Median rents for three-bedroom condo units in District 1 hit $9,225 per month in 1Q2025: Savills

District 1, covering the Boat Quay, Marina and Raffles Place areas, has retained its top spot as the district commanding the highest rents for a three-bedroom condo unit, according to research by Savills Singapore. In its 1Q2025 Rental Guide, Savills says that three-bedders in District 1 registered the highest average median rent in 1Q2025 at $9,225 per month, up 8.5% q-o-q from $8,500 per month in 4Q2024.

District 4, covering the HarbouFront and Telok Blangah areas, also retained its position as second most expensive place to rent, despite rents dipping slightly. According to Savills, average median rents for three-bedroom condo units in the district inched 0.6% lower to $8,200 per month last quarter.

On the other hand, median rents for three-bedroom condo units in District 2, covering the Chinatown and Tanjong Pagar areas, have risen 14.3% in 1Q2025 to hit $8,000 per month. Savills says three-bedroom units in District 2 now have the third-highest average median rents islandwide, rising one spot to overtake District 9 (Orchard Road and River Valley).

Overall, rents for one- to five-bedroom units rose across all market segments in 1Q2025, says Savills. In the Core Central Region (CCR), rents rose 1.3% q-o-q, while rents in the Rest of Central Region (RCR) and the Outside Central Region (OCR) rose 1.4% and 1.5% respectively.

Nonetheless, Alan Cheong, executive director of research and consultancy at Savills Singapore, believes rents will “stay sideways” for the rest of the year, with sharp rental increases unlikely. “At a more granular level, we may see a more fragmented rental trajectory for the rest of the year with some districts, especially those one- to three-bedroom types in the CCR and RCR gaining ground whilst higher rental quantum unit types lagging in performance,” he adds.