed in 2016, this condo is also along the Kallang River and Kallang Riverside Park, with a connector linking residents to Boon Keng and Geylang Bahru MRT stations – that’s direct transport to Dhoby Ghaut and the CBD!
Tenants can also enjoy a plethora of food choices within Whampoa and Bendemeer.
Browse all Eight Riversuites units for rent on PropertyGuru.
8. JadeScape: New Kid on the Block
As the newest development on this list, JadeScape is a mega development with 1,206 units on a giant plot of land in Upper Thomson.
This condo is situated next to Marymount MRT station on the Circle Line (CCL). Tenants are also less than 10 minutes away from the newly launched Upper Thomson MRT station, which can take them directly to Orchard Road via the Thomson-East Coast Line (TEL).
The condo is also near the famous Upper Thomson stretch of cafes and local food. Tenant families will be glad to find themselves close to choice schools including Raffles Institution and Ai Tong Primary School. They will also be able to spend weekends having leisurely walks along the nearby MacRitchie Reservoir.
Browse all JadeScape units for rent on PropertyGuru.
9. d’Leedon: Premier Living in D10
With 1,715 units in the highly sought-after neighbourhood along Farrer Road, d’Leedon has no shortage of units available for renters looking to be close to iconic spots such as Holland Village and the Singapore Botanic Gardens.
The Orchard Road shopping belt is also less than 20 minutes away via Dunearn Road, and residents are a seven-minute walk away from Farrer Road MRT station on the CCL. Tenant families are also close to choice schools in Bukit Timah such as Nanyang Primary School and Hwa Chong Institution.
Browse all d’Leedon units for rent on PropertyGuru.
10. Gem Residences: Doorstep Concierge Services in a Condo
Launched in 2020, Gem Residences boasts 578 units in the popular mature estate of Toa Payoh. Situated along the North-South Line just five stops away from town, residents can choose between Braddell or Toa Payoh MRT stations for their commute to the city.
As one of the island’s oldest estates, Toa Payoh Hub is home to a plethora of food choices and amenities.
Browse all Gem Residences units for rent on PropertyGuru.
Which Condo for Rent in Singapore Should You Go For?
Unsurprisingly, connectivity to the city is a key factor among condo tenants when choosing a place to live: most of the best-performing condos for rent in Q4 2022 were located either in CCR or RCR and within walking distance away from MRT stations.
It’s undeniable that the condo market remains red hot, with asking prices for rent at a high. If you’re looking for a condo unit to rent right now and are on a budget, you may have to compromise between how close you want to be to the city centre versus how much to fork out for rent every month.
The good news: as more condos are expected to TOP in 2023, rental prices may stabilise as the year goes on. In that case, you may also be able to enjoy a wider selection of condo types before finding one that best suits your needs.
Good luck!
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