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Rental Housing Trends and Venacular

Discuss about where to live, renting a property, tenancy issues, property trend and property investment in Singapore.
ivysmom
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Rental Housing Trends and Venacular

Postby ivysmom » Mon, 01 Apr 2013 12:30 pm

We are considering 2 years in Singapore and have been trolling this site (almost excessively!) I think I have a decent sense of listed prices in certain areas. My questions relate to the rental housing market right now -- is it ultra-competitive, soft, what are the dynamics? I know they're changing the tax for foreign purchasers, do people anticipate that will make the rental market more competitive or drive people away from Singapore? And on ., prices will sometimes say "negotiable", "guide price", "minimum", etc., what the distinctions among those terms and is there typically room on price (and if so, how much...i'm sure it varies tremendously but if there's any benchmark at all?). If it makes any difference, we'd probably be looking at a 4 bedroom condo on east coast or District 10.

Hoping someone can get me some current information. Many thanks!

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JR8
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Postby JR8 » Mon, 01 Apr 2013 1:27 pm

My advice. Get a good agent. Don't over-think it (you write like a broker hehehe)

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Postby offshoreoildude » Mon, 01 Apr 2013 4:34 pm

+1 hire a buyers broker (via a comm) to find a place for a price.
Now I'm called PNGMK

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Postby ivysmom » Mon, 01 Apr 2013 11:01 pm

Ah, good advice I'm sure. I have just read so many stories where it seems like buyers' agents don't really work for you, makes me nervous. Funny that after only one posting you can tell I tend to overthink :D ...you can imagine how much my head is spinning thinking about a move to Singapore (though in a good way).

Thanks for the input. Will search the site for tips on finding a great agent.

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Postby Smog » Tue, 02 Apr 2013 10:50 pm

I'm very much in the same boat.... probable two-year assignment starting in summer and will need to find a rental property close to the kids school.

I've also been trawling the site for info over the past few months, but like you find the specifics of renting a little confusing.

I could just contact the seller's agents directly from listings but in this case I assume I wouldn't be paying the agent fee. It would be a little more hassle, but it's not like we're searching the whole of Singapore, just a 3km radius of the school. I see a lot of property available, granted some might be repeat listings but I was thinking start at 20% discount and negotiate from there.

As for "hiring" an agent to find suitable properties for me... it may be a lot easier but there are literally thousands of these guys... I've not seen anywhere that reviews them effectively. What do they charge commission-wise ? 1 months rent (at the asked for rate, not the negotiated rate) ?

Sorry for hijacking the thread !

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Postby ivysmom » Wed, 03 Apr 2013 12:10 am

Hijack away, I clearly have the same questions! We are doubly confused b/c we still need to do look/see to pick a school so our housing search isn't very focused yet. Have you picked a school, Smog? Always looking to freeride on people's recent search...so much info you find isn't current. Our kids are 8, 6 and 2. We are American but probably more interested in IB -- they currently attend a small progressive private in the US which doesn't use standard US curriculum anyway.

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Postby JR8 » Wed, 03 Apr 2013 12:38 am

Here's the thing, this forum is hosted free of charge. That means (reasonably enough) that forum members are restricted in being able to publicly recommend other realtors from other companies.

I was looking at the Advertise/Contact/About tabs, but for the life of me can't find out what our host's company is called. Seems strange. DAK? Or is it a general portal for multiple agents? In which case is PM'ing someone with my agents details allowed?

I know we don't want agents here spamming, but are PM'd word-of mouth recommendations OK?

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Postby sundaymorningstaple » Wed, 03 Apr 2013 6:47 am

What goes on via PM, as long is it's not spamming regulars with unasked for information, is not any of our business. But open recommendations via the board are verboten for the obvious reason. We don't allow honda and toyota dealers on our merc/beemer showroom floor or parking lot. Which is fair, I'd say.

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Postby Landlocked » Wed, 03 Apr 2013 9:22 am

We too are moving this summer from the states with kids 10, 8 and 6 and troll this site to glean any bit of information we can on schools and housing. We are flying over next week to take a look at schools and an first look at housing. We won't know where we are going to live until schools are decided but at least we can get a sense of neighborhoods/buildings and what you can get for your money. It would great to PM but apparently I have not used the forum enough for me to do so. Can you PM me your email address?

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Postby Landlocked » Wed, 03 Apr 2013 10:39 am

Ivysmom - I received you PM but can you resend with your email so I can contact you directly?

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Postby sundaymorningstaple » Wed, 03 Apr 2013 2:04 pm

YOu can contact directly via PM now.

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Postby Smog » Wed, 03 Apr 2013 2:58 pm

We have picked a school.... not that we had much choice... our kids are following the French curriculum and there is only one French school... I hope they get a place otherwise we're in trouble. As a result we'll be in districts 19/20/28.

I understand the restrictions on agent recommendations... it's a shame but I'll just have to google harder !

Can anyone provide me a clue on what they charge if I was to hire one ?

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Postby Hannieroo » Thu, 04 Apr 2013 9:08 am

If your rent is below SGD 2500 then you pay half a month's rent for a year lease and a full month for a 2 year lease.

If your rent is over SGD2500 then you pay nothing, the landlord pays his agent half and your agent half. Some agents will advertise that they don't charge tenants and they negotiate that all electrical problems such as AC are fixed for free in the first month but that is standard.

It is against the law for an agent to represent the LL and the tenant. What you find here is that a property is advertised many times, once by the landlord's agent and then by anyone who feels like it. If you call them they will set up an appt and go with you and sort of just appoint themselves your agent. AFAIK it is illegal for somebody who advertises in this way to refuse to give you the LL's direct contact.

We've done a few moves, with and without agents. Here we had the option of using one that the company preferred. He's ok but not fantastic and the way it works here unlike the states or UK you keep your agent for the entire contract. If we have problems with the house ( a window fell out, the kitchen collapsed from damp, water heater exploded) both of the agents trek down, have a look and the LL's agent organises repairs. Not all of the contractors we have had in speak English so having the agents here has helped.

As far as school and houses go, if you need to use the bus don't assume that close means a short bus ride. Our house is 4km from the school but because of the bus route (small bus, only 8 pick ups) they wanted to pick up our 14 and 5 year olds at 6.45am for an 8.20 start. I think most of the buses are run by the same company and if you ask they will give you a route, a map and estimated pick up/drop off before you sign for a house. Kicking myself on that one.

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Postby ivysmom » Thu, 04 Apr 2013 11:23 am

Super helpful post, Hannieroo, thanks for that!

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Postby freshmeat » Thu, 04 Apr 2013 12:11 pm

Hannieroo,

How did you ensure your company's preferred agent get the best deal for you? It seems a bit of conflict of interest to me with the landlord paying for the commission.

Thanks


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