According to Singapore's property websites (99.co and SRX), rents rose by 36.18 per cent in the third quarter of 2022 compared to the same period in 2021, which is higher than the previous years' increases combined.

According to the annual data, flat rents increased by 34.4% in 2022 compared to 2021, and HDB rents increased by an equally impressive rate.

SRX data alone shows that HDB rents increased by 28.5% in 2022 compared to the previous year. Sky-high rents in 2022

With such a high rate of increase, people are still faced with a lack of prices and difficulty in finding housing. Many landlords are even taking advantage of this by renting out sky-high prices for their homes, much to the chagrin of the public.

A friend told Singapore Eye that he was looking at a house for rent at S$6800/month, but within a day, it was snapped up by someone for S$7500/month.

Don't think that HDB flats in Singapore are cheaper than flats. According to HDB, a 4-bedroom flat in Seng Poh Road was rented for S$6,200/month in December 2022.

This is the highest HDB flat rent recorded in 2022.

On a median basis, HDB rental and sale prices in Q4 2022 will range from S$2200/month to S$4200/month, with the highest rents in Queenstown and the lowest rents in Hougang.