Rental Increases?!!?! :(

Discuss about where to live, renting a property, tenancy issues, property trend and property investment in Singapore.
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pixel8
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Post by pixel8 » Fri, 05 Sep 2008 9:31 am

Houses only?

I was thinking condos and flats would be more in the supply > demand equation

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frenzal
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Post by frenzal » Fri, 05 Sep 2008 2:43 pm

pixel8 wrote:Houses only?

I was thinking condos and flats would be more in the supply > demand equation
Houses = apartments + flats in singapore. the terms are used interchangeably

seletargates
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Re: "Expat season"

Post by seletargates » Tue, 16 Sep 2008 6:13 am

cooberpedy wrote:My agent tells me rents are likely to start increasing (albeit marginally) mid-June onwards. He said June to September is roughly the expat season - ie, the time most new expats come into Singapore.

Any truth in this statement?
Anyone know if this has been the case, now that we are in the rear end of Sept?

andy21
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Post by andy21 » Tue, 16 Sep 2008 10:34 am

I am no expert on rental prices, but what I do know is that a 1200sqf 3-br unit on the 18th floor of my parents private apartment was rented out about 4 months ago for $3800 per month, and in Saturday's paper, the exact same sort of unit (although I cannot be certain which floor this one is on) is asking for $3300, which is a very very substantial difference in a space of 4 months.

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Post by Currymeister » Tue, 16 Sep 2008 12:54 pm

andy21 wrote:I am no expert on rental prices, but what I do know is that a 1200sqf 3-br unit on the 18th floor of my parents private apartment was rented out about 4 months ago for $3800 per month, and in Saturday's paper, the exact same sort of unit (although I cannot be certain which floor this one is on) is asking for $3300, which is a very very substantial difference in a space of 4 months.
Where is that Andy? Have a friend looking at the moment.

inselaffen
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Post by inselaffen » Tue, 16 Sep 2008 3:24 pm

its strange that the general concensus is that rents are falling yet the rents in the adverts in this site seem to be going up.

was looking at some east coast apartments which were up for 4000 a few weeks ago and now they are asking over 5000. Crazy.

andy21
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Post by andy21 » Wed, 17 Sep 2008 1:37 pm

Currymeister wrote:Where is that Andy? Have a friend looking at the moment.
Check your PM Curry.

frenzal
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Post by frenzal » Wed, 17 Sep 2008 3:44 pm

inselaffen wrote:its strange that the general concensus is that rents are falling yet the rents in the adverts in this site seem to be going up.

was looking at some east coast apartments which were up for 4000 a few weeks ago and now they are asking over 5000. Crazy.
that trend may not be generalisable. on quite a few sites housing has become quite affordable. for example, I could rent a 2 bedroom HDB for less than $2k in ang mo kio. This was unfathomable before.

inselaffen
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Post by inselaffen » Wed, 17 Sep 2008 4:46 pm

think its more a case of some LandLords trying it on!
they will have to drop their prices closer to when the apartments in question become vacant.

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Post by ScoobyDoes » Thu, 18 Sep 2008 11:03 am

I've started to keep an eye on rentals in my condo and whilst i've seen some ads at prices they were a couple of months ago most are dropping a few hundred dollars in the asking price.

Another 4-6months and we should be back at the level we rented at, just in time for renewal or moving.

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Post by CarBaby » Tue, 23 Sep 2008 2:12 am

ScoobyDoes wrote:I've started to keep an eye on rentals in my condo and whilst i've seen some ads at prices they were a couple of months ago most are dropping a few hundred dollars in the asking price.

Another 4-6months and we should be back at the level we rented at, just in time for renewal or moving.
those advertise for cheap rental in a good location is just to attract u to call them and will bring u to see that cheap rental and many more units. because u will not decide on the spot to take up that unit, when u get back to them, sorry unit rented out.... even u decide on the spot to rent.... there are many more excuss "not available"..... "call owner no answer" etc....

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ScoobyDoes
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Post by ScoobyDoes » Tue, 23 Sep 2008 12:14 pm

The location i am looking at (and live) is not regarded as a "good" location so if rental adverts have lower pricing......they have lower pricing.

Its not a con-job.

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Post by Jens » Tue, 30 Sep 2008 1:07 am

I signed a contract for a 2 bredroom condo in the west in Jan 07 for 1.4k over 2 years.
End of last year, same units were offered at 2.8k. Now a friend moved into the same condo, 3 bedroom for 2.8k.

My landlord said, the current asking price is 2.4-2.5k so they offer me 2.4k. I already told them that I cannot afford that. By end of the year I assume the prices will drop another 200 bucks and I know that they would want me to stay there...so I will start to bargain.

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Post by EADG » Thu, 02 Oct 2008 12:50 am

I can personally attest that rents have already come down and seem to continue to do so, have been carefully researching the last 3 months, and, renewed my place armed with that information for a very good deal.

They are of course higher than 2 years ago, but have fallen off the the peak and have not stopped dropping, and, from what what I could see, there is quite a bit of availability out there. It's a renter's market.

Don't believe what's on the internet, those are the bid prices, you never see the prices people actually pay, unless you get it word of mouth, and there's nowhere I know where actuals are available.

Do your research, and network with people in the places you are interested in living.
Ape Shall Not Kill Ape

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Post by apservice » Thu, 02 Oct 2008 5:51 am

a 5 room flat rental at $1800-$2400..in Sembawang...so staying further from the CBD is a good idea, afterall, transportation in Singapore is good.

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