Junior
I am monitoring the rental asking price recently, and I am shocked to notice just in one week's time, the asking price has come down something like from S$3.5k to S$3k (15% down).
I am using ST Saturday paper as my information source. It tends to be more accurate and recent than Internet because people need to pay each time they advertise.
Is there a better way to find the rental trend?
URA data is too late and too general.
Thanks,
Richard
Senior
maybe you can use this as a pointer related to rental mkt...Originally Posted by richwang
my tenant(Indian PR) for my hdb rental flat recently terminated the tenancy....reason cited was that rental in spore is TOO X...he was paying me 2.2k rental...now he bought a 2 bedder resale OCR condo and his mortgage with 20% DP is $1.9k.....so if a few HUNDRED THOUSAND tenants start thinking like this....
Music of the night
In inflationary env, wealth transfers from lenders ie depositors to borrowers
Ride at your own risk !!!
Junior
I am also observing that most rental starts at 3 ~ 3.5k for 3 room OCR. Very rare to find something like 2.8k pc.
1m ppty with 3K, the net yield is 2.9%. Definitely, upcoming supply in ocr will hit rental income.
Junior
recently one amber 1300sqft 3bedders only manage to rent out at 4k+, tried for 5-6k market price. no takers
Senior
This show the rental Singaporean charge is too low, as a result the PR was able to save 20% and buy a 2 Bedder resale OCR condo. Can everyone start collecting this type of info for sharing, how long they need to save for the 20%. This way we know the rental is high or low.maybe you can use this as a pointer related to rental mkt...
my tenant(Indian PR) for my hdb rental flat recently terminated the tenancy....reason cited was that rental in spore is TOO X...he was paying me 2.2k rental...now he bought a 2 bedder resale OCR condo and his mortgage with 20% DP is $1.9k.....so if a few HUNDRED THOUSAND tenants start thinking like this....
Looking at the PR case, the resale is under price and got room to increase and the HDB rental is low and have room to increase. Huat Ah............
Senior
4+k for a 3 bedder in suburbia is not bad liao. One amber is suburbia to me. Plus there's no mrt in sight.
Global recession is coming....
Mmm, I thought it should be HDB rental for ZERO facilities asking too high & private properties too cheap since monthly instalment is less than HDB rental?
Senior
HDB rental too high then the PR will not be able to save enough to down 20%. HDB rental got room to increase and the PR is over pay compare to Singaporean.Mmm, I thought it should be HDB rental for ZERO facilities asking too high & private properties too cheap since monthly instalment is less than HDB rental?
Music of the night
It is the quantum, dude
SPRs just entered Singapore can only afford very old HDB resale not near MRT - 2k for Bedok
Later they move to near MRT 2.3k
Later they move to OCR MM or 1br condo near MRT 2.5k, this has much better privacy/facilities than 3r HDB but less 1 room and smaller
If they want to call Singapore home, then they buy resale HDB near MRT, again 3br or small 4br which is anytime 350-400k or they take the plunge to buy OCR resale condo X 2 the quantum depending on their risk apetite
How many can afford 5-6k rental in RCR or OCR?? You need a husband to earn 15k per month to pay 5k rental isn't it?? Again they might as well buy something if wanna pay that high rental.
Ride at your own risk !!!
probably not the only one
I was one of those who thought like this 6 years back. Never looked back since.maybe you can use this as a pointer related to rental mkt...
my tenant(Indian PR) for my hdb rental flat recently terminated the tenancy....reason cited was that rental in spore is TOO X...he was paying me 2.2k rental...now he bought a 2 bedder resale OCR condo and his mortgage with 20% DP is $1.9k.....so if a few HUNDRED THOUSAND tenants start thinking like this....
Does this mean that, landlords can only find business in transient tenants? Anybody who stayed a year or more will find out how 'cheap' it is to stop renting and start buying your own property, esp when banks are so hungry for your biz now.
Senior
were u the PR the landlord the tenant...OR...The only gay in the village...
probably not the only one
I was a tenant paying only $700 for a spacious 3RM lock one room HDB.were u the PR the landlord the tenant
Junior
Rented out 4rm HDB for 5 years now, last rental 2.7k. Tenant moving out due to change job and location. Now best offer at about 2.6k from NRI. Take it? Will i meet mr. Nightmare!!! Decision time... Haha
Junior
Cool.. Now u upgrade to multi property owner...
Junior
Sometimes less 100-200 is still worth while. My Korean tenant take care of my house and never trouble me at all.
Senior
We are currently at a juncture where landlords thinks that rental market is still rising while tenants thinks that rental market is falling...
probably not the only one
Anyone can do it with two things. Luck and Guts.
probably not the only one
True that. Mine also no sound no picture, but when i spot check after one year, its like a dog den.
Office Boy
Agree!
Office Boy also can !
DKSG
probably not the only one
Mexican standoff.We are currently at a juncture where landlords thinks that rental market is still rising while tenants thinks that rental market is falling...
probably not the only one
But u already on the road to it right... With one under the belt.
Junior
Also need first pot of gold.
Junior
Previous PRC x3 professionals then Myanmar students and their guidance last 5 years also never disturb me... But now Indian PR leh so I am not sure to accept or not ???
Junior
Your tenants are from???True that. Mine also no sound no picture, but when i spot check after one year, its like a dog den.
probably not the only one
Land of rising sun.
Junior
Oh, tot they r not so bad n like tidy n clean place.
Newbie
tats why cannot simply judge ppl from nationality
Junior
its a family and wife not working. Hopefully it will not be as that you said!True that. Mine also no sound no picture, but when i spot check after one year, its like a dog den.
Junior
try harder and give yourself another chance.
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