Rental prices still going down?

[PisceanM]

your telling, i have been in my appratment for nearly a year, just about to renew the lease, the landlord hits me up for a $950 increase..... what a cracker!

[piece of advice]

your telling, i have been in my appratment for nearly a year, just about to renew the lease, the landlord hits me up for a $950 increase..... what a cracker!

Hehe I think you'd better get out of there, you don't want to be dealing with these kind of people. There are masses of empty units available and your LL will be sitting without a tenant for 6 months 

[Sigh]

Same old whinges..

If a $950 increase is reasonable and you can afford it , then suck it up and stop complaining. If it isn't and you think you can find something cheaper elsewhere, then just prove the LL wrong and move to the somewhere cheaper elsehwere and stop complaining. 

[Stop dreaming]

your telling, i have been in my appratment for nearly a year, just about to renew the lease, the landlord hits me up for a $950 increase..... what a cracker!

Hehe I think you'd better get out of there, you don't want to be dealing with these kind of people. There are masses of empty units available and your LL will be sitting without a tenant for 6 months 

Stop dreaming. Despite a larger number of new units coming into the market, rents are still tending upwards. Rents have increased at least 30% over the past one year. So depending on the base rent, $950 increase might be reasonable. The LL is not going to take a risk of asking a $950 increase in rent unless he is sure he can get a another tenant to pay this higher rent. My studio which was rented out for 2.5k a year ago can easily fetch 3.3 - 3.5k today.

[We're not dreaming]

ASIA MARKETS
Sept. 3, 2010, 12:35 a.m.   
Singapore property curbs may bit into banks' growth

HONG KONG (MarketWatch) -- The biting restrictions that Singapore introduced earlier this week to cool the city's property prices will likely affect credit growth at the city's lenders and restrict their share gains.

The prospect of low interest rates in the U.S., to which the Singapore's interest rates are linked, and an expected slowdown in the city-state's economic growth during the second half of this year through 2011 might keep the lenders' net interest rate margins and earnings growth rates also pressured, say analysts.

"Despite record [first half] profits, we believe that banks will underperform as earnings headwinds mount and growth expectations moderate into [2011]," Citigroup analyst Robert Kong wrote in a report released Friday.

"Slower [second half] GDP growth, net interest margin picture and rising costs offset fee recovery and cycle-low provisions. The current surge in mortgage growth should slow sharply in [2011] as property measures take hold," he said.


The brokerage downgraded Oversea-Chinese Banking Corp. and United Overseas Bank Ltd. to sell from buy, while lowering its call on DBS Group Holdings Ltd. to hold from buy. Citi also cut its price targets for all three banks.

The Singapore government Monday announced a fresh set of measures to prevent a property bubble in the city-state, saying it would increase the down payment on purchases of second-homes and extended government duties on properties sold within three years.

National Development Minister Mah Bow Tan warned that the unsustainable price gains could have consequences. "When the bubble bursts, not if, there will be severe implications for individuals as well as for the economy as a whole," Mah said.

Barclays's regional economist Wai Ho Leong said the Singapore government's measures were "prudential" and motivated by concerns of deteriorating housing affordability.

"Coupled with the record pipeline of residential units that are planned or under construction, as well as the rising global economic uncertainties, we maintain that the risks for property prices and rents over the next four years are to the downside," the Barclays economist said.

[Utter rubbish]

No they aren't, keep dreaming. Rents are up this year but less than half what you think.

your telling, i have been in my appratment for nearly a year, just about to renew the lease, the landlord hits me up for a $950 increase..... what a cracker!

Hehe I think you'd better get out of there, you don't want to be dealing with these kind of people. There are masses of empty units available and your LL will be sitting without a tenant for 6 months 

Stop dreaming. Despite a larger number of new units coming into the market, rents are still tending upwards. Rents have increased at least 30% over the past one year. So depending on the base rent, $950 increase might be reasonable. The LL is not going to take a risk of asking a $950 increase in rent unless he is sure he can get a another tenant to pay this higher rent. My studio which was rented out for 2.5k a year ago can easily fetch 3.3 - 3.5k today.

[piece of advice]

PP is right, last year we were still around zero territory and this year Q1 and Q2 about 5 per cent rental increase, so we are looking at maximum 10 per cent increase.

Personally I would not agree to pay anything more in the market like this, unless I get something newer and closer to the city.

[the sad thing is]

Classic bubble waiting to burst.

[Pepito]

Last week the Singapore government did 2 things. 1) Reaffirmed the need to have foreigners working here and 2) Introduced measures to control the property market - in particular restrictions on private property and HDB ownership. This means that demand for private property purchase will reduce (and prices will fall in the short term), but that rental demand will continue to increase.  This does not seem like a recipe for falling rents

[DRM]

When you do any analysis, assessment, evaluation or projection
of this place, please bear in mind this is a money-driven
society that you are in. Everything revolves around the dollar.
You see the dollar sign all over the place. At the first
opportunity, pricings will always be inclined towards the
upward trend. It's money, money, money and still more money! 

[Rents on the way up]

Last week the Singapore government did 2 things. 1) Reaffirmed the need to have foreigners working here and 2) Introduced measures to control the property market - in particular restrictions on private property and HDB ownership. This means that demand for private property purchase will reduce (and prices will fall in the short term), but that rental demand will continue to increase.  This does not seem like a recipe for falling rents

The latest rules will only end up increasing HDB rents which in turn will put pressure on the mass market - mid end condo rents.

Additional 2 more years stay(from 3 to 5 years) before one can rent out his HDB flat.
PRs with properties overseas can't buy an HDB flat and will continue renting.
Private property owners who used to buy HDB flats to rent out can no longer do so. This constituted around 10% of all HDB purchases.

This can only mean reduced supply of HDB apts for rent. If economy remains strong, the conclusion is quite obvious.

[Hypocrite]

When you do any analysis, assessment, evaluation or projection
of this place, please bear in mind this is a money-driven
society that you are in. Everything revolves around the dollar.
You see the dollar sign all over the place. At the first
opportunity, pricings will always be inclined towards the
upward trend. It's money, money, money and still more money! 

If not for money, then why are you stuck in this country? All expats here on a charitable mission?

Stop being an hypocrite.

[percentages]

your telling, i have been in my appratment for nearly a year, just about to renew the lease, the landlord hits me up for a $950 increase..... what a cracker!

What was your previous monthly rent?  $25,000 or $2,500? - that $950 will make hardly a dent to the former and a lot of difference to the latter.

[oh whatever]

To keep the bulls happy (and the bears) get some facts.

Rents are up, maybe 10% (nowhere near 3c%)but are moving sideways.

They are still way under 2-3 years ago and won't get there anytime soon.

New rules mean buying is harder, in theory rents go up.  This is proven in places like uk but it is a totally different market so we shall see. Same time loads of supply and expat deals are dead so it goes down. What happens, who the hell knows.

[old timer]

Last week the Singapore government did 2 things. 1) Reaffirmed the need to have foreigners working here and 2) Introduced measures to control the property market - in particular restrictions on private property and HDB ownership. This means that demand for private property purchase will reduce (and prices will fall in the short term), but that rental demand will continue to increase.  This does not seem like a recipe for falling rents

1) The foreigners that come to work here are staying at dormitories or 6 per HDB unit. On the other hand expat packages are getting less and less. 2) Yes prices will fall but the supply in pipeline will remain huge for the next 2 to 3 years (as locals have been 'snapping up' private property). The rental market will remain soft for 3 years minimum.

If the sales of new units stop totally now, then it might be different after 5 years.