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Rental Prices Singapore

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ozchick
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Rental Prices Singapore

Postby ozchick » Wed, 23 Jan 2008 9:41 pm

Anyone got any inside info ? I've been told they're still moving slightly up, but others say no it's hit the peak and that staying where I am for a few months more may them make the move worthwhile....don't know how prices can be so high when there is accomm available all over the place here.
'Are you trying to tempt me because I come from the land of plenty?'

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Postby durain » Wed, 23 Jan 2008 11:45 pm

how long is a piece of string? :P

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Re: Rental Prices Sg

Postby ksl » Thu, 24 Jan 2008 12:15 am

ozchick wrote:Anyone got any inside info ? I've been told they're still moving slightly up, but others say no it's hit the peak and that staying where I am for a few months more may them make the move worthwhile....don't know how prices can be so high when there is accomm available all over the place here.


To be honest no one knows yet, because the statisics for rentals and purchasing are not released until Friday! So hang in there Ozchick... :wink:

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ozchick
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Re: Rental Prices Sg

Postby ozchick » Thu, 24 Jan 2008 10:13 am

ksl wrote:
ozchick wrote:Anyone got any inside info ? I've been told they're still moving slightly up, but others say no it's hit the peak and that staying where I am for a few months more may them make the move worthwhile....don't know how prices can be so high when there is accomm available all over the place here.


To be honest no one knows yet, because the statisics for rentals and purchasing are not released until Friday! So hang in there Ozchick... :wink:


Oh yeah ksl ? And how do you know this stuff ? Aren't you in London? What, are you bored ? :wink:
'Are you trying to tempt me because I come from the land of plenty?'

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Re: Rental Prices Sg

Postby ksl » Thu, 24 Jan 2008 10:54 am

ozchick wrote:
ksl wrote:
ozchick wrote:Anyone got any inside info ? I've been told they're still moving slightly up, but others say no it's hit the peak and that staying where I am for a few months more may them make the move worthwhile....don't know how prices can be so high when there is accomm available all over the place here.


To be honest no one knows yet, because the statisics for rentals and purchasing are not released until Friday! So hang in there Ozchick... :wink:


Oh yeah ksl ? And how do you know this stuff ? Aren't you in London? What, are you bored ? :wink:


I'm here in Singapore, actually I am doing a business plan, for the property rental industry, I may put the plan into action, if I'm happy with the feasibilty study.

I was reading the New Paper, and it stated the statistics would be released on Friday, I guess because everyone is so eager to know, even the Realtors, to see if the rental bubble is broken!

Personally I don't think so, because there is too much development going on in Singapore with the IR and the government plans to boost population by 2 million more people, will push the prices up further, and the F1 Racing will be starting too this year.

I really don't see prices dropping, although the last quarter results, will show if they are, I guess!

I must admit mature Lions do get bored, at times :wink:

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Postby Vino » Thu, 24 Jan 2008 10:22 pm

Some places for a condo is asking for $10k per month!!!

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Postby sundaymorningstaple » Thu, 24 Jan 2008 10:44 pm

Vino,

Bit out of date. Some are going for 18-24K.

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Postby ksl » Sat, 26 Jan 2008 1:11 am

Here you are Ozchick, the rental statistics for the last quarter! Some good news too! Although for how long, is another matter! You may have to follow other links to get more detailed information. I have what I need! :wink:

http://www.ura.gov.sg/pr/text/2008/pr08-12.html

Rental Index

http://www.ura.gov.sg/pr/graphics/2008/pr08-12a3b.pdf

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Postby sundaymorningstaple » Sat, 26 Jan 2008 9:51 am

ksl,

Excellent links. Also confirms what I already knew and have said here as well with regard to the rental prices slowing but still continuing to rise but at a more gradual rate. We also were not too far off the 50% increase in rentals. If it was 41% according to the figures for the years for private housing, they if you look at the areas that would be the most Expat friendly (from an exapts POV) in order to get that kind of overall rate they would have had to double in many cases.

While there is supply out there, there are underlying reasons why the rates are going up. The economy booming is the main one and that euphoria trickles down to the landlords so they elevate their prices accordingly. Also, with the increase of GST and the general inflation rate well above 4% the rentals are not going to come down anytime soon I'm afraid. When the cost of everything else goes up, they will up their prices so that they can afford the same lifestyle (kinda like everybody else yeah?)

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Postby ksl » Sat, 26 Jan 2008 1:26 pm

sundaymorningstaple wrote:ksl,

Excellent links. Also confirms what I already knew and have said here as well with regard to the rental prices slowing but still continuing to rise but at a more gradual rate. We also were not too far off the 50% increase in rentals. If it was 41% according to the figures for the years for private housing, they if you look at the areas that would be the most Expat friendly (from an exapts POV) in order to get that kind of overall rate they would have had to double in many cases.

While there is supply out there, there are underlying reasons why the rates are going up. The economy booming is the main one and that euphoria trickles down to the landlords so they elevate their prices accordingly. Also, with the increase of GST and the general inflation rate well above 4% the rentals are not going to come down anytime soon I'm afraid. When the cost of everything else goes up, they will up their prices so that they can afford the same lifestyle (kinda like everybody else yeah?)


Smack on SMS! There is not much hope of prices dropping, and the future suggest, a continued upswing.

The governments strategy to increase the population too, with talent, will also have a significant impact on property, combined with the IR,F1 and other projects, the overflow into the HDB area's, will rise too.

My guess is that it could rise the same again, before the casino's open! If not more!

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Postby ozchick » Sun, 27 Jan 2008 1:52 am

Will check that link ksl but reading between the lines there isn't a lot of point staying where I am methinks. One thing though, if I move, I better keep working to support my 'rental' habit...sigh... :-|
'Are you trying to tempt me because I come from the land of plenty?'

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Postby ksl » Sun, 27 Jan 2008 5:08 am

ozchick wrote:Will check that link ksl but reading between the lines there isn't a lot of point staying where I am methinks. One thing though, if I move, I better keep working to support my 'rental' habit...sigh... :-|


Yep afraid so, after our rent doubled in 2006, we decided to buy HDB, at least we will be saving rent money, even if they don't go up in price...
Are you in a condo?

You should consider renting HDB maybe! Get some place close to the sports complex & swimming pools, if you like swimming and working out. :wink:

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Help interpreting rental pricing

Postby yogini4life » Sun, 27 Jan 2008 12:04 pm

Hello all-
I am new, our family is relocating in the summer of 2008, and the rental pricing is a bit of a worry. I read the links provided, but it didn't offer me much useful information in regards to what to expect pricewise, just that it has increased significantly over the past year. Any help estimating would be greatly appreciated! Is it better to buy a house or rent one. We are planning to be there for about 3 years or so.
Thanks!

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Re: Help interpreting rental pricing

Postby sundaymorningstaple » Sun, 27 Jan 2008 2:54 pm

yogini4life wrote:Hello all-
I am new, our family is relocating in the summer of 2008, and the rental pricing is a bit of a worry. I read the links provided, but it didn't offer me much useful information in regards to what to expect pricewise, just that it has increased significantly over the past year. Any help estimating would be greatly appreciated! Is it better to buy a house or rent one. We are planning to be there for about 3 years or so.
Thanks!


Have a browse through the "Staying, Living in Singapore" Forum at the bottom of the index. Read through the relevant threads and you will by then have a very good idea of what & where. Also follow links to other threads and so forth.

Buying isn't really an option at the moment as you wouldn't want to buy at a peak (course we don't really know if it's the peak or not yet.) and then sell at a loss later when you have to leave (course you could always hold it for rental income like so many do).

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Postby ksl » Sun, 27 Jan 2008 3:17 pm

Renting is dead money!
3 years isn't very long!
Hassle involved in buying & selling V's Rental!
Where are prices at today High V's Low

Is the company paying the rental fee!

And anyother risk or benefit you can come up with!

Rental yields for Singapore are low.


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