Rental Prices keep going up?

[frenzal]

I seem to recall a short period when rental prices remained flat (around March-April this year). Is it just me, or have prices shot up in the last few months again?

It seems that common rooms are now approaching the 1K mark :s

[frenzal]

bump. could anyone share their insights?

[durain]

landlord still asking silly prices but tenants are not paying the asking prices. so is that down, flat or up?

[frenzal]

well, that to me is flat, but the classified suggest otherwise.

[durain]

but the price in classified is probably not a price a tenant will be paying!

[Icemocha]

Asking prices are asking prices. Do you buy a house or rent a unit based on asking price? Of course not.

On the other hand, rental prices should goes up for the next few months as there are many TOP and these owners cannot afford to lower their rent. Some people will pay those prices and it will cause owners of older units to raise their rental.

A friend I know just rented out 2 common rooms in her 4 rm HDB at $900 each. That flat is more than 25 yrs old. It's a crazy world.

[bruinbear]

$900/room in a 4rm HDB flat? Is the flat located in a very good location near MRT station?

[Icemocha]

3-4 mins walk to Toa Payoh MRT.

[RULDS]

This might just be me but I think prices are still inflating however the landlords are more willing to negotiate.

I just put a deposit on an apt. this weekend and I negotiated the rent down and the agents fee.

But it all depends on the landlord , and in my case, if the land lord likes you.

[ar1923]

Prices are falling.

I just moved to a 3room HDB flat at ToaPayoh Lorong 1, 3 mins walk to Braddell MRT for S$1.9K. Landlord was asking S$2.1K.

The flat is fully furnished (no TV) with IKEA furniture, fully airconditioned and renovated.

Landlord was kind, he asked me to sign a year lease as he forsees rental to be falling next year.

[besito]

Just rented a common room in a 3bedroom condo. 5 to 8 mins walk to eunos mrt. SGD800 inclusive of internet and pub.

[Icemocha]

Wow! That's a nice landlord you've got. Maybe you can consider buying a TV and leave it with the unit when you leave. LOL

[ksl]

Prices are falling.

I just moved to a 3room HDB flat at ToaPayoh Lorong 1, 3 mins walk to Braddell MRT for S$1.9K. Landlord was asking S$2.1K.

The flat is fully furnished (no TV) with IKEA furniture, fully airconditioned and renovated.

Landlord was kind, he asked me to sign a year lease as he forsees rental to be falling next year.

2.1k for HDB is the city rate, Landlord was clever not kind, 1.9 is borderline, there are places 3 rooms for 1800, and even less if patient, what one must think about is, how old is the place, and how long have the people owned it.

A good indication of how much they have paid for the place, and if the mortgage is outstanding or not, lets say it was a one owner, that purchased the place 25 years ago, cost maybe 50k now paid for, Okay if they are business minded, they will be aware of the market price, if they are not business minded, they may well not be greedy, and just want to rent out for extra income... Today a loan with 20% deposit may leave for example a mortgage payment of 1300 to 1800 a month depending on price of course, although if the house is already paid off..and they are not greedy, I would suspect one could score a good 3 bedroom apartment for 1300$ to 1500$ without any real problem if the original owner has had it over 25 years and not really business savvy or greedy. But there again, this is Singapore but they are out there, you just have to know how to bargain and when happy with the price go for a longer contract if possible!

Although our dump, when i first arrived was 1500 sq ft, for 800$ in 2005, no kitchen, however I built it myself, and dismantled it when i moved too.

That is the way I would look at it. No point crying over spilt milk, if one pays too much, you just have to live with it.

[SKYLINE_WJ]

the market is at peak now,,hope by end of 2008 can go down...haixx

[Icemocha]

Rental should drop by then, there are many TOP later part of the year and early next year. However, if MOM decide to grant more EPs to boost the economy, we are really at their mercy.