HDB Rental Yield by Flat Type and Town

Islandwide gross rental yield by flat type

Median rent × 12 ÷ median resale price, 2025 – 2026. Smaller flats yield more.

Whole-flat rentals only. Source: Renting Out of Flats and Resale Flat Prices, HDB.

4-room gross rental yield by town

Median 4-room rent × 12 ÷ median 4-room resale price, by town.

Median 4-room rent × 12 ÷ median 4-room resale price, 2025 – 2026, by town. Source: Renting Out of Flats and Resale Flat Prices, HDB.

Context for the number

• 5–7.5% gross is well above a private condo, which typically runs 3–3.5% gross at today's prices.
• "Gross" is doing a lot of work. Property tax is higher on a flat that is rented out rather than owner-occupied, and agent commission, repairs, vacancy between tenants and income tax on the rent all come off the top.
• Rents have been broadly flat to softer since the 2022–2023 spike, while prices kept rising — so yields have compressed over the last two years.

What it means

• This is a rent-out-versus-sell number, not a buy-to-let plan. You cannot own a second HDB flat, and you can only rent the whole flat out after MOP, subject to a rental cap period and occupancy rules.
• If you are keeping a smaller flat in an outlying town, the yield case for renting rather than selling is at its strongest — 7% gross on a S$450k 3-room.
• If it is a large flat in a prime town yielding under 5%, the low return tilts the decision toward selling and redeploying the capital.