Net Rental Yield Calculator Singapore 2026
Gross vs Net Yield After Maintenance, Property Tax (NOO), Agent Fees, Vacancy & Repairs
Calculate the true return on your Singapore rental property — the net yield that accounts for all landlord expenses, not just the headline gross rent. Singapore landlords often quote gross yield (annual rent ÷ price) but the real return after vacancy loss, maintenance fees, non-owner-occupied (NOO) property tax, agent commission, insurance, and repairs is typically 1–2% lower. This calculator computes the full net yield using 2026 IRAS NOO property tax rates, plus the cash-on-cash return on your actual capital invested (down payment + transaction costs) if you are using mortgage leverage.
1 month for a 1-year lease; 0.5 month for 2-year lease (shared)
Annual allowance for repairs, maintenance capex, and refurbishment. Typical: 0.5%–1% for condo; 1%–2% for older properties. This tool auto-computes IRAS NOO property tax from your rent.
Your total out-of-pocket (down payment + ABSD + BSD + legal + renovation). Cash-on-cash return = annual cash flow ÷ this amount.
Enter your property price, monthly rent, and expenses to see gross yield, net yield, IRAS NOO property tax, and cash-on-cash return.
Net Rental Yield Singapore 2026 — Why Gross Yield Is Misleading & All Landlord Costs Included
Gross yield (annual rent ÷ price × 100) is the number most agents use to sell investment properties — but it tells only half the story. A 5% gross yield condo may actually deliver only 2.5%–3% net after all landlord expenses. The biggest hidden costs in Singapore: (1) non-owner-occupied property tax (10%–20% of Annual Value); (2) maintenance and sinking fund fees (S$300–S$700/month for most condos); (3) vacancy (typically 5–10%, equal to 0.6–1.2 months of lost rent per year); (4) agent commission (1 month’s rent per annual tenancy). This calculator deducts all of these using 2026 IRAS NOO tax rates to show your real net return.
IRAS Non-Owner-Occupied Residential Property Tax 2026
| Annual Value (AV) Band | Tax Rate | Example |
|---|---|---|
| First S$8,000 | 10% | S$800 |
| Next S$22,000 (S$8K–S$30K) | 12% | S$2,640 |
| Next S$22,000 (S$30K–S$52K) | 14% | S$3,080 |
| Next S$40,000 (S$52K–S$92K) | 16% | S$6,400 |
| Above S$92,000 | 20% | Progressive |
Annual Value (AV) = estimated annual rent a property could fetch on the open market (assessed by IRAS, roughly equal to 12× monthly market rent). The NOO property tax bill on a S$4,500/mo condo (AV S$54,000) is approximately S$7,080/year — reducing net yield by about 0.59% on a S$1.2M property.
Typical Net Yield After All Expenses (Singapore 2026)
| Property Type | Gross Yield | Est. Net Yield | Key Cost Driver |
|---|---|---|---|
| Mass-market condo | 3.5%–4.5% | 2.0%–3.0% | Maintenance + tax |
| Luxury condo (CCR) | 2.5%–3.5% | 1.5%–2.5% | Very high tax on AV |
| HDB resale (rented) | 4.0%–5.0% | 3.0%–4.0% | Lower maintenance |
| Shoebox (<500 sqft) | 4.5%–5.5% | 3.0%–4.0% | High rent density |
How This Rental Yield Calculator Works — Gross, Net & Cash-on-Cash
Step 1 — Enter Price and Monthly Rent
Enter your property price and the monthly rental income. The gross yield is calculated immediately. The Annual Value (AV) for property tax is estimated as 12× monthly rent — the same approach IRAS uses as a starting point (though the official AV may differ slightly).
Step 2 — Enter All Landlord Expenses
Enter monthly maintenance/S&CC, insurance, agent commission months, expected vacancy rate, and repair budget. The NOO property tax is computed automatically from the AV using 2026 IRAS progressive rates — no separate entry needed.
Step 3 — Add Leverage for Cash-on-Cash
Optionally enter your mortgage details and total cash invested. The cash-on-cash return shows the annual cash flow (net income minus mortgage interest) as a percentage of your actual capital deployed — the most relevant metric for leveraged property investors.
3 Real Singapore Yield Examples — Mass Market Condo, CCR Luxury & HDB
S$1.2M Condo, S$4,500/mo Rent
S$3.5M CCR, S$9,000/mo Rent
S$500K HDB, S$2,800/mo Rent
3 Expert Yield Tips — Tax-Efficient Renting, Vacancy vs Premium Rent & REITs vs Direct
Owner-Occupied vs NOO Tax Saves Up to S$10,000+ Annually
If you occupy part of your property (e.g., rent out rooms while living in the same condo), you pay owner-occupied property tax instead of NOO rates. The difference is dramatic: a property with AV S$60,000 pays OO tax of approximately S$1,380 vs NOO tax of S$8,120 — a S$6,740 annual saving. This tax saving effectively increases your net yield by 0.56% on a S$1.2M property. If you have a spare room or are considering a live-in landlord strategy (rent rooms, occupy main bedroom), the OO tax benefit can substantially improve your actual return vs this calculator’s output (which assumes full NOO status).
Vacancy Rate Is the Most Volatile Cost — Minimise with Tenancy Renewal
A 5% vacancy rate seems small but equals 18 days of lost rent per year. If your flat sits empty for 2 months between tenants (16.7% vacancy), you lose S$9,000 on a S$4,500/month rental — obliterating your net yield. Strategies to minimise vacancy: (1) offer modest rent reductions (S$200–S$300/mo) to retain good tenants for a second term — retention is cheaper than vacancy; (2) start marketing 2 months before tenancy expiry; (3) use a proactive agent on monthly retainer rather than commission-per-let. The math: lowering rent by S$200/mo to retain a tenant saves S$9,000 vacancy loss = net saving S$6,600 per year.
Compare Your Net Yield Against S-REITs Before Leveraging Further
Singapore REITs (S-REITs) typically distribute 5%–7% annually, are highly liquid, require no management, have no NOO tax, and pay no stamp duty. If your net rental yield after all costs is 2.5% and REITs yield 6%, the direct property investment only makes sense if: (1) you benefit significantly from capital appreciation; (2) leverage amplifies your cash-on-cash return above the REIT yield; (3) you have specific tax or estate planning reasons. Use cash-on-cash return (leveraged) — not net yield — as your comparison metric against REITs. A S$400K cash invested at 2.5% net yield earns S$10,000/yr vs the same S$400K in REITs at 6% = S$24,000/yr (3× more, with full liquidity).