Rents are peaking!

[Mom_In_SG]

Thanks, i hope so and we do have some time to monitor the price in our preferred area.

From LL preference for 2 year lease, i guess it's fair to assume that it is in their interest to secure a long term commitment by the end of the peak.

why do you sound so secretive about your preferred area? what is it ? and how much are you paying currently?
are you staying in a hdb or condo or landed ?

I guess it's unintentional. We're currently staying in a condo in north east and prefer to stay in Hougang/Buangkok/Sengkang/Punggol.

By now, the increase in rent as requested by LL is close to 30% from what we had in the last lease of 3.5k 3 bedder.

[Mom_In_SG]

Thanks, i hope so and we do have some time to monitor the price in our preferred area.

From LL preference for 2 year lease, i guess it's fair to assume that it is in their interest to secure a long term commitment by the end of the peak.

why do you sound so secretive about your preferred area? what is it ? and how much are you paying currently?
are you staying in a hdb or condo or landed ?

I guess it's unintentional. We're currently staying in a condo in north east and prefer to stay in Hougang/Buangkok/Sengkang/Punggol.

By now, the increase in rent as requested by LL is close to 30% from what we had in the last lease of 3.5k 3 bedder.

[NYY1]

Thanks, i hope so and we do have some time to monitor the price in our preferred area.

From LL preference for 2 year lease, i guess it's fair to assume that it is in their interest to secure a long term commitment by the end of the peak.

why do you sound so secretive about your preferred area? what is it ? and how much are you paying currently?
are you staying in a hdb or condo or landed ?

I guess it's unintentional. We're currently staying in a condo in north east and prefer to stay in Hougang/Buangkok/Sengkang/Punggol.

By now, the increase in rent as requested by LL is close to 30% from what we had in the last lease of 3.5k 3 bedder.

Just look at the SRX Rental Index or the actual transactions for your development on URA to get a sense of where things are transacting. +30% from late-2021 would not be unreasonable, and may even show signs of a moderating market.

[Mom_In_SG]

why do you sound so secretive about your preferred area? what is it ? and how much are you paying currently?
are you staying in a hdb or condo or landed ?

I guess it's unintentional. We're currently staying in a condo in north east and prefer to stay in Hougang/Buangkok/Sengkang/Punggol.

By now, the increase in rent as requested by LL is close to 30% from what we had in the last lease of 3.5k 3 bedder.

Just look at the SRX Rental Index or the actual transactions for your development on URA to get a sense of where things are transacting. +30% from late-2021 would not be unreasonable, and may even show signs of a moderating market.

Thank you, this is very useful

[Lisafuller]

In comical turn of events yesterday my agent come back to me again and said that she made an error and that the rental will be 3800$ for one year and 3700$ for 2 years, LMFAO
So I will start looking at new places soon…

Sorry to hear, what a joke. I did find their negotiating strategy odd (dropping such a large amount all at once) but wasn't sure what's going on with the building. Good luck finding something else.

It just tells you how grossly incompetent some people are. They had just one job and the most crucial part the rent amount and they got that wrong.

Right, and then they still have the cheek to demand outrageous commissions.

[Lisafuller]

In comical turn of events yesterday my agent come back to me again and said that she made an error and that the rental will be 3800$ for one year and 3700$ for 2 years, LMFAO
So I will start looking at new places soon…

Sorry to hear, what a joke. I did find their negotiating strategy odd (dropping such a large amount all at once) but wasn't sure what's going on with the building. Good luck finding something else.

Yes sir truth hurts LOL..
Yes need to start looking for a new one, It will be completely unacceptable and a joke if I would accept 3800K for a shoe box even if I can afford..

Probably they are trying to target the high income westerners to rent the apartment

Possibly. Just let it go, look for something more suitable on your own, and they may change their minds. Otherwise, you've got a perfectly good back up.

[Lisafuller]

Hi all, is the rental price is still on its peak nowadays? After 2 years of calm live we are now having to face LL's request for a sigfinicant jump in rental.

Could forum member share latest insights for our reference?

From my research Punggol and Sengkang rents are really crashing. There ar lots of vacancies there and asking rents are coming down to even 3.4k for 3 bedroom hdb. Jurong on the other hand similar flat owners are asking 4-4.2k, there are lots of vacancies here also. Maybe owners ar trying their best keep the charade going. I think a huge wall of supply is coming and these rents are not sustainable at all. So just tahan for some more time if you can and negotiate like crazy.

You're right, it's a matter of time before this all comes crashing down. The landlords are just riding the wave for as long as they can.

[Lisafuller]

Hi all, is the rental price is still on its peak nowadays? After 2 years of calm live we are now having to face LL's request for a sigfinicant jump in rental.

Could forum member share latest insights for our reference?

From my research Punggol and Sengkang rents are really crashing. There ar lots of vacancies there and asking rents are coming down to even 3.4k for 3 bedroom hdb. Jurong on the other hand similar flat owners are asking 4-4.2k, there are lots of vacancies here also. Maybe owners ar trying their best keep the charade going. I think a huge wall of supply is coming and these rents are not sustainable at all. So just tahan for some more time if you can and negotiate like crazy.

Thanks, i hope so and we do have some time to monitor the price in our preferred area.

From LL preference for 2 year lease, i guess it's fair to assume that it is in their interest to secure a long term commitment by the end of the peak.

Definitely, but at the same time, it's also important to build relations with good tenants. You don't want to drive them out, which is what many are doing now. Truly unfortunate.

[Lisafuller]

why do you sound so secretive about your preferred area? what is it ? and how much are you paying currently?
are you staying in a hdb or condo or landed ?

I guess it's unintentional. We're currently staying in a condo in north east and prefer to stay in Hougang/Buangkok/Sengkang/Punggol.

By now, the increase in rent as requested by LL is close to 30% from what we had in the last lease of 3.5k 3 bedder.

Just look at the SRX Rental Index or the actual transactions for your development on URA to get a sense of where things are transacting. +30% from late-2021 would not be unreasonable, and may even show signs of a moderating market.

True, though it's still a tough pill to swallow, especially because salaries have not all risen proportionately.

[abbby]

Seems like a lot of vacant units everywhere now..? Where are all the expats?

[sundaymorningstaple]

Getting out of Dodge!

[jalanjalan]

Seems like a lot of vacant units everywhere now..? Where are all the expats?

commuting from jb lor

[Lisafuller]

Seems like a lot of vacant units everywhere now..? Where are all the expats?

Many have left after COVID, the pandemic was really eye opening for most. Many reevaluated their priorities, and decided the space/lifestyle was not for them.

[Lisafuller]

Seems like a lot of vacant units everywhere now..? Where are all the expats?

commuting from jb lor

Or Batam, apparently!

[Wd40]

Yet most landlords are holding on to the high rents. I expect slow drift downwards. Trying to rent now is going to be quite frustrating because you see many vacant houses but agents refusing to reduce the asking rental.