According to figures from the The Urban Redevelopment Authority (URA), private residential property rentals in Singapore increased by 7.4% in the fourth quarter of 2022, compared with the 8.6% increase in the previous quarter. 

With the rise in supply of newly completed units expected in 2023, can this ease the high rental rates in the private residential leasing market?

Nicholas Mak, Head of Research & Consultancy, ERA Realty shares his insights on whether or not we can really expect rental prices to stabilise.