$6K not enough, is it true?

Discuss about where to live, renting a property, tenancy issues, property trend and property investment in Singapore.
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teck21
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Post by teck21 » Mon, 21 Jun 2010 10:13 am

Check out
http://www.ura.gov.sg/realEstateWeb/rea ... roller.jpf

Rental values for private condominium dwellings in the last quarter based on developments with at least 10 contracts signed for that quarter.

Should give you a good idea of what to expect for these (and nearby developments). Anyone quote you anything that deviates too much from the above, give them a very sound piece of your mind. But then again, most agents are so thick-skinned it will probably just wash off their backs.

Singapore Property Search

 

LindaJ
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Post by LindaJ » Fri, 24 Sep 2010 12:30 am

My family is house-hunting this weekend and our agent has assured that we are able to get a 1800 sq feet condo for budget of $5000 in the east. I am praying for the best……
Any tips that we should be looking out as I am really excited. Should we agree to take up the place that we like immediately or we should see as many as possible before deciding. I am just worried I might miss out on the one that I like. Is the take up rate for condos in Singapore really fast?

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durain
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Post by durain » Fri, 24 Sep 2010 12:47 am

view as much condo as you can. dont believe the agent telling you there are people in a queue to rent it out!

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Post by Girl_Next_Door » Fri, 24 Sep 2010 10:19 am

You might want to use a few agents as well. With $5K, you might even be able to get a house or cluster housing.

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Post by beppi » Fri, 24 Sep 2010 10:33 am

LindaJ wrote:Should we agree to take up the place that we like immediately or we should see as many as possible before deciding.
A major decision, like selecting a place that you will spend a big portion of your time in for years to come, should never be rushed. See as many options as possible, sleep over it, discuss it with your family and then make a decision!
If an agent or owner tries to push you into accepting, it is almost always NOT because other candidates are waiting (in that case there would be no need for them to push), but because they are afraid if you don't accept on the spot you'll see a better place and they lose a customer.
Keep in mind that many Singapore property agents are dishonest, and the rest is doing it primarily for their own profit, not for your benefit.

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sundaymorningstaple
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Post by sundaymorningstaple » Fri, 24 Sep 2010 12:08 pm

beppi wrote: Keep in mind that many Singapore property agents are dishonest, and the rest is doing it primarily for their own profit, not for your benefit.
Boy is THAT an understatement! :lol:
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

LindaJ
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Post by LindaJ » Sun, 26 Sep 2010 11:17 pm

Thank you for the advices! My family viewed many properties this weekend- Melvile park, Simei green, Changi Rise condo, Savanah and many others. It is difficult to decide….. well… I guess there's no one place that really stands out. I heard from some friends that the area Simei is relatively suburb (somehow quite far from city), though I think it only took us no more than half an hour to reach the Plaza Singapore in the city by taxi today. The agents suggested East Coast or Tangong Rhu area. Is it a better choice and are there better amentities in those areas? Your advise is appreciated and helpful.

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Post by ksl » Mon, 27 Sep 2010 12:50 pm

LindaJ wrote:Thank you for the advices! My family viewed many properties this weekend- Melvile park, Simei green, Changi Rise condo, Savanah and many others. It is difficult to decide….. well… I guess there's no one place that really stands out. I heard from some friends that the area Simei is relatively suburb (somehow quite far from city), though I think it only took us no more than half an hour to reach the Plaza Singapore in the city by taxi today. The agents suggested East Coast or Tangong Rhu area. Is it a better choice and are there better amentities in those areas? Your advise is appreciated and helpful.
East coast is better for the park area with lots of foody place's, around katong area, some of the older condo's are quite cheap, I know between 2 and 3K with swimming pools. no mrt though only bus.

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Post by iamrubyvernon » Mon, 27 Sep 2010 5:05 pm

6k is more than enough to find a 3-bed apartment in a newish condo with facilities. Personally, I don't like the West Coast or the East Coast, but then I don't have kids. Take a look around Mt Faber, Tiong Bahru, Alexandra, River Valley, Tanjong Rhu, Little India, Novena. Am sure you'll find something there. Way more central.

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Post by thismyvoice » Wed, 29 Sep 2010 12:26 am

Tanjong Rhu is pretty nice. However, don't think there are many bus services in the area. You will need to drive or take cab or walk a distance to MRT station at Stadium (circle line). Some of the condos may have regular bus services to MRT station in the morning. There is a golf driving range nearby with a decent cafe. Other than that, I believe there are no other food outlet in the immediate vicinity. Need to go to Leisure Drome shopping centre to get a food court.

Yeah problem with East Coast is that it has no MRT. Plenty of good food in the area. There is also the beach.

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Post by longstebe » Wed, 29 Sep 2010 6:10 am

ksl wrote:Everyone should e more cautious in quoting high rental budgets.
With only 6000 agents registered and over 35000 agents in Singapore, its pretty obvious many will be take for a ride. With the difference in rental split between Agent and Landlord.

Keep your exact budget a secret and just describe what you are looking for, within a lower price range, and work up slowly if the properties aren't suitable. You will have more control over what you want and the price you want to pay.

A rogue agent may just offer you a 3500$ property for 6K and if you like the property, you will probably pay with no questions asked.

So you have to be just as shrewed as the agents. Keep your exact budget to yourself working on the lowest condo price range first to see what is offered!
Many older units are very cheap I have seen some at 2500 The new condo's are of course within the top end of price to Sq mtr, though prices are at a low with many empty units.

It is a tenants market, now there are restrictions on foreign expatriates allowed to work in Singapore, so use the information to bargain down the price, only works if you have the time to look around.

Crusoe yes its feasible for 2 Bedroom local HDB apartments!
Any ideas on where to look for a reputable agent?
What about our own expat forum??????

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Post by BigSis » Wed, 29 Sep 2010 12:14 pm

$6K is plenty - we were looking recently and our budget was $4K and there was enough choice in that bracket for a 3 bed place. We stayed where we were in the end (negotiated with the landlord), but it made me realise that there is a lot of choice out there but I think that the agents try to steer people towards what they consider 'expat condos' which are more expensive and mean more commission for them.

I've had plenty of agents over the years telling me that such and such a place is 'not an expat condo' - it's complete rubbish, what they're really saying is 'it's cheaper and I won't get paid as much'.

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Post by nakatago » Wed, 29 Sep 2010 12:25 pm

BigSis wrote:I've had plenty of agents over the years telling me that such and such a place is 'not an expat condo' - it's complete rubbish, what they're really saying is 'it's cheaper and I won't get paid as much'.

people are fixated on the wrong labels for the wrong reasons... :(
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Post by revhappy » Wed, 29 Sep 2010 3:30 pm

6k a month! Thats 144k gone down the drain for a 2 year lease. 140k is the 20% downpayment needed to buy a 2 bed condo that cost ~700k.

I would rather buy a condo here than pay that kind of rent.

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Post by UnexpectedAdventurer » Tue, 05 Oct 2010 4:03 pm

I visited a friend in Tanjong Rhu a few weeks ago and walked past a note posted on the door of a ground floor apartment saying "apartment for lease -- $4,800".

I think you should be able to find something much cheaper than $6k. I found househunting in Singapore very stressful, with real estate agents just not showing us what we wanted to see.

Good luck!

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