Singapore's Property Rental Market "REDICULOUS"!!!

WHATODO SG

What do you people think of the current property rental market?

I rented a 3 bedrooms condo at bukit batok 2 years ago for $1300 and now the landlord is asking $2500 for it! That is like nearly double! Mad

I know its the current market price and I really dont mind paying that amount but I dont even have a 100% pay rise! Crying or Very sad

So what do you people honestly think and what do you think will happend after 2 years (increase another 100%)???

Updates
Now getting really rediculuos! Read straits times today (25 July 2007), 3 bedroom HDB at Jurong East renting for $2,500 per month! So I guess this is the new trend???

Now I guess condo will raise it even higher???

monkeybusiness SG

is property market experiencing a bubble at the current moment?

WHATODO SG

I should think so, but regardless of bubble, landlord are scaring their tenants away with 100% increase in rental Sad

AndrewPKYap SG

Anything good for the rich... the dishonorable dictators do not care even if the majority suffers for it...

Property Prices Rise at our expense

and after the damage is done, they come out and say some soothing words to "prove" that they are not corrupt....

Check spike in office, property prices or lose competitiveness: MM Lee

What happened to "prevention"? or were they too stupid to foresee it when I foresaw it in... in May 2006, more than one year ago? (see first link above): posted at 02:27:06 on 05/09/06 by Andrew PK Yap - Category: Columns
Rolling Eyes

crazy monkey SG

downgrade to HDB.

fymk SG

Why are you complaining when you are renting a condo? If it is a HDB 3 bed room flat and the landlord is asking 2500 dollars for it , then I will sympathise with your position.

Like what crazy monkey says downgrade to a HDB rental.

FocusPoint SG

Some of these renters after having a taste of condo life refuse to give up the luxury that comes with it like the 'wimming poo', the 'jim', la 'tenis court, 'de sauna'. Laughing HDB where got all this facilities.

That reminds me it's about time to increase rent on my renter

laurence82 SG

tenants

landlords

dracky SG

3 bedroom condo for $1300 is too cheap a deal to be sustainable. I rent a HDB 5 room for $1200 in Sembawang. TS can look in that area if interested.

gerrykoh SG

Let the market decide. Those who cannot afford, downgrade to HDB or go back to their home country (for foreigners).

The landlord might be asking very high price but he will have to reduce if no takers.

Anyway the rental market has been poor last few years, now economy is better, it is only right they increase cos owners also have to pay bank loans

dreamykite SG

I ask about the price of 3 bedroom (rental), the agt told me $4000 worse than yours

WHATODO SG

So I guess 100% increase in rent is ok for eveyone here? Cause it seems that, either it is HDB or Condo the rental price has increase to 100%.

Is our current salary really match to the current property prices (rental and owning a house)? Are we all going to be slave to the property and no savings?

mistyblue SG

Buy loh.

Fatum SG

lau lee has spoken .... it'll come down soon ... Laughing

WHATODO SG

Lau Lee?

ShutterBug SG

Didn't GCT said recently that property is still affordable to locals??

Mr. Green

WHATODO SG

Yes, affordable for the 'Rich' locals (minority) and not for the 'normal' locals (majority).

ShutterBug SG

... and that's probably what GCT omitted in his statement...

lionnoisy SG

the interest or opportunity cost of say $600,000 for a
3 bed room flat say,5 % is $30,000.$2500 pm!

Pl pity the landlord.He has to pay $2 to 300 maintenance plus
$70 to 150 property tax.

How much net profit he get ?

2.Dunt expect any one to subsidy your housing.

Melvin Tan SG

Hi,

$1,300 per month for rental of three-room condominium is a good bargain even by standards 2 years ago. One would probably be able to obtain that price only 8 years ago. $1,600 to $1,800 (from my estimation) would have been what it was worth 2 years back.

The steep increase in rental is due to two reasons. One, as I believe you would already have guessed, is the hike in property prices.

The second is the influx of wealthy foreign apartment-rent hunters.

The landlord probably decided to go market rate and you have my sympathies.

Regards