Advice for accommodation bellow S$2k

[justinbridoux]

Hi,

So it's been a few weeks that I'm looking to moving to Singapore. I have a more precise idea thanks to this forum. I still have two questions, sorry ^^

1. Why don't most of the website listing condos to rent publish actual photos of inside said condo ? Most of the time there is no photos, and sometimes only some of the pool or gym.

2. What do you guys think about living in the North East ? I have a S$2k budget, and I don't really want luxury amenities, I just care about the condo itself, and being close to a station (in this case the NE line, ideally not more than 10 minutes away by walking.

So what would/could I get for S$2k 10mn or so away from a NE line station ?

Thanks,

[sundaymorningstaple]

Ahhem! Cough....cough.... Sorry.

You want what for how much?

You will almost be hard pressed to find an HDB for under 2K/mo. A condo? Extremely doubtful, if not impossible. If you are far enough away and the condo is old, you might find a 2 bedroom unit for 2.8K but that will be about the best you are going to do. $2.5? I probably wouldn't live in it on a dare.

[JR8]

So what would/could I get for S$2k 10mn or so away from a NE line station ?
Thanks,

Well it would certainly cover a room in a flatshare of an HDB, or indeed a condo. But you are very unlikely to get any whole condo for that anywhere on the island, and perhaps any whole HDB flat.




Edit to add: <<<<Echo>>>>

[justinbridoux]

damned... what can I get for S$2k then ?

[beppi]

A room, most likely.
Or, if you are lucky, an HDB - but certainly not within 10min of an MRT!

[justinbridoux]

I read here : http://gatewaysingapore.com/2012/04/cos ... -singapore

For a decent two-bedroom condominium in a relatively central area, you will pay around S$4000

So what would be the price of a one bedroom appartement further away from the center, but still close(ish) to the MRT ?

[beppi]

One bedroom units and studios are very rare and thus cost similar rent as two bedroom ones.
You can get a two bedroom condo further out from S$3000/month and an HDB for S$500-800 less than that.

[sundaymorningstaple]

At least the same price as one bedroom apartments are as scarce as hen's teeth. The are not practical for growing families so, pragmatic as the local builders are, they only cram a couple in the complex to fill out some small nook not big enough for at 2 or 3BR unitl. Therefore, Singles usually end up renting a 2 BR unit and sharing the other BR out for a suitable chunk of the rent.

[justinbridoux]

ahah ^^ crying a little inside... What would be your recommendation then ? Can I find a 2-bdr appartement for S$3k or less that is near transportation and not filled with rats ?

Thanks

[justinbridoux]

and also what is the typical rent over salary ratio then ? I based on 50/50 but would that mean that any person that live in a S$3k condo is making S$6k or more? I was told that software engineers gets about S$4k for starters

[sundaymorningstaple]

Try to keep it no more than 35% if at all possible.

Also, think HDB Flat. There is nothing wrong with them. In fact, mine will be fully paid for in around 17 months. I have no problem with living in it. It's not huge, but it is a 4 BR unit so it works fine with my large extended family. I've been in this unit for 13 years now.

You might have to look at a couple of dozen of 'em though as some are reasonably maintain, while others, well, you wouldn't keep a mongrel in 'em.

[beppi]

Rent-to-salary ratios are entirely misleading in Singapore, since locals don't rent: They buy HDBs (at government subsidised prices) and the rich have condos. Over 90% of locals own their abode.
Thus the rental market is almost solely for (usually well-paid) Expats. (The less well-paid foreigners rent rooms in shared flats or beds in dormitories.)

Software engineers fresh out of university earn below S$3000/month and stay with their parents (many even after getting married) until they can afford to buy an HDB.
Average household income is S$5400/month. You can't rent AND feed a family on that!

[sundaymorningstaple]

According to SingStat, now the median household income is closter to 7K, having risen dramatically in the past 2 or 3 years.

[Beyond_Redemption]

SMS, JR8 & Beppi
You folks obviously are very plugged in to the market situation, so I am a bit confused here !

I am currently outside SG and hoping to move there soon & according to my research on Craigslist and the HDB & URA Median Rentals info (which is obviously "business done" data - not the inflated expectations of brokers you see on most of the property sites) it seems that there are even many whole unit furnished condos (albeit 500 sq ft types) in Bishan / Hillview type areas that you can get around 1.5 K ! Even I was surprised

But then I notice that posters are VERY sloppy about clarifying whether the ad is for a room or the whole unit

But surely the HDB rental info for Q1 2012 seem to suggest mucho HDB whole units under 2K ? Almost can't believe it (of course these are Median # s)

So my Q for you ..SMS, JR8 & Beppi...is what am I missing? Just want to make sure I approach the research in the right way and don't get a nasty surprise on arrival!

[sundaymorningstaple]

As the reduction of foreigners continues, I expect to see a easing of the rental property market in the next 3 quarters. But how much is anybody's guess. A lot will depend on further anecdotal evidence on EP rejections and renewal rejections in the coming months. It wouldn't surprise me to see 4 room HDB's start going for 1.8~2K again.