Rents increased 30% in the last week??

Discuss about where to live, renting a property, tenancy issues, property trend and property investment in Singapore.
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huggybear
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Post by huggybear » Tue, 30 Jan 2007 7:10 am

don't know where ur coming from but if from the states...not sure if all ur furniture will fit...a queen size bed here is a bit smaller then a full size in the states (and a bit shorter)

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Grim Reaper
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Post by Grim Reaper » Tue, 30 Jan 2007 11:41 am

agents aren't compensated to make you pay more $$. their pay out rate is pretty pathetic...only $2,500 per transaction no matter what.
Oh I didn't realize that it was a flat rate. Good info Huggybear. Thx.[/quote]

Sorry to say, but it is bullshit.

There is no flat rate.

Comission is based on the duration of the tenancy agreement and the rental price. Do a search here and you will get the proper details.
Time will come....

Grim Reaper
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Post by Grim Reaper » Tue, 30 Jan 2007 11:43 am

sundaymorningstaple wrote:
Grim Reaper wrote:2200 sqft freestanding bungalow on a 4400 sqft property for 2.1K, prime area.

What's the fuzz?

As Bafana says, play it hard and know what you're doing.
Yeah but does the roof leak and have mozzie breeding/hiding places? :P Sorry, couldn't resist the small nudge..... :wink:
How come I am not surprised? :wink:

Repairs starting next week, that should finally solve the problem (we hope...). :D
Time will come....

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Post by travelbug_2007 » Tue, 30 Jan 2007 12:47 pm

And the best part? I'm paying 2700$ in an apartment surrounded by buildings charging 32-3600$ for worse accomodation (and I know because I viewed them). My wife says someone must've died in this apartment for them to charge us this low in comparison to the market. I say if someone died, I hope they went out well. The prices are still higher than Tokyo. Singapore is no Tokyo.
Mo Tokyo, your apartment sounds great. Would you mind telling me what development it is? Thx

Do you really find the prices here higher than Tokyo? My last posting was in Tokyo which I found horribly expensive.


don't know where ur coming from but if from the states...not sure if all ur furniture will fit...a queen size bed here is a bit smaller then a full size in the states (and a bit shorter)
hmmm.. have assortment of furniture picked up from different postings. King sized bed too. Hope it fits [-o<

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Makan24-7
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Post by Makan24-7 » Wed, 31 Jan 2007 7:52 am

Key question is when you all got your apartments... 2.2k sqft at 2.1k sounds like an agreement signed around Nov 2006 at latest.

Prior to Jan 1, 2007, the rental market hadn't spiralled out of control.. I did some looking in October/November 2006 and decided to wait till I came again in Jan 2007... By then, things had gone nuts. The newspaper report wasn't kidding.. Average of 24% increase in rental prices even in the outlying areas.

I looked at several areas right in town. Got outbid by people bidding over the asking price at least 3 times... Even my agent who provided advice on bidding lower and asking more from the landlord stopped doing that after being burnt for the 3rd time...

Just one example, 2bdrms partially furnished at Meraprime at Tiong Bahru MRT were going for 2.5k in Nov... same darn places are now asking for 3.5-4k and getting outbid... Geez...

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Post by huggybear » Wed, 31 Jan 2007 7:56 am

oops you're right i was mistaken.

if the rental price is above $2,500, the landlord pays the agent's fee.

apologies.

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sierra2469alpha
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Post by sierra2469alpha » Fri, 02 Mar 2007 8:41 am

MoTokyo wrote: Believe it or not, apartment # 18 was just right for us. 2BR - LDK - 3Bath, 1 stop from Orchard, raised ceilings, marble and hardwood floors, beautiful outdoor maintenance and an enormous pool in the secluded patio area. It's a 4 minute walk from the mrt, and management is superb. We took it after only one viewing.
Hi - which complex did you end up in, and which one did you say was awful? We're currently looking around this area also. Many thanks in advance, C & P !

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Post by ksl » Fri, 02 Mar 2007 1:07 pm

Just to cheer everyone up, rentals are predicted to rise by 60% in the next 18 month

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Post by germangirl » Fri, 02 Mar 2007 1:10 pm

ksl wrote:Just to cheer everyone up, rentals are predicted to rise by 60% in the next 18 month
you must be kidding !!!!! :shock: I remeber, last summer when i discussed my budget with my company we agreed on 1.5k and I thought it was a good deal... now I end up paying out of my own pocket and thought it is allready expensive.... 60% more is crazy !!!! :P
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Post by David91 » Sat, 03 Mar 2007 12:08 am

This condo thing is a completely different world from the HDB market where, in many parts of the island, resale values are falling and rents are either stable or showing only marginal increases. This instance on buying into condo status is disproportionately expensive for what you get for your money.

And, in the HDB market, property agents charge a percentage of the rent as their fee to both landlord and tenant. The percentage is usually 50% of one month's rent although this can be negotiable. Obviously, this gives both agents an incentive to get the highest possible rent so you need to do some research to establish rental benchmarks for each area. For 4 room flats, rents start around $1100 per month in the slightly more distant areas. 5 room and Executive Apartments start around $1300 per month.
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Post by huggybear » Sat, 03 Mar 2007 10:47 am

i think only districts 9 and 10 are sizzling hot (newton / orchard / etc)

the hinterlands and HDB flats are fine. u shud be fine if you don't mind a bit longer for your commute (maybe 15-20 min instead of 5 min).

but this is happening EVERYWHERE IN THE WORLD.

(that the chic / in places are getting bid up)

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Post by HunBunny80 » Mon, 05 Mar 2007 9:00 pm

MoTokyo, May I ask which condo do you live in now?

I was originally looking at Newton area due to its location. However, speaking to a few people and looking at prices around, I soon gave up.

You mention alot of good stuff around. How did you go about find apartments owned by developers rather than individual owners?

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Makan24-7
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Post by Makan24-7 » Thu, 08 Mar 2007 1:06 am

MoTokyo, when did you sign yr lease? the date is really important to know when you got into the market.

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Post by Florian » Wed, 14 Mar 2007 11:56 am

But you guys should always have in mind what comes along with the rental you are paying for your lovely condo apartments. I think an apartment with a pool and even a tennis court and gym plus gardener, security etc. would never be available in Europe for SGD 2.5k, would it?! :D

Go for HDB or standard apartments like the ones in your home country and prices are quite reasonable!

Stop complaining queens and kings!!!Dammit! :cool:

My friend wanted to extend his lease for another year last week and the landlord was asking for SGD 1.1k more than he has been paying for the last 3 years. I must admit it is a bit tough though...

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Post by huggybear » Wed, 14 Mar 2007 12:32 pm

yea...
umm...
people don't like here when you try to compare the costs of living in other countries to what it is here.

i guess you would have to compare the rate of inflation to the % increase in house prices and even consider % increase in your pay.

1.1k increase from what? if from 1.1k to 2.2k is a 100% increase...that's steep...if it's from 4k to 5.1k, then that's a 20% increase from three years ago...that doesn't sound so bad to me considering the explosive growth of housing in the: US, UK, Japan, Tokyo, Hong Kong, Seoul, etc.

but again i digress....

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