What are the trends in the housing markets of Seoul and Singapore?

    Jul 06, 2022 @ 06:05 PM / by Yimkwan Tsang


    What are the trends in the housing markets of Seoul and Singapore?

    Over the last two years, Seoul and Singapore have faced tremendous changes in their housing rental markets. Both markets significantly favor landlords as stock remains very tight. Demand for rentals is increasing, especially in Singapore, resulting in bidding wars where tenants pay higher than the asking price just to get their desired property.

    A quick overview of the market situation:


    Seoul Singapore

    What is happening with rental stock?

    Very tight

    Very tight

    How is demand?

    High and rising

    High and rising

    What is the new trend in payment systems?

    The monthly rent payment method preferred by expatriates is becoming less and less common and landlords may require full payment of the lease up front in addition to a deposit or may only be willing to consider local payment methods

    Renters should expect to pay a commission to tenant agents at all price points as landlord agents have the upper hand

    Is there new stock outside of desired/ expatriate neighborhoods?

    Expatriates have a difficult time finding properties in the local market that offer a preferred payment system

    West Singapore, which typically features more local housing, is gaining popularity

    What are the apartment and house rent inflation rates (from 2019, before the pandemic)?



    What does this mean for your assignees in these locations or starting an assignment in these locations?

    Please contact AIRINC! We can help!


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    Topics: Housing, Expatriate Housing, Global Mobility, Rental property, Singapore, Calculate a housing budget, Advisory Services, Seoul

    Yimkwan Tsang

    Written by Yimkwan Tsang

    Yimkwan joined AIRINC in 2017 as a surveyor and analyst, and is currently serving as a Senior Research Analyst. Her primary responsibilities include conducting international pricing and housing surveys, and analyzing the returned data. She also assists in the production of AIRINC’s WeChat account. Prior to AIRINC, she worked in Ipsos and different academic settings for various types of research. Yimkwan received her B.S. in Applied Psychology from New York University, and her M.S. degree in Housing Studies from The Chinese University of Hong Kong. In addition to English, she speaks Cantonese and Mandarin. She is based in Hong Kong.