Is December a busy rental demand month???

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queenie71
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Is December a busy rental demand month???

Post by queenie71 » Tue, 18 Aug 2009 7:28 pm

We are leaving Hong Kong and moving over to Singapore in December. Family of 4 and will leave after school finishes. Move will be 20 december ar just after.

Am thinking of coming over first week of December to look for house and hope to sign something to move in end December/beg January.

Am worried that we are moving at a time of high demand as many families with similar requirements may push up the rental prices.

Does anyone have experience of this? Better to come a bit earlier/late November???

For families leaving, do they tend to leave before Christmas or after??? Is there a trend at all?

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carolynW
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Post by carolynW » Tue, 18 Aug 2009 7:55 pm

Am not sure our experience is any annual trend, but we thought of moving over in dec of 2008, it was a slow month according to the estate agents. By the time we came after CNY, many landlords were holding out and it took me 50 viewings and 7 offers later to secure one in mid march.

One nice black and white that was up for bidding in dec drew very few bids and the people who moved in got it on the low side but i don't know if it was the hols or that post Lehman crash feeling. We didn't want to move in dec because of the year end hols then moving into CNY hols and thought the market may head a bit more south.

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Post by cbavasi » Tue, 18 Aug 2009 9:33 pm

We moved in the month of December from Jakarta and I would have to say it was no different then moving any other time of the year. (We've subsequently moved in the month of November & July). Everyone has a different opinion... as long as it's not Chinese New Year you should be ok!

Just note - best to get the TA signed by both parties, the checks all banked before you get on that plane - you don't want it to fall through after you've gone home (this does happen).

People will have already given their notice for end of Dec by end of Nov - so best to come 3 or 4 weeks prior to move in. Also, try and narrow down your search before you come and ask to see multiple units in complexes you like - amazing how they can differ!

queenie71
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Post by queenie71 » Tue, 18 Aug 2009 10:07 pm

Thanks for the feedback.

So, if people have given notice, are they obligated to allow in agents for viewings?

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jpatokal
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Post by jpatokal » Wed, 19 Aug 2009 11:22 am

queenie71 wrote:So, if people have given notice, are they obligated to allow in agents for viewings?
Check your contract -- if you've got the standard boilerplate, you're probably obliged to allow in agents at 3 AM in the morning with no prior notice, starting on the day you moved in! :o
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Post by goldeyeye » Thu, 20 Aug 2009 11:31 am

Hi Queenie71

My wife and I relocated to Singapore from Australia just after new year last year and managed to rent a house within days. I started researching in November 07 and there were plenty of houses available for rent in Dec.

I would recommend that you set your budget for rental per month, location, near amenities & transport etc. Once you walk into a house and if that house speaks to you, you know you have found the place:)

I've just got my Singapore PR last month and ventured into the real estate industry. I hope my experience will be able to help you settle in Singapore.

Take care and good luck.
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Post by m21vp » Wed, 02 Sep 2009 2:38 am

Hi Queenie71,

I'm from Canada and I think the rentals are about the same and the rates just differ depending on the economy and really irregardless of the time of year. Personally, Singapore's such a diverse city that people come and go all the time.


Just in case no one has informed you yet, for any place that you'd like to rent, you have to be prepared to pay at least "half a months rent" to an agent for commission. Half a month for a 1 year lease, and a full month for a 2 year lease to be exact. And, sadly, in Singapore, 98% of the ads you see are all posted by agents. For me, since you already know that you need to pay an agent, the key is to find a good one who won't just take the money and run. This can be a difficult task.


Luckily for you, you still have time and if you find the right one, they'll do most of the work for you. That is, they'll talk to you first to know your needs, and by the time you come to look in Dec., they'll have already arranged a few viewings for you. For example, the one I used for my place is amazing. He helped me negotiate the rent to what I could afford even though his commission was less and didn't waste my time in bringing me to look at a thousand places to find one I liked. In the end, I trusted him so much that I didn't even need to see the place because I knew he would get me exactly what I was looking for.

I hope this helps. Please feel free to get in touch if you have any more questions.

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Post by cbavasi » Wed, 02 Sep 2009 7:54 am

Just in case no one has informed you yet, for any place that you'd like to rent, you have to be prepared to pay at least "half a months rent" to an agent for commission. Half a month for a 1 year lease, and a full month for a 2 year lease to be exact. And, sadly, in Singapore, 98% of the ads you see are all posted by agents. For me, since you already know that you need to pay an agent, the key is to find a good one who won't just take the money and run. This can be a difficult task
This is only if the rental is below $2500 per month. If the rent is over the landlord picks up the commission. You will never be part of that discussion. If you are, find another agent.

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Post by jeensy » Wed, 02 Sep 2009 5:07 pm

Even when arguing the case about over $2.5k rent having no commission payable, most of the agents I dealt with recently refused to acknowledge this fact telling me it was old, and that the legislation has changed. They did however become more amenable to negotiation, but I agree that nearly all ads are written by agents and it seems nearly impossible to figure out which ones charge commission and which ones don't. It is probably something you need to bring up before you agree on any property to avoid any nasty surprises.

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