The temporary rental measure in Singapore will be implemented from January 22, 2024, until December 31, 2026, with a review based on rental conditions. The objective is to better meet rental demand and support families intending to rent. Analysts point out that the reasons for rent increases include a shortage of housing supply and a surge in rental demand.

Due to construction delays caused by the Covid-19 pandemic, housing supply is expected to decrease by approximately 20% from 2023 to 2025. This means that many families waiting for new homes to be completed will continue renting, crowding the rental market.

Another reason is the surge in rental demand. As the pandemic stabilizes and global travel resumes, foreign nationals, international students, and permanent residents returning to the country have increased the demand for housing. Additionally, some young Singaporeans want to rent for their own space or to live with friends or partners.

Rising rents also reflect landlords' cost pressures. With the rise in mortgage interest rates, taxes, and inflation, many landlords have passed on the costs to tenants, leading to rent hikes. Therefore, the government has decided to temporarily relax the maximum number of tenants allowed in larger public and private residential properties to alleviate the issue of rising rents.

In addition to the temporary measure of expanding tenant numbers, Singapore authorities have taken other steps to increase housing supply and ease the tight rental market. Nearly 100,000 units of public and private residential properties are expected to be completed between 2023 and 2025, marking the highest level of housing supply in the past decade.

Meanwhile, the HDB (Housing and Development Board) is also offering other temporary housing options, such as short-term rental plans, rental purchase plans, and open market rental plans, to assist families with different needs.

These measures aim to help Singaporeans find suitable housing in the rental market while also protecting their health and safety. Minister for National Development Lawrence Wong stated on Facebook, "We will review whether an extension of this temporary measure is needed, based on rental conditions towards the end of 2026."

During the implementation of these measures, both landlords and tenants are urged to adhere to relevant regulations and guidelines to maintain good neighborly relations and community harmony.