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Negotiating rent based on price trends?

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CarlChristianBentzrød
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Negotiating rent based on price trends?

Post by CarlChristianBentzrød » Mon, 22 Feb 2021 4:29 am

Hello,

Relocating back to Singapore this spring and looking at renting initially. Normally we have just used prop-guru but also found 99.co which seem to have the same listings.

My question is what is peoples experience with the price trends on these web pages? It seems that 99.co has more transactions registered, or perhaps . is just not updated?

It also seems that 99.co lists a trend of 4k SGD average, on listings that are sitting at 5.4k. Either the listings are exorbitantly priced and should have loads of wiggle room - or the price trends are rubbish?

Anyone have any feeling with this?

Thanks
Carl

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Max Headroom
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Re: Negotiating rent based on price trends?

Post by Max Headroom » Mon, 22 Feb 2021 9:28 am

In my opinion, you'll find the rates there wildly up as compared to last year. It's what happens when despo agents/owners run rampant on what's effectively a property platform duopoly.

Not to say that one case is representative of the market of course, but we just offered to extend our one-year lease by one year at the same rate and got our owner's affirmative email within minutes.

In a nutshell: the rates on most property platforms, certainly when it comes to rent, are bogus af. Start by knocking off $500 at least - take it or shake it.





Edit: typo.

Lisafuller
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Re: Negotiating rent based on price trends?

Post by Lisafuller » Mon, 22 Feb 2021 12:18 pm

Agree with Max Headroom. Most of the price trends are nonsense; the figures are inaccurate and open to statistical manipulation. Most of the prices you’ll find have been dramatically inflated, so take them with a pinch of salt.

the observer
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Re: Negotiating rent based on price trends?

Post by the observer » Mon, 22 Feb 2021 12:35 pm

Price trends are from the URA website. That’s as transparent as it can get.


https://www.ura.gov.sg/realEstateIIWeb ... rch.action

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PNGMK
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Re: Negotiating rent based on price trends?

Post by PNGMK » Mon, 22 Feb 2021 1:36 pm

99 dot co is rip off by the PAP sponsored VC of prop guru
I not lawyer/teacher/CPA.
You've been arrested? Law Society of Singapore can provide referrals.
You want an International School job? School website or http://www.ISS.edu
Your rugrat needs a School? Avoid for profit schools
You need Tax advice? Ask a CPA
You ran away without doing NS? Shame on you!

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