This year's rent price increase hovered around 20%-40%, rising by 8.9% in the third quarter alone.

Among them, flat prices rose by 26%-28%, which means that the rent of S$2,600/month last year will cost nearly S$3,400/month to rent this year.

Private housing is even crazier. Where once you could rent a 2-bedroom apartment near Hwa Chong for S$3,000+/month, it now costs S$4,500/month. In some places, the increase was 50% at one point.

Not only has the rent gone up ridiculously, but with 2-3 hot rooms, the internet is simply too fast to grab.

According to OrangeEasy Industry Research and Consulting predicts that rents will continue to rise next year and may continue to rise by 15-18% next year.

Bank Negara Malaysia estimates that accommodation inflation will reach 5%-7% next year, which will be the fastest growth rate in the last 10 years.

The reasons for the rise are complex. The main reason is that more foreign workers are arriving for new jobs, and five-year work visas and long-term visas for specific fields have opened up. More people flocking to Singapore, driving the rental market.

At the same time, in order to curb the overheated real estate market, the Singapore government has tightened the housing loan limits, leading to an oversupply in the rental market.

The real estate market in Europe and the United States is experiencing a cold spell, and more investors are turning to Singapore, which is experiencing an exceptional boom.

For the continued rise in rents, industry insiders say that this trend is likely to continue until around 2025 before it decreases.