Rentals in Singapore

[abbby]

I've been hearing from friends the rental of houses have increased from 30% to 70% Thats an incredible increase in rent...but from what I see, the rents have actually gone down for quite a few years and due to the recent demand for rents, prices are on its' up again. And also inflation, demand, increment in property tax, will make rentals go up even higher..

Are you affected by the recent rental increase?

[Lisafuller]

Not affected personally (luckily I own my home), but have heard about the price surge for rent. Best time to fix a lease would have been during peak covid when everyone was holding on tightly to their finances. Everyone scrambling now has missed the opportunity.

[Charlesterry8]

I've been hearing from friends the rental of houses have increased from 30% to 70% Thats an incredible increase in rent...but from what I see, the rents have actually gone down for quite a few years and due to the recent demand for rents, prices are on its' up again. And also inflation, demand, increment in property tax, will make rentals go up even higher..

Are you affected by the recent rental increase?

Hey Abby,

you can see this latest article about rising rents.
https://www.straitstimes.com/business/p ... mains-firm

It looks rather unpredictable and I hope it doesn't. My rental is due soon and I hope it doesn't rise any higher.

[sundaymorningstaple]

You can almost bet on it rising. There is going to be potentially major influx from HK & Taiwan if the two elephants don't stop rattling their sabers in the S. China Sea. The same is going to happens with the COE prices if the bankers and millionaires vacate HK & Taiwan.

[BBCDoc]

2 of my friends in central region and Sentosa confirm rental increase of 40%+

List price of condos also up 15-20% too…let’s wait and see transaction price…


Sent from my iPhone using Tapatalk

[rajagainstthemachine]

For me 50% , quite steep, im sucking it up though
Given the fact there are not enough alternatives and supply is short

[Lisafuller]

You can almost bet on it rising. There is going to be potentially major influx from HK & Taiwan if the two elephants don't stop rattling their sabers in the S. China Sea. The same is going to happens with the COE prices if the bankers and millionaires vacate HK & Taiwan.

Exactly, and now that the economy is recovering from Covid things will only go up.

[Lisafuller]

2 of my friends in central region and Sentosa confirm rental increase of 40%+

List price of condos also up 15-20% too…let’s wait and see transaction price…


Sent from my iPhone using Tapatalk

40%?!?!

[Lisafuller]

For me 50% , quite steep, im sucking it up though
Given the fact there are not enough alternatives and supply is short

Wow, that is not even steep, it is straight up crazy! Which area are you in?

[rajagainstthemachine]

For me 50% , quite steep, im sucking it up though
Given the fact there are not enough alternatives and supply is short

Wow, that is not even steep, it is straight up crazy! Which area are you in?

Timah

[Wd40]

I already posted this in PR and Visa forum:

This is just normal inflation jump conditions how it works in SG. Rents remain stable for a long time and then suddenly jump. People who have been here very long, like SMS and Malcontent, will know this. In around 2005-06 condos used to rent for 1.5k whole condos! HDBs were not even available for foreigners to rent. Then they suddenly shot up and I know when I came here in 2009, the old timers were complaining how everything is more expensive. But hey, thats how it works. The lower people in the expat value chain get pushed out and higher people move in.

If you see Hong Kong, it is already much more expensive than Singapore and there is no reason why Singapore should lag behind.

Also it is not like rentals are going up only here. They are going up everywhere. We have just had a pandemic and insane amount of money printing and now crazy inflation in most countries, in the US and Europe close to double digits. Europe is not going to have gas for their winter heating! The whole world is in a major crisis.

So hold on there, this will eventually get solved, like it always does. Salaries will go up along with inflation and we will find an equilibrium and then rents will again be stable for a long time.

[nelyanne]

I was lucky to sign a 2Y contract at the end of the last year, and moved in January this year.
When I check the latest transactional rental prices shown for my condo, the increase is maybe +10%. It seems like different areas are affected in a different way?

[Lisafuller]

For me 50% , quite steep, im sucking it up though
Given the fact there are not enough alternatives and supply is short

Wow, that is not even steep, it is straight up crazy! Which area are you in?

Timah

Oh, same here but I own my home so I guess I haven’t really noticed the prices.

[Lisafuller]

I already posted this in PR and Visa forum:

This is just normal inflation jump conditions how it works in SG. Rents remain stable for a long time and then suddenly jump. People who have been here very long, like SMS and Malcontent, will know this. In around 2005-06 condos used to rent for 1.5k whole condos! HDBs were not even available for foreigners to rent. Then they suddenly shot up and I know when I came here in 2009, the old timers were complaining how everything is more expensive. But hey, thats how it works. The lower people in the expat value chain get pushed out and higher people move in.

If you see Hong Kong, it is already much more expensive than Singapore and there is no reason why Singapore should lag behind.

Also it is not like rentals are going up only here. They are going up everywhere. We have just had a pandemic and insane amount of money printing and now crazy inflation in most countries, in the US and Europe close to double digits. Europe is not going to have gas for their winter heating! The whole world is in a major crisis.

So hold on there, this will eventually get solved, like it always does. Salaries will go up along with inflation and we will find an equilibrium and then rents will again be stable for a long time.

Can only hope that salaries go up by a proportionate amount!

[Lisafuller]

I was lucky to sign a 2Y contract at the end of the last year, and moved in January this year.
When I check the latest transactional rental prices shown for my condo, the increase is maybe +10%. It seems like different areas are affected in a different way?

Perhaps it’s just demand and supply, the overarching trend is that prices have gone up, as for exactly how much it does depend on the area.