View Full Version : Rental Movements
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
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
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....:scared-1: :scared-1: :doh:
phantom_opera
10-06-12, 12:10
In inflationary env, wealth transfers from lenders ie depositors to borrowers
rattydrama
10-06-12, 12:44
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.
recently one amber 1300sqft 3bedders only manage to rent out at 4k+, tried for 5-6k market price. no takers
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....:scared-1: :scared-1: :doh:
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.
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............
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.
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? :beats-me-man:
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.
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............
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? :beats-me-man:
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.
phantom_opera
10-06-12, 13:35
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.
TheOnlyGayInTheVillage
10-06-12, 14:10
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....:scared-1: :scared-1: :doh:
I was one of those who thought like this 6 years back. Never looked back since.
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.
I was one of those who thought like this 6 years back. Never looked back since.
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.
were u the PR the landlord the tenant:confused:...OR...The only gay in the village...:D:D:D
TheOnlyGayInTheVillage
10-06-12, 15:32
were u the PR the landlord the tenant:confused:...OR...The only gay in the village...:D:D:D
I was a tenant paying only $700 for a spacious 3RM lock one room HDB.
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
rattydrama
10-06-12, 15:40
I was a tenant paying only $700 for a spacious 3RM lock one room HDB.
Cool.. Now u upgrade to multi property owner...
rattydrama
10-06-12, 15:43
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
Sometimes less 100-200 is still worth while. My Korean tenant take care of my house and never trouble me at all.
We are currently at a juncture where landlords thinks that rental market is still rising while tenants thinks that rental market is falling... :47:
TheOnlyGayInTheVillage
10-06-12, 15:55
Cool.. Now u upgrade to multi property owner...
Anyone can do it with two things. Luck and Guts.
TheOnlyGayInTheVillage
10-06-12, 15:56
Sometimes less 100-200 is still worth while. My Korean tenant take care of my house and never trouble me at all.
True that. Mine also no sound no picture, but when i spot check after one year, its like a dog den. :doh:
Anyone can do it with two things. Luck and Guts.
Agree!
Office Boy also can !
DKSG
TheOnlyGayInTheVillage
10-06-12, 15:57
We are currently at a juncture where landlords thinks that rental market is still rising while tenants thinks that rental market is falling... :47:
Mexican standoff.
TheOnlyGayInTheVillage
10-06-12, 15:58
Agree!
Office Boy also can !
DKSG
But u already on the road to it right... With one under the belt.
rattydrama
10-06-12, 16:00
Anyone can do it with two things. Luck and Guts.
Also need first pot of gold.
Sometimes less 100-200 is still worth while. My Korean tenant take care of my house and never trouble me at all.
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 ???
True that. Mine also no sound no picture, but when i spot check after one year, its like a dog den. :doh:
Your tenants are from???
TheOnlyGayInTheVillage
10-06-12, 16:19
Your tenants are from???
Land of rising sun.
Land of rising sun.
Oh, tot they r not so bad n like tidy n clean place.
tats why cannot simply judge ppl from nationality
rattydrama
10-06-12, 17:35
True that. Mine also no sound no picture, but when i spot check after one year, its like a dog den. :doh: its a family and wife not working. Hopefully it will not be as that you said!
rattydrama
10-06-12, 17:36
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 ??? try harder and give yourself another chance.
Has to do with their pay and cultural cultivation level? Those pay $6k or more ones usually quite good (at least my experience), regardless Japanese, Korean, or even other nationalities.
tats why cannot simply judge ppl from nationality
rattydrama
10-06-12, 17:43
Has to do with their pay and cultural cultivation level? Those pay $6k or more ones usually quite good (at least my experience), regardless Japanese, Korean, or even other nationalities.
Yes mostly true but 6k tenant are not many and the supply is plentiful going forward 2014.
2012 is only the start. Rental should be very competitive in 2013 onwards. However I think from 2016 onwards it should ease if the global economy recovers. If global economy still doesn't improve by then, prepare for WWIII.
already there is downward pressure now:(
Think the supply for >$6k is dropping? Rather, I see lots of <$4k pm ones coming into the market from 2014 from the OCRs launched over last 2 years.
Yes mostly true but 6k tenant are not many and the supply is plentiful going forward 2014.
phantom_opera
10-06-12, 22:16
don't worry, James Bond will fix it with another 100b EURO bailout, very soon, inflation will resume
http://static.guim.co.uk/sys-images/Guardian/Pix/commercial/2012/6/9/1339196664296/Martin-Rowson-cartoon-09.-001.jpg
buttercarp
10-06-12, 22:22
tats why cannot simply judge ppl from nationality
宏明27, 君は日本人ですか?
Hiroaki27, are you Japanese?
rattydrama
10-06-12, 22:29
Think the supply for >$6k is dropping? Rather, I see lots of <$4k pm ones coming into the market from 2014 from the OCRs launched over last 2 years. not saying its dropping but competition is keener. Tenants have more choice. We need to have agent as friends to help push our unit at good price.
some owner may choice to lower rent instead of leaving it vacant.
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
Srx. Don't know if it's avail to non agents
Anybody knows if HDB rental is moving up or down?
its a family and wife not working. Hopefully it will not be as that you said!
Rented house to indian family as well. Wife not working, with 1 toddler.
House was stickly, dirty and kitchen the dirtiest place of all with oil stains splattered all over the walls...I bet they never cleaned the kitchen during their 1.5 years there...Lesson learnt - no more indians!:simmering:
buttercarp
11-06-12, 12:52
Rented house to indian family as well. Wife not working, with 1 toddler.
House was stickly, dirty and kitchen the dirtiest place of all with oil stains splattered all over the walls...I bet they never cleaned the kitchen during their 1.5 years there...Lesson learnt - no more indians!:simmering:
My Indian FT neighbour's place is spic and span (at least during Deepavali when I visit them). They are professionals (wife is Phd, husband is working for german bank) and they have a teenage girl. They also have part time maid.
TheOnlyGayInTheVillage
11-06-12, 13:08
My Indian FT neighbour's place is spic and span (at least during Deepavali when I visit them). They are professionals (wife is Phd, husband is working for german bank) and they have a teenage girl. They also have part time maid.
I think its dangerous to generalise. If only it were that easy we would all get perfect tenants. These days, even getting a viewing is trying. If you check out forums of expats in Singapore their budget has started to fall and many are happy with just a suburban location and average decent apartment.
Then how come people say, in this forum, their rental go up 10%, 15%, 20%, and it seems almost immediately following the old lease?
Logically, it would follow that nos of ex-pat would fall esp from Europe and their housing allowance sld be capped. So with supply coming in, I wld expect some rental decreases over time.
I think its dangerous to generalise. If only it were that easy we would all get perfect tenants. These days, even getting a viewing is trying. If you check out forums of expats in Singapore their budget has started to fall and many are happy with just a suburban location and average decent apartment.
:D Ah B lease is expiring... pm him... he definitely not buying, he wants to wait till 2015
TheOnlyGayInTheVillage
11-06-12, 15:39
Then how come people say, in this forum, their rental go up 10%, 15%, 20%, and it seems almost immediately following the old lease?
Logically, it would follow that nos of ex-pat would fall esp from Europe and their housing allowance sld be capped. So with supply coming in, I wld expect some rental decreases over time.
I really dunno. Ask them? Maybe their property is super hot demand.
Comparing say
$1m MM in CBD, rental $4k pm
$500k x 2 MM in OCR, rental $2k x 2 pm
Assuming CBD MM found tenant easily and immediately
OCR MM both took 2 months each to find tenants
CBD MM yield 4.8%
OCR MM yield 4%
I stand corrected. Sometimes spread the eggs may not be good, when it comes to investment.
I would think that there are more $2K tenants than $4K tenants? So $2K MM easier to rent out?
FT budgets are coming down and expat packages with housing allowances are mostly a thing of the past (according to my conversations with headhunters)
I really dunno. Ask them? Maybe their property is super hot demand.
Comparing say
$1m MM in CBD, rental $4k pm
$500k x 2 MM in OCR, rental $2k x 2 pm
Assuming CBD MM found tenant easily and immediately
OCR MM both took 2 months each to find tenants
CBD MM yield 4.8%
OCR MM yield 4%
I stand corrected. Sometimes spread the eggs may not be good, when it comes to investment.
The rental activities seem to be very dead recently... I only had 3 viewings for my unit over the past weekend. Last yr around this time, I could easily have 6-7 viewings within the same afternoon... :beats-me-man:
The rental activities seem to be very dead recently... I only had 3 viewings for my unit over the past weekend. Last yr around this time, I could easily have 6-7 viewings within the same afternoon... :beats-me-man:
Sounds bad. Maybe tenants r viewing showrooms instead.
Rented house to indian family as well. Wife not working, with 1 toddler.
House was stickly, dirty and kitchen the dirtiest place of all with oil stains splattered all over the walls...I bet they never cleaned the kitchen during their 1.5 years there...Lesson learnt - no more indians!:simmering:
I rented to angmoh family and the wife also not working as well, and i visited once and found the house super messy with stuffs strewn all over the floor ... but fortunately they engaged a team of professional cleaners (which he claimed to be $500) on the morning before he handed the house back to me.
Anybody knows if HDB rental is moving up or down?
I just did a quick search on guru seems like there are more than twice
The number of 4rm flats for rental in mkt than there were 1.5 years
Ago when i put my flat out for rental...so i got a feeling there might
Be some downward pressure on rental prices...
Allthepies
11-06-12, 23:03
Then how come people say, in this forum, their rental go up 10%, 15%, 20%, and it seems almost immediately following the old lease?
Logically, it would follow that nos of ex-pat would fall esp from Europe and their housing allowance sld be capped. So with supply coming in, I wld expect some rental decreases over time.
It depends on the units and the mentality of owners.
I just did a quick search on guru seems like there are more than twice
The number of 4rm flats for rental in mkt than there were 1.5 years
Ago when i put my flat out for rental...so i got a feeling there might
Be some downward pressure on rental prices...
Sounds bad too. Imagine when Punggol n Pasir Ris condos TOP at nearly e same time, might b bad for upgraders. Saving cash for firesales 2-3 years later.
I accompanied a friend to view Simsville in Mar this year, as he was attracted to the rental yield. The 2BR unit he saw was then tenanted to a Jap Director at 3.4k/mth, considered v attractive. Agent told me that Simsville is super easy to rent and she usually could close the deal within the same day.
This aftn, I learnt from the agent that the Jap Dir tenant has been retrenched and sent back home. She has been advertising on ST for past 2 sats and has 0 viewing over the past weekend. Now, my friend felt so lucky that he didnt buy the Simsville unit then. He only has just enough $ to pay the 20% down-payment and would need the rentals to finance the loan.
Lets hope the sentiments would get better soon ....
anythingwhatever
11-06-12, 23:26
I accompanied a friend to view Simsville in Mar this year, as he was attracted to the rental yield. The 2BR unit he saw was then tenanted to a Jap Director at 3.4k/mth, considered v attractive. Agent told me that Simsville is super easy to rent and she usually could close the deal within the same day.
This aftn, I learnt from the agent that the Jap Dir tenant has been retrenched and sent back home. She has been advertising on ST for past 2 sats and has 0 viewing over the past weekend. Now, my friend felt so lucky that he didnt buy the Simsville unit then. He only has just enough $ to pay the 20% down-payment and would need the rentals to finance the loan.
Lets hope the sentiments would get better soon ....
Yes, buy within means and be ready to service loan repayments in the absence of rental income.
Yes, buy within means and be ready to service loan repayments in the absence of rental income.
Not easy to cough up $2k+ a month to cover installment and maintenance if there is no tenant.
TheOnlyGayInTheVillage
12-06-12, 09:50
The rental activities seem to be very dead recently... I only had 3 viewings for my unit over the past weekend. Last yr around this time, I could easily have 6-7 viewings within the same afternoon... :beats-me-man:
Double confirm. Mine almost new and one of the best units in the whole development yet only ONE viewing since two weeks plus liao.
Times ARE bad.
anythingwhatever
12-06-12, 09:57
Not easy to cough up $2k+ a month to cover installment and maintenance if there is no tenant.
Exactly, given that it's not easy, all the more it's important to be prudent.
Also be prepared that current tenants may break lease when retrenched or recalled to home country by the company.
Double confirm. Mine almost new and one of the best units in the whole development yet only ONE viewing since two weeks plus liao.
Times ARE bad.
which development?
Exactly, given that it's not easy, all the more it's important to be prudent.
Self-destruction... http://www.straitstimes.com/PrimeNews/Story/STIStory_809599.html
Self-destruction... http://www.straitstimes.com/PrimeNews/Story/STIStory_809599.html
me not a subscriber...cannot see :o
can copy and paste:confused:
SMEs gird themselves for tighter foreign worker quotas
Published on Jun 11, 2012
http://www.straitstimes.com/PrimeNews/Story/STIStory_809599.html
WITH weeks to go before foreign worker quotas are further tightened, small and medium-sized enterprises (SMEs) are bracing themselves for the squeeze.
They expect labour shortages to worsen - at a time when they are already struggling to fill vacancies - and higher wage costs.
The biggest impact is likely to be on their growth plans.
Half the 25 SMEs The Straits Times spoke to cited this as the key fallout of lower quotas for the services and manufacturing sectors which kick in next month.
Some SMEs in the services sector said they have had to turn away business. That is because they find it near impossible to recruit locals and also to automate much of their work.
Companies in the transport, food manufacturing and restaurant lines are the most likely to face practical limits to automation, said Mr Teo Siong Seng, president of the Singapore Chinese Chamber of Commerce and Industry.
As for manufacturing SMEs, some are thinking of relocating to lower-cost locations in the region. That is because not only are foreign worker quotas coming down, but also levies are going up.
The Manpower Ministry has said that the lower quotas will hit about 8,500 services-related firms and 500 manufacturing companies that are highly reliant on foreign manpower, but not the vast majority of firms.
At the same time, it seems many SMEs have made headway in raising productivity, which helps them cope with the labour crunch.
Some 31,000 SMEs benefited from the Productivity and Innovation Credit scheme last year, the Inland Revenue Authority of Singapore said. The scheme grants tax deductions or cash payouts for changes such as automation, staff training, and research and development.
TheOnlyGayInTheVillage
12-06-12, 10:31
which development?
MM development in OCR la, not prime areas
TheOnlyGayInTheVillage
12-06-12, 10:37
SMEs gird themselves for tighter foreign worker quotas
Published on Jun 11, 2012
http://www.straitstimes.com/PrimeNews/Story/STIStory_809599.html
WITH weeks to go before foreign worker quotas are further tightened, small and medium-sized enterprises (SMEs) are bracing themselves for the squeeze.
They expect labour shortages to worsen - at a time when they are already struggling to fill vacancies - and higher wage costs.
The biggest impact is likely to be on their growth plans.
Half the 25 SMEs The Straits Times spoke to cited this as the key fallout of lower quotas for the services and manufacturing sectors which kick in next month.
Some SMEs in the services sector said they have had to turn away business. That is because they find it near impossible to recruit locals and also to automate much of their work.
Companies in the transport, food manufacturing and restaurant lines are the most likely to face practical limits to automation, said Mr Teo Siong Seng, president of the Singapore Chinese Chamber of Commerce and Industry.
As for manufacturing SMEs, some are thinking of relocating to lower-cost locations in the region. That is because not only are foreign worker quotas coming down, but also levies are going up.
The Manpower Ministry has said that the lower quotas will hit about 8,500 services-related firms and 500 manufacturing companies that are highly reliant on foreign manpower, but not the vast majority of firms.
At the same time, it seems many SMEs have made headway in raising productivity, which helps them cope with the labour crunch.
Some 31,000 SMEs benefited from the Productivity and Innovation Credit scheme last year, the Inland Revenue Authority of Singapore said. The scheme grants tax deductions or cash payouts for changes such as automation, staff training, and research and development.
Why difficult to recruit locals? I actively searching for opportunities. Bored to death. $ not an issue at all... As long as the job is interesting and good learning for developing career. Helps to pay the bills.
SMEs gird themselves for tighter foreign worker quotas
Published on Jun 11, 2012
i think the move is to make SME company to work on train their employee to be more productive & reward them with higher wage at the same time..
:ashamed1:
ikan bilis
12-06-12, 10:38
I really dunno. Ask them? Maybe their property is super hot demand.
Comparing say
$1m MM in CBD, rental $4k pm
$500k x 2 MM in OCR, rental $2k x 2 pm
Assuming CBD MM found tenant easily and immediately
OCR MM both took 2 months each to find tenants
CBD MM yield 4.8%
OCR MM yield 4%
I stand corrected. Sometimes spread the eggs may not be good, when it comes to investment.
OCR Near-MRT MM vs OCR Non-Near-MRT MM should be huge difference... so may be...
CBD MM yield 4.8%
OCR MM (near mrt) yield 4.4%
OCR MM (not near mrt) yield 4%
;)
TheOnlyGayInTheVillage
12-06-12, 10:39
OCR Near-MRT MM vs OCR Non-Near-MRT MM should be huge difference... so may be...
CBD MM yield 4.8%
OCR MM (near mrt) yield 4.4%
OCR MM (not near mrt) yield 4%
;)
Dont see why that is not possible...:cheers5:
Not easy to cough up $2k+ a month to cover installment and maintenance if there is no tenant.
it is VERY VERY painful my current tenant moving out end next month and i got 3 mths after that which i will HAVE NO rental income but i need to pay my landlord rental cos i renting a semi-D....sianz thats 3.5k x 3 = 10.5K down the drain.....of course NOT so bad cos i will need at least 2mths to DO major renos to my flat before i move back in...SIANZ $$$$ flying away...:doh:
TheOnlyGayInTheVillage
12-06-12, 10:42
Actually i just restarted engine in job search (more serious about it), its not no opportunities for locals, but the calls keep coming from such:
Land banking companies
Insurance agencies
Real estate agencies
IT developer/software engineer (just because i have BSc)
Most of those who said found your cv from Monster are crap and spam.
The insurance agency actually ask if you are local before starting on psychoing you to join them. Are what locals end up being only good for? Middlemen?
TheOnlyGayInTheVillage
12-06-12, 10:44
it is VERY VERY painful my current tenant moving out end next month and i got 3 mths after that which i will HAVE NO rental income but i need to pay my landlord rental cos i renting a semi-D....sianz thats 3.5k x 3 = 10.5K down the drain.....of course NOT so bad cos i will need at least 2mths to DO major renos to my flat before i move back in...SIANZ $$$$ flying away...:doh:
Its the inherent risk of the profession of LL.
Landlord.
Every business comes with risks. :(
Painful, but consider yourself fortunate.
Now you can reno and move back after renting your flat and enjoying landed as a subsidised sample of that life. I think you came out ahead.
it is VERY VERY painful my current tenant moving out end next month and i got 3 mths after that which i will HAVE NO rental income but i need to pay my landlord rental cos i renting a semi-D....sianz thats 3.5k x 3 = 10.5K down the drain.....of course NOT so bad cos i will need at least 2mths to DO major renos to my flat before i move back in...SIANZ $$$$ flying away...:doh:
it is VERY VERY painful my current tenant moving out end next month and i got 3 mths after that which i will HAVE NO rental income but i need to pay my landlord rental cos i renting a semi-D....sianz thats 3.5k x 3 = 10.5K down the drain.....of course NOT so bad cos i will need at least 2mths to DO major renos to my flat before i move back in...SIANZ $$$$ flying away...:doh:
I feel for you ... just imagine each time you enter the vacated unit, the moment you turn on the lights, aircon or taps... the bills all come to you :scared-5:
Haha but dont despair, when rental goes up, it can really shoot up very high and fast.
it is VERY VERY painful my current tenant moving out end next month and i got 3 mths after that which i will HAVE NO rental income but i need to pay my landlord rental cos i renting a semi-D....sianz thats 3.5k x 3 = 10.5K down the drain.....of course NOT so bad cos i will need at least 2mths to DO major renos to my flat before i move back in...SIANZ $$$$ flying away...:doh:
faster go find new tenant!!! :scared-2:
Actually i just restarted engine in job search (more serious about it), its not no opportunities for locals, but the calls keep coming from such:
Land banking companies
Insurance agencies
Real estate agencies
IT developer/software engineer (just because i have BSc)
Most of those who said found your cv from Monster are crap and spam.
The insurance agency actually ask if you are local before starting on psychoing you to join them. Are what locals end up being only good for? Middlemen?
Sometime I wonder about the same... "are local graduates end up being only good for Middlemen" especially when age catches up!!!
it is VERY VERY painful my current tenant moving out end next month and i got 3 mths after that which i will HAVE NO rental income but i need to pay my landlord rental cos i renting a semi-D....sianz thats 3.5k x 3 = 10.5K down the drain.....of course NOT so bad cos i will need at least 2mths to DO major renos to my flat before i move back in...SIANZ $$$$ flying away...:doh:
Bro, since you already in it, enjoy the rest of your stay in the landed.
But if you do change your mind then faster find new tenants.
2 wks ago my angmoh tenant kena retrenched and has to exercised diplomatic clause. This evening, I received another phone call that my other angmoh tenant also suffers the same fate. Now I have two vacant units :doh:
2 wks ago my angmoh tenant kena retrenched and has to exercised diplomatic clause. This evening, I received another phone call that my other angmoh tenant also suffers the same fate. Now I have two vacant units :doh:
Hope you can recoup your losses.
TheOnlyGayInTheVillage
12-06-12, 19:44
2 wks ago my angmoh tenant kena retrenched and has to exercised diplomatic clause. This evening, I received another phone call that my other angmoh tenant also suffers the same fate. Now I have two vacant units :doh:
omg
I feel ur pain bro
2 wks ago my angmoh tenant kena retrenched and has to exercised diplomatic clause. This evening, I received another phone call that my other angmoh tenant also suffers the same fate. Now I have two vacant units :doh:
Hope u can recover fast. Call more agents now.
2 wks ago my angmoh tenant kena retrenched and has to exercised diplomatic clause. This evening, I received another phone call that my other angmoh tenant also suffers the same fate. Now I have two vacant units :doh:
which industry are they in? I've got Angmoh tenants too:scared-3:
hope you get new tenants paying more rental:D
but will you be happy with the current rental... upping or lowering your expectation? Just like to know what the sentiments are among landlords.
If it is any consolation to you, one of my tenants recently pulled the diplomatic clause on me as well.... it baffles me that the new property prices are still escalating.
It is not commensurating with rental, the situation is untenable.
2 wks ago my angmoh tenant kena retrenched and has to exercised diplomatic clause. This evening, I received another phone call that my other angmoh tenant also suffers the same fate. Now I have two vacant units :doh:
Hope u can recover fast. Call more agents now.
Hey guys thanks for all the comforting responses here. Both the units are under corporate lease so I m still paid for the next 2mths, but both angmohs have chosen to vacate immediately.
Quite a no. of new projects have TOPed over the past couple of yrs in D15 where my units are, so agents tell me tenants are spoilt for choices now.
Quite a no. of new projects have TOPed over the past couple of yrs in D15 where my units are, so agents tell me tenants are spoilt for choices now.
Yes, getting difficult to find tenants with budget >$5000.
It took me almost two months to find one with such budget.
If you are a leveraged landlord, your rental floor will be likely the monthly mortgage payment. Otherwise it will be a negative cash flow. Some will start thinking of selling.
If you are a fully paid landlord, you are likely just to go with the market rate - some money is better than nothing.
Thanks,
Richard
which industry are they in? I've got Angmoh tenants too:scared-3:
hope you get new tenants paying more rental:D
but will you be happy with the current rental... upping or lowering your expectation? Just like to know what the sentiments are among landlords.
Hi, one of them is in Forex while the other is from a US IT firm. I am okay with same rentals, not expecting higher as my previous rentals were already higher than the market rate. But i did spend quite a fair bit on the IDs and furniture (for 1 of the units)
I would think some money is better than nothing regardless of whether you are a leveraged or fully paid-up landlord.
If you are a leveraged landlord, your rental floor will be likely the monthly mortgage payment. Otherwise it will be a negative cash flow. Some will start thinking of selling.
If you are a fully paid landlord, you are likely just to go with the market rate - some money is better than nothing.
Thanks,
Richard
Hi, one of them is in Forex while the other is from a US IT firm. I am okay with same rentals, not expecting higher as my previous rentals were already higher than the market rate. But i did spend quite a fair bit on the IDs and furniture (for 1 of the units)
May I know what are your unit(s) size and location?
It took me 1 month+ to find a tenant for my 1 bedroom at the city fringe. Unit will vacant for 2 months when he eventually moves in....
There are several other vacant units of the same layout still on the market, so I guess I shouldn't be complaining...:o
May I know what are your unit(s) size and location?
Both at D15 above 1100sf
TheOnlyGayInTheVillage
12-06-12, 20:22
Hey guys thanks for all the comforting responses here. Both the units are under corporate lease so I m still paid for the next 2mths, but both angmohs have chosen to vacate immediately.
Quite a no. of new projects have TOPed over the past couple of yrs in D15 where my units are, so agents tell me tenants are spoilt for choices now.
Ouch. Me vested in D15 too...
Large rental units will find it harder to compete going forward, juz like e mighty T-rex tt used to rule e dinosaur era, became extinct when global climate cooled.
Both at D15 above 1100sf
Good location and reasonable space.
I believe there will be tenants.
Good location and reasonable space.
I believe there will be tenants.
Thanks, I remain optimistic. Now I just need to be less choosy in selecting my tenants.
Thanks, I remain optimistic. Now I just need to be less choosy in selecting my tenants.
There is always a need to stay positive and optimistic.
There are people who claimed investing here and there, however when asked to take a higher or/and calculated risk, they are quick to criticise.
Anyway, there bound to have tenants.
Sleepyhead
12-06-12, 20:51
Good location and reasonable space.
I believe there will be tenants.
Consider selling since market has is nearing peak, as some would claim?
Consider selling since market has is nearing peak, as some would claim?
I will let those affected one(s) make their own decision and judgement call.
If I am one of them, I will not sell. It just doesn't make sense to sell if and only if I can afford and sustain. If not, I will just rent it and not fussy with the tenant(s) profile.
Got a few rental enquiries for my unit that is near city fringe. Offering $4800 for two bedder. Maybe this people move from CBD.
It took me 1 month+ to find a tenant for my 1 bedroom at the city fringe. Unit will vacant for 2 months when he eventually moves in....
There are several other vacant units of the same layout still on the market, so I guess I shouldn't be complaining...:o
Consider selling since market has is nearing peak, as some would claim?
People has been proclaiming "market is nearing peak" for the past few years... yet the prices continue to creep up.... who knows how much more it's going to creep up?
The question what do you do with the cash when you do cash out... inflation is still high if not getting higher...
It will not be so easy if you do decide to come back into the market. There's the ABSD, making the transaction cost 10% of the property price. In other words, it takes the prices to fall by more than 10% to make it worth your while to "flip".
The most property prices has dropped was 35% (someone posted earlier in the asian financial crisis). If you deduct the 10% transaction cost. The downside to holding onto a property is a drop of 25%. That's assuming that it drops immediately by 35% the moment you sell.
It may go up 10% before it crashes. In that case, your downside is 15%.
The upside is unlimited.
I'll take my chances with my holdings, especially rental isn't that bad and covers my installments.
Large rental units will find it harder to compete going forward, juz like e mighty T-rex tt used to rule e dinosaur era, became extinct when global climate cooled.
I actually think that OCR large apartment > 2000sqft will still be in demand because of the lack of supply.
Maybe. End of year shd b clearer. Economic data is messy now..one day good another day bad. I wld rather miss e boat than b in a sinking boat later.
I think >2000sqft is a niche market, this is regardless of whether OCR or CCR.
At times it can be in demand at other times it takes forever to find tenants...
I actually think that OCR large apartment > 2000sqft will still be in demand because of the lack of supply.
reading this thread makes for some sombre reading.
Just 2 -3 months ago, forummers were saying they could get rental jump and now diplomatic clause activated, slower fill of vacant units and potential lower rentals with higher vacancy rates in D15...
How about CCR? My rental unit is due later this year...:scared-3:
TheOnlyGayInTheVillage
13-06-12, 11:36
reading this thread makes for some sombre reading.
Just 2 -3 months ago, forummers were saying they could get rental jump and now diplomatic clause activated, slower fill of vacant units and potential lower rentals with higher vacancy rates in D15...
How about CCR? My rental unit is due later this year...:scared-3:
May i suggest u start marketing it 3 mths prior.
My apologies if my sharings and predicaments have caused some negative sentiments in the forum - i guess we need more time to see the trend and not let my 2 cases be a represensation of the rental market (in D15).
On the brighter side, i received several phone calls from agents last night and this morn, and in all i have 3 viewings arranged for tdy and tmr. Seems like tenants are still around, but since they have more choices now (with more new projects), so it will naturally take longer time to close a deal, but eventually all houses will be filled.
If it is any consolation to you, one of my tenants recently pulled the diplomatic clause on me as well.... it baffles me that the new property prices are still escalating.
It is not commensurating with rental, the situation is untenable.
Partially untenable. Some buy to stay or keep for future generations. Not all buy to rent out.
No worries bro ...good post coz any information is good.
TheOnlyGayInTheVillage
13-06-12, 12:33
Ya a trend does not one or two cases make. No worries. I added on my case coz same boat... But till now still nsnp hahahaha and its mm unit
What does inflation mean?
Say 5% inflation, if you keep $100,000 in bank, say without interest (since too low), you will lose $5,000 after 1 year.
If property prices go down by 10%, a $1,000,000 property would be $100,000 shaved off.
So I rather lose the $5,000 to pay $100,000 less.
Makes sense?
Well... different people will look at it differently.
Don't forget that the intrinsic value of a property is still there whatever the valuation may be.... it is brick and mortar and has the ability to generate income
To each his own
What does inflation mean?
Say 5% inflation, if you keep $100,000 in bank, say without interest (since too low), you will lose $5,000 after 1 year.
If property prices go down by 10%, a $1,000,000 property would be $100,000 shaved off.
So I rather lose the $5,000 to pay $100,000 less.
Makes sense?
What does inflation mean?
Say 5% inflation, if you keep $100,000 in bank, say without interest (since too low), you will lose $5,000 after 1 year.
If property prices go down by 10%, a $1,000,000 property would be $100,000 shaved off.
So I rather lose the $5,000 to pay $100,000 less.
Makes sense?
me will choose to lose $5000 also :cool::cool::cool:
i do agree that rent out property does give you income..
make sure you do not over-stretch your loan .. careful planning is require to play property game..:ashamed1::ashamed1:
phantom_opera
13-06-12, 13:22
Don't worry, our dragon head property market is heating up again ... i don't think it is the end of inflationary boom yet, 8y is a bare minimum, start counting from QE1
杭州、深圳、上海、南京几个具有楼市风向标意义的城市，最近一段时间的购房热情正持续升温。
据住在杭州网统计，截至6月11日，杭州主城区年内共成交住宅13531套，已经超过去年全年。
此外，深圳、南京、上海等地纷纷出现千人购房，或开盘基本售罄的情况。碧桂园南京凤凰城项目700套房源甚至引来1.1万人次看房。一些购房者表示，降息及一系列政策微调后，楼市已经触底的判断已经在市场蔓延。
Buying is no problem if you don't need to sell.
What does inflation mean?
Say 5% inflation, if you keep $100,000 in bank, say without interest (since too low), you will lose $5,000 after 1 year.
If property prices go down by 10%, a $1,000,000 property would be $100,000 shaved off.
So I rather lose the $5,000 to pay $100,000 less.
Makes sense?
Another scenario: let's say 2 years drop by 10%. Valuation loss 100,000.
Rental income for two years cover the losses.
Money in bank lost by 10k approximate.
What if appreciate 10% in 2 years?
It's a bet to commit, but sure loss to not commit. Committing later has a chance of beating first 2 scenarios, but must meet several conditions, and still remains a chance.
Another scenario is that you have a sure gain investment tool giving you 5% gain consistently to beat inflation. That works too.
To solely depend on tenants to finance your properties is considered high risk.
Must stand by in case cannot find tenants for few months. If can repay back monthly loan for 1 year, should be safe.. Think of anything extra as bonus. Will be happier..
do u provide diplomatic clause or any form of termination clause for a singaporean family? tenure is 2 years.
To solely depend on tenants to finance your properties is considered high risk.
Must stand by in case cannot find tenants for few months. If can repay back monthly loan for 1 year, should be safe.. Think of anything extra as bonus. Will be happier..
In Singapore it will be foolish for Singaporeans not to take advantage of the opportunity to be a landlord.
To be successful you need to make sure you buy property that you like, something with wow factor, be it facing location layout facilities etc. Dont just buy something that is cheap because in bad times, you will have problem finding tenant.
What does inflation mean?
Say 5% inflation, if you keep $100,000 in bank, say without interest (since too low), you will lose $5,000 after 1 year.
If property prices go down by 10%, a $1,000,000 property would be $100,000 shaved off.
So I rather lose the $5,000 to pay $100,000 less.
Makes sense?
Cnud - this is my understanding of inflation (i may be wrong though)
- Yes, keeping $100,000 in bank with low interest rate but a 5% inflation would mean you lose $5,000 after 1 yr.
- But when there is inflation, chances of ppty prices going up is there, unless there are external factors (economy downturn, SARS, wars) that push down the ppty prices.
The logic behind why people buy ppty to curb inflation is because there is no way the money in the bank will grow on par with the inflation rate. On the other hand, they perceived that the ppty prices will increase on par or even faster than the inflation.
Cnud - this is my understanding of inflation (i may be wrong though)
- Yes, keeping $100,000 in bank with low interest rate but a 5% inflation would mean you lose $5,000 after 1 yr.
- But when there is inflation, chances of ppty prices going up is there, unless there are external factors (economy downturn, SARS, wars) that push down the ppty prices.
The logic behind why people buy ppty to curb inflation is because there is no way the money in the bank will grow on par with the inflation rate. On the other hand, they perceived that the ppty prices will increase on par or even faster than the inflation.
In this period of massive supplies of 99LH ECs n condos n zombie economy, it is a little risky in e short term. Juz visited a showflat at Punggol, sales seem slow after VVIP.
rattydrama
13-06-12, 21:58
usually after x'mas, get to have more tenants. June-July is a dull period. There are not many tenants.
http://sbr.com.sg/sites/default/files/awards/june12chart_0.JPG
usually after x'mas, get to have more tenants. June-July is a dull period. There are not many tenants.
yup all got cycle one:
http://farm6.staticflickr.com/5326/7091260701_a01d242c35_b.jpg
rattydrama
13-06-12, 22:19
drtax, my comments only hold true for last year. thanks for the chart.
How should i be seeing those charts. Looks like a cluster of data points with no clear trend.
I would think June to aug is the best period to get rentals, yr end would be v bad....
TheOnlyGayInTheVillage
13-06-12, 23:23
I would think June to aug is the best period to get rentals, yr end would be v bad....
That's what I gather too from quick glance at the line graph.
Also, I gather that the surge since Jun/July 2011 last year after GE the govt purposely re-opened the flood gates for FT....
That's what I gather too from quick glance at the line graph.
Also, I gather that the surge since Jun/July 2011 last year after GE the govt purposely re-opened the flood gates for FT....
Yeah.. Anyway based on the viewers profile I observed these few days, I can't help but feel liquidity is indeed flowing from the west to Asia. I have more japs and Koreans viewing my house than angmohs, and the latter often claim that they do not have the budget ...
What does inflation mean?
Say 5% inflation, if you keep $100,000 in bank, say without interest (since too low), you will lose $5,000 after 1 year.
If property prices go down by 10%, a $1,000,000 property would be $100,000 shaved off.
So I rather lose the $5,000 to pay $100,000 less.
Makes sense?
$535,000x20%=$107,000 this is what I pay in Jun 2006 for Southbank 2 Bedroom. This is inflation.
Rent out for 2 years at $4,000 per month = $ 96,000 this is lots better than the bank.
I still can't make any cent out of it.
rattydrama
14-06-12, 11:24
$535,000x20%=$107,000 this is what I pay in Jun 2006 for Southbank 2 Bedroom. This is inflation.
Rent out for 2 years at $4,000 per month = $ 96,000 this is lots better than the bank.
I still can't make any cent out of it.
You have catched the right time/entry price. Good for you. Maybe it is good to drop and we could catch it again. LOL
$535,000x20%=$107,000 this is what I pay in Jun 2006 for Southbank 2 Bedroom. This is inflation.
Rent out for 2 years at $4,000 per month = $ 96,000 this is lots better than the bank.
I still can't make any cent out of it.
Excellent for you.
But I am refering to a different season now. Before entering the market NOW, not 2006..
WIth lower budgets for expats, the risk of higher interest rates will scare many newbie investors.
With the deluge of many entering the market, I am standing by for the right time to enter in again.
Of course, I am a seller as well as a buyer. But I am repositioning to stand by mroe cash. If need be, to even pay off all debts without getting new purchases if things go awry.
phantom_opera
14-06-12, 14:50
G7 猫有九命 。。。
Got a few rental enquiries for my unit that is near city fringe. Offering $4800 for two bedder. Maybe this people move from CBD.
Need advise from experts here.I am a foreigner.My existing tenant express interest to renew the tenancy in two months time.Do i need to pay commission to my existing agent or is borne by the tenant?
Need advise from experts here.I am a foreigner.My existing tenant express interest to renew the tenancy in two months time.Do i need to pay commission to my existing agent or is borne by the tenant?
Commission shall be borne by the landlord, not the tenant, but thats provided such a clause exist in your contract. I did have some lease previously which i negotiated to remove such a clause.
Commission shall be borne by the landlord, not the tenant, but thats provided such a clause exist in your contract. I did have some lease previously which i negotiated to remove such a clause.
I will always make sure that that clause is removed. Otherwise, no deal.
If there no such clause don't have to pay. But you'll need to do the renewal of contract by yourself.
If got such clause, enter new contract lor.... Need to do the contract yourself too...
Commission shall be borne by the landlord, not the tenant, but thats provided such a clause exist in your contract. I did have som
e lease previously which i negotiated to remove such a clause.
Thnks.This is my second renewal.I need to check any clause exist,as my agent didnt charge commision for my first renewal.Not sure can renew for 2 years as original is on one year basis.And not sure whether can up rental this time as economy is uncertain.
these days agent even for 2 yrs rental some ask tenant for commission.
Carbuncle... How's the progress of your unit rental? I have had many viewings back to back, but still no offer :doh: damn tiring to keep opening the hse
Wish u gd luck and wish myself good luck too :)
Carbuncle... How's the progress of your unit rental? I have had many viewings back to back, but still no offer :doh: damn tiring to keep opening the hse
Wish u gd luck and wish myself good luck too :)
your one is condo, hdb or landed?
your one is condo, hdb or landed?
Condo ....
what could be the reason for been reject by tenant?
what could be the reason for been reject by tenant?
I have one korean and one British family with kids both commenting that the unit is too nice, and they are afraid their kids will spoil my furnitures ...
TheOnlyGayInTheVillage
16-06-12, 16:54
Carbuncle... How's the progress of your unit rental? I have had many viewings back to back, but still no offer :doh: damn tiring to keep opening the hse
Wish u gd luck and wish myself good luck too :)
Dont give up. Thats why let agent do the legwork. U can advertise yourself and when get the lead pass on to your agent. To the tenant no diff since he dont pay any comms.
Also it helps if u know the lobangs for online marketing sites. Tip: look for sites catering to expats and if u doing small units for single try the LBGT portals. You can even drill down to specific portals catering to specific type of FT. Pinoy, PRC, angmo all have their own preferred portals. I am still researching on day to day basis. Its good learning as well.
Ps i m not talking about major portals like propguru and iprop which if tenants dont like to deal with agents will not visit.
TheOnlyGayInTheVillage
16-06-12, 16:55
I have one korean and one British family with kids both commenting that the unit is too nice, and they are afraid their kids will spoil my furnitures ...
This is just an excuse for admitting with pride they cant afford it.
How much are you asking for your property rental that they are afraid to spoil your furnitures? High budget? :scared-3:
I have one korean and one British family with kids both commenting that the unit is too nice, and they are afraid their kids will spoil my furnitures ...
I have one korean and one British family with kids both commenting that the unit is too nice, and they are afraid their kids will spoil my furnitures ...
errr. too nice?
if like that, replace them or remove them..
solve your misery :D:D:D
Dont give up. Thats why let agent do the legwork. U can advertise yourself and when get the lead pass on to your agent. To the tenant no diff since he dont pay any comms.
Also it helps if u know the lobangs for online marketing sites. Tip: look for sites catering to expats and if u doing small units for single try the LBGT portals. You can even drill down to specific portals catering to specific type of FT. Pinoy, PRC, angmo all have their own preferred portals. I am still researching on day to day basis. Its good learning as well.
Ps i m not talking about major portals like propguru and iprop which if tenants dont like to deal with agents will not visit.
Carbuncle, thanks for sharing the useful tips. I did engage quite a few agents, just that this time round I hv to open the doors myself for the viewers. Although the last tenant has ex the dip clause and paid the next two mths of rental, he has chosen to leave the country early, so the house is vacant now.
I used to hv rather nice tenants whom I would rely on opening the doors for potential tenants during their last mth of tenancy, and i must say the last few ones really deco up the house v nicely and even helped to market my hse. So this time round, I feel much more tiring as compared with the past...
How much are you asking for your property rental that they are afraid to spoil your furnitures? High budget? :scared-3:
Ya, agents will only bring those with budget above 5k ... Am asking around 5.5 to 6k
This is a sure sign potential tenants have a lot of choices now and inflation is biting them too. 2013-2015 will be worse if economy doesn't improve.
This is a sure sign potential tenants have a lot of choices now and inflation is biting them too. 2013-2015 will be worse if economy doesn't improve.
all depend on china liao :cheers3:
I would think bigger units would not be hit that badly by oversupply as they are getting more scarce in the newer projects. Unless tenants don't mind downsizing and paying almost same rentals for newer units with smaller floorspace.
chanelprincess34
17-06-12, 11:04
Hi Zeamybro,
I am not an expert but just wanna tell you don't be disheartened yet.
3 months ago, we wanted to rent out our property too and I was full of confidence that I will get a tenant very fast because the house is very nicely done up and well maintained. It was not until after about 20+ viewing that we finally found the tenant that can afford the rental and really like the house. At first we are looking at $6k per month but eventually reduced to $5.5k
Me and my hubby take turn to open the door for every viewing and it was really tiring. Until I complaint to my hubby and our agent. Our trusted agent then offered to take over the keys from us so that we do not need to be so tired and stressful over this.
After a few viewings thru our agent, we are lucky to get this tenant.
It's true that ppl give all kinds of silly excuses like your house is too nice and your house looks like a showflats but what the heck if they cannot afford to pay what we are asking for. Some offered $4k trying their luck but no we don't give in to this ridiculous amount.
I'm sure someone out there will appreciate your beautiful house. Good luck !!
Hi Zeamybro,
I am not an expert but just wanna tell you don't be disheartened yet.
3 months ago, we wanted to rent out our property too and I was full of confidence that I will get a tenant very fast because the house is very nicely done up and well maintained. It was not until after about 20+ viewing that we finally found the tenant that can afford the rental and really like the house. At first we are looking at $6k per month but eventually reduced to $5.5k
Me and my hubby take turn to open the door for every viewing and it was really tiring. Until I complaint to my hubby and our agent. Our trusted agent then offered to take over the keys from us so that we do not need to be so tired and stressful over this.
After a few viewings thru our agent, we are lucky to get this tenant.
It's true that ppl give all kinds of silly excuses like your house is too nice and your house looks like a showflats but what the heck if they cannot afford to pay what we are asking for. Some offered $4k trying their luck but no we don't give in to this ridiculous amount.
I'm sure someone out there will appreciate your beautiful house. Good luck !!
Hi chanelprincess, thanks for the encouragement and I really appreciate your sharing of experiences! Yeah mabbe I shld just pass my keys and access card to one of the agents
TheOnlyGayInTheVillage
17-06-12, 13:03
Hi chanel and zea, i also passed my keys to agent to save the trouble. Nowadays agents got CES and IEA keep tabs of their records wont dare to be funny. Besides u can spot check anytime on them. Trust should not be abused by professionals. Think they need the clean record more than you need your keys.
WIth lower budgets for expats, the risk of higher interest rates will scare many newbie investors.
With the deluge of many entering the market, I am standing by for the right time to enter in again.
Of course, I am a seller as well as a buyer. But I am repositioning to stand by mroe cash. If need be, to even pay off all debts without getting new purchases if things go awry.
http://www.youtube.com/watch?v=e6LWqgohO4E
http://research.stlouisfed.org/fred2/graph/fredgraph.png?&id=BOGAMBNS&scale=Left&range=Max&cosd=1959-01-01&coed=2012-05-01&line_color=%230000ff&link_values=false&line_style=Solid&mark_type=NONE&mw=4&lw=1&ost=-99999&oet=99999&mma=0&fml=a&fq=Monthly&fam=avg&fgst=lin&transformation=lin&vintage_date=2012-06-17&revision_date=2012-06-17
Hi Zeamybro,
I am not an expert but just wanna tell you don't be disheartened yet.
3 months ago, we wanted to rent out our property too and I was full of confidence that I will get a tenant very fast because the house is very nicely done up and well maintained. It was not until after about 20+ viewing that we finally found the tenant that can afford the rental and really like the house. At first we are looking at $6k per month but eventually reduced to $5.5k
Me and my hubby take turn to open the door for every viewing and it was really tiring. Until I complaint to my hubby and our agent. Our trusted agent then offered to take over the keys from us so that we do not need to be so tired and stressful over this.
After a few viewings thru our agent, we are lucky to get this tenant.
It's true that ppl give all kinds of silly excuses like your house is too nice and your house looks like a showflats but what the heck if they cannot afford to pay what we are asking for. Some offered $4k trying their luck but no we don't give in to this ridiculous amount.
I'm sure someone out there will appreciate your beautiful house. Good luck !!
How many properties do you have now? How old is your husband and yourself. What an achievement.
TheOnlyGayInTheVillage
17-06-12, 15:47
http://www.youtube.com/watch?v=e6LWqgohO4E
http://research.stlouisfed.org/fred2/graph/fredgraph.png?&id=BOGAMBNS&scale=Left&range=Max&cosd=1959-01-01&coed=2012-05-01&line_color=%230000ff&link_values=false&line_style=Solid&mark_type=NONE&mw=4&lw=1&ost=-99999&oet=99999&mma=0&fml=a&fq=Monthly&fam=avg&fgst=lin&transformation=lin&vintage_date=2012-06-17&revision_date=2012-06-17
Great great video. If everyone pays off all debts, there would be no more money in the world because MONEY = DEBT.
This has been something i have been trying to explain to my dad... He still believes that every dollar in credit or notes correspond to actual amount of currency or gold sitting in the bank.
Does this video come in Mandarin?
Happy father day.
http://2.bp.blogspot.com/-7BGqMayzy-8/T923iD83VnI/AAAAAAAAHdI/7NvHR1aKZNQ/s1600/Chinese+caption.JPG
starrynight
17-06-12, 18:51
Some thoughts / observation of my own, as I am looking to buy a D9 unit to rent out at some point too:
latest URA rental records for Q1 show that median rental psm at Reflections at Keppel Bay is $57.32 whereas $60.86 at Caribbean. Does anyone know why? If I were a Caribbean tenant, I would def look to move to Reflections.
we have a new management member joining us in July on expat basis. His rental budget is SGD8,000 for 2 people. I know that Sentosa is a "niche product", but was shocked to hear that he can rent a 2,000sq ft unit at The Coast (which is my favourite condo in Sentosa) for SGD7,500 a month. For $8,000, he can also get a 3-bedder at Rivergate, a renovated 3-bedder at Tanglin Park (with some money left over), etc.
certain niche products will always find niche markets. We are a Scandinavian company - quite a few of the non-shipping Norwegian MNC CEOs based in Singapore are living in Sentosa. The northern Europeans love apartments with big balconies where they can (i) host a small party or (ii) put a dining table so they can east "outside". Again, hence the attractiveness of the 3 above-mentioned condos.
Martin Place Residences Q1 rental psm is $61.48 versus $51.95 for Rivergate. I am hard pressed to think of reasons for the 20% discrepancy (when I think that Rivergate is the superior product), except for the big balconies.
Arcachon,
what do you imply that we should do ?
:o
Arcachon,
what do you imply that we should do ?
:o
Want more money get more debt. Good debt. Gov cannot give money to everyone, only those who know what is money. CM1, CM2, CM3, CM4, CM5 is for those who do not know what is good debt what is bad debt.
Great great video. If everyone pays off all debts, there would be no more money in the world because MONEY = DEBT.
This has been something i have been trying to explain to my dad... He still believes that every dollar in credit or notes correspond to actual amount of currency or gold sitting in the bank.
Does this video come in Mandarin?
Your dad must be belong to the generation who buy stamp and paste in a book and deposit in POSB, I also do it. He is begin program to be a good worker and work hard like I am. He is also train to think in the Box and not out of the box, which is also I am begin train. Due to internet and google, I was able to slowly reprogram myself.
TheOnlyGayInTheVillage
17-06-12, 19:25
Happy father day.
http://2.bp.blogspot.com/-7BGqMayzy-8/T923iD83VnI/AAAAAAAAHdI/7NvHR1aKZNQ/s1600/Chinese+caption.JPG
Many thanks. Happy fathers day to u too!!!
TheOnlyGayInTheVillage
17-06-12, 19:28
Your dad must be belong to the generation who buy stamp and paste in a book and deposit in POSB, I also do it. He is begin program to be a good worker and work hard like I am. He is also train to think in the Box and not out of the box, which is also I am begin train. Due to internet and google, I was able to slowly reprogram myself.
Both my parents are civil servants who worked one single job for life till retirement.
The Post Office Savings Bank, part of the Postal Services Department (prior to independence) was established on 1 January 1877 in the General Post Office Building (http://en.wikipedia.org/wiki/The_Fullerton_Hotel_Singapore), in Raffles Place (http://en.wikipedia.org/wiki/Raffles_Place) by the British Colonial Government in Singapore.[1] (http://en.wikipedia.org/wiki/POSBank#cite_note-0) The bank had a relatively glorious past; by 1951, the bank had its 100,000th depositor, and followed a slow decline after the reaching its peak in 1955.
It was only after independence when the then Minister for Finance (http://en.wikipedia.org/wiki/Minister_for_Finance), Goh Keng Swee (http://en.wikipedia.org/wiki/Goh_Keng_Swee), who rediscovered the potential of the bank to develop the infrastructure of the infant city-state.
In 1972, the Post Office Savings Bank, or commonly referred as the POSB or POSBank by then, was made a statutory board (http://en.wikipedia.org/wiki/Statutory_boards_of_the_Singapore_Government) under the Ministry of Communications (http://en.wikipedia.org/wiki/Ministry_of_Information,_Communications_and_the_Arts_%28Singapore%29). Prior to the consolidation, the Post Office Savings Bank Act of 1971 was passed to govern the structure and operational efficiency of the bank. In 1974, POSBank was transferred to become part of the Ministry of Finance (http://en.wikipedia.org/wiki/Ministry_of_Finance); Credit POSB Pte Ltd was established in the same year to provide custom-tailored loans relating to HDB housing ownership.
By 1976, POSBank had one million depositors, while deposits crossed the S$1 billion mark. In 1980, it introduced the Passcard, and set-up the Principal Branch. In 1981, its first Cash-On-Line ATM opened at the Newton Branch. In 1983, its headquarters were shifted to the new 8-storey complex, the POSBank Centre (http://en.wikipedia.org/w/index.php?title=POSBank_Centre&action=edit&redlink=1) at Bras Basah Road (http://en.wikipedia.org/wiki/Bras_Basah_Road). In 1984, the current account facility was introduced, and by 1986, deposits crossed the S$10 billion mark.
The Post Office Savings Bank was renamed as POSBank in March 1990. It was subsequently fully acquired by DBS Bank (http://en.wikipedia.org/wiki/DBS_Bank) on 16 November 1998 for S$ (http://en.wikipedia.org/wiki/Singapore_dollar)1.6 billion; at the same time, ceased to exist as a statutory board under the Ministry of Finance (http://en.wikipedia.org/wiki/Ministry_of_Finance_%28Singapore%29). POSBank still operates one of the highest number of bank branches in Singapore (http://en.wikipedia.org/wiki/Singapore), especially in the suburban neighbourhoods (http://en.wikipedia.org/wiki/Neighbourhood), and operates the highest number of ATM (http://en.wikipedia.org/wiki/Automated_teller_machines) outlets throughout Singapore. The integration of both banks allowed customers of either bank to share the facilities; DBS Bank depositors may use the Cash Deposit Machine installed islandwide in POSBank branches, likewise for POSBank depositors.
http://en.wikipedia.org/wiki/POSBank
TheOnlyGayInTheVillage
17-06-12, 19:36
I tried watching the chinese translation but the grammar and some words total wrong lol. Eg mint they translate to the mint flavor that mint wahahHah
Thx anyway
The Government took the conventional path in developing new skills and work attitudes to accommodate new economic strategies.
http://siteresources.worldbank.org/EDUCATION/Resources/278200-1121703274255/1439264-1153425508901/Development_Edu_Singapore_draft.pdf
Interest rates in Singapore closely follow the US rates and the money supply fluctuates in response to demand. With the tightening of the US monetary policy in 2006 the 3-month US$ SIBOR rose steadily to reach 5.36% by the end of the year. The domestic 3-month interbank rate followed this trend closely and settled to 3.44% by the end of the year. The longer term interest rates also followed a similar trend; the benchmark 10-year Singapore Government Securities (SGS) rate settled to 3.04 by the end of 2006. The retail interest rates, on the other hand, remained very stable with the average prime lending rate at 5.33% and the deposit rates below 1%. With 1% price inflation, the real interest rates on deposits were negative.
Interest rates in Singapore closely follow the US rates and the money supply fluctuates in response to demand. With the tightening of the US monetary policy in 2006 the 3-month US$ SIBOR rose steadily to reach 5.36% by the end of the year. The domestic 3-month interbank rate followed this trend closely and settled to 3.44% by the end of the year. The longer term interest rates also followed a similar trend; the benchmark 10-year Singapore Government Securities (SGS) rate settled to 3.04 by the end of 2006. The retail interest rates, on the other hand, remained very stable with the average prime lending rate at 5.33% and the deposit rates below 1%. With 1% price inflation, the real interest rates on deposits were negative.
http://courses.nus.edu.sg/course/ecstabey/Singapore%20Economy-Tilak.pdf
I won't be surprised some Europeans prefer Caribbean.
When I was travelling to London Canary Wharf, one European commented the talk new buildings: this is not our culture. So they prefer low rise (old) buildings.
By the way, from the entrance of Reflection to the high rise buildings near sea, it is a LONG walk.
Thanks,
Richard
According to then Prime Minister Lee Kuan Yew, the aim of Singaporean education in its early days was to “produce a good man and a useful citizen”. This first phase of education has been dubbed the “survival-driven” phase.
http://www.oecd.org/dataoecd/34/41/46581101.pdf
Efficiency-driven phase: 1979 to 1996
Ability-based, aspiration-driven phase: 1997 to the present day
At the school level, Singapore created a new educational vision,
“Thinking Schools, Learning Nation and “Teach Less, Learn More”.
Goh Chok Thong famously stated: “The wealth of a nation lies in its people.”
I won't be surprised some Europeans prefer Caribbean.
When I was travelling to London Canary Wharf, one European commented the talk new buildings: this is not our culture. So they prefer low rise (old) buildings.
By the way, from the entrance of Reflection to the high rise buildings near sea, it is a LONG walk.
Thanks,
Richard
When I was travelling to London Canary Wharf, one European commented the high new buildings: "this is not our culture." So they prefer low rise (old) buildings.
When I was travelling to London Canary Wharf, one European commented the high new buildings: "this is not our culture." So they prefer low rise (old) buildings.
When I am in France I also tell the French, Singaporean Like landed property in French and car make in Germany, the apartment they have in France with swimming pool is also not our culture.
According to then Prime Minister Lee Kuan Yew, the aim of Singaporean education in its early days was to “produce a good man and a useful citizen”. This first phase of education has been dubbed the “survival-driven” phase.
http://www.oecd.org/dataoecd/34/41/46581101.pdf
Efficiency-driven phase: 1979 to 1996
Ability-based, aspiration-driven phase: 1997 to the present day
At the school level, Singapore created a new educational vision,
“Thinking Schools, Learning Nation and “Teach Less, Learn More”.
Goh Chok Thong famously stated: “The wealth of a nation lies in its people.”
On hind sight, it is really true.
“The wealth of a nation lies in its people.”
More people = more wealth
Now I know why our population growth was so much in recent years.
I tried watching the chinese translation but the grammar and some words total wrong lol. Eg mint they translate to the mint flavor that mint wahahHah
Thx anyway
视频: Money As Debt 钱是债务 中文字幕版1
http://v.youku.com/v_show/id_XMTI5NzQxOTcy.html
鼻屎大國家
http://www.youtube.com/watch?v=oFQf-eMUtG4
I tried watching the chinese translation but the grammar and some words total wrong lol. Eg mint they translate to the mint flavor that mint wahahHah
Thx anyway
新加坡 香港最大的競爭對手1 (粵語版 )
http://www.youtube.com/watch?v=voxBRdxnnsI&feature=related
TheOnlyGayInTheVillage
17-06-12, 23:09
Many many thx dear bro Arcachon. I will hook up to big LED TV and show my dad tomorrow... Now old man sleep liao...
Can anyone tell me what does the school do to teach less so that the students can learn more?
The young child is still very young and how he can learn by himself if the teacher teach less?
“Teach Less, Learn More' just simply does not make any cow sense!
I can only understand the teacher teach more but it may not be 100% translated to all students. If you want to learn more, you have to teach even more and hope that all students can absorb as much as they can.
The maths just does not add up!:beats-me-man:
According to then Prime Minister Lee Kuan Yew, the aim of Singaporean education in its early days was to “produce a good man and a useful citizen”. This first phase of education has been dubbed the “survival-driven” phase.
http://www.oecd.org/dataoecd/34/41/46581101.pdf
Efficiency-driven phase: 1979 to 1996
Ability-based, aspiration-driven phase: 1997 to the present day
At the school level, Singapore created a new educational vision,
“Thinking Schools, Learning Nation and “Teach Less, Learn More”.
Goh Chok Thong famously stated: “The wealth of a nation lies in its people.”
Can anyone tell me what does the school do to teach less so that the students can learn more?
The young child is still very young and how he can learn by himself if the teacher teach less?
“Teach Less, Learn More' just simply does not make any cow sense!
I can only understand the teacher teach more but it may not be 100% translated to all students. If you want to learn more, you have to teach even more and hope that all students can absorb as much as they can.
The maths just does not add up!:beats-me-man:
Answer the Question and you will make some cow sense on “Teach Less, Learn More"
http://www.myhometown.sg/Portals/0/Member/pri%203.JPG
Answer the Question and you will make some cow sense on “Teach Less, Learn More"
http://www.myhometown.sg/Portals/0/Member/pri%203.JPG
Is this Da Vinci code? We need cryptography machine.
Answer the Question and you will make some cow sense on “Teach Less, Learn More"
http://www.myhometown.sg/Portals/0/Member/pri%203.JPG
your post always make one think.
i like :D:D
d=1345
e=2440
sum of 2 numbers - 15
is this PSLE question?
d=1345
e=2440
sum of 2 numbers - 15
is this PSLE question?
OMG, i just failed PSLE... :scared-5:
Nobody cares if you no got PLSE...or speaking good or writting the best, as long as you can make it.
Even better if you have good heart, upright values and compassion.
OMG, i just failed PSLE... :scared-5:
TheOnlyGayInTheVillage
18-06-12, 15:18
d=1345
e=2440
sum of 2 numbers - 15
is this PSLE question?
Ans is correct... But maybe explanation not v clear....
Diff of number at apex of each triangle from addition of both base numbers is 15.
Ie. 198+263-446=15
263+431-679=15
431+265-681=15
446+679-1110=15
Etc etc
15 is the agent's commission for each transaction up the pyramid. :scared-3:
http://www.razor.tv/site/servlet/segment/main/news/76992.html
actually, if practice enough IQ books, can usually identitfy the kind of IQ puzzles and how to solve it.
so practise hard before the MENSA test and you find it easy to go into the club.
actually, if practice enough IQ books, can usually identitfy the kind of IQ puzzles and how to solve it.
so practise hard before the MENSA test and you find it easy to go into the club.
After you go into the club then?
TheOnlyGayInTheVillage
19-06-12, 10:10
After you go into the club then?
Then can proudly shout at others Talk to my elitist hand!!!! Lol
To really make it without a reasonable academic foundation, one needs to be very skilled, very lucky or possess a unique skill or insight.
Let's be honest, how many people are actually like that.... most Asians find pursuing academic achievement a surer bet.... unfortunately the paper chase is inevitable.
Nobody cares if you no got PLSE...or speaking good or writting the best, as long as you can make it.
Even better if you have good heart, upright values and compassion.
Some American companies are doing the following tests:
IQ
Math
Personality
before one can get an interview.
Thanks,
Richard
PS. My agent has just called and suggested me to lower my rental asking from $3k to $2.8k. So the trend is clear now.
TheOnlyGayInTheVillage
19-06-12, 21:21
Some American companies are doing the following tests:
IQ
Math
Personality
before one can get an interview.
Thanks,
Richard
PS. My agent has just called and suggested me to lower my rental asking from $3k to $2.8k. So the trend is clear now.
Your agent is incompetent. PM me if u interested to work with my agent.
Your agent is incompetent. PM me if u interested to work with my agent.
wah carbuncle i may really need your agent's help one day.....
Anyway, an expat living in another unit of the same project came to view my unit last evening. He claimed that he landlord has asked his family to move. What he could offer is more than 1k below my asking =( He added that many of his fellow expat friends in the project are moving home for good ....:doh:
Agents are telling me that the budget given to middle mgt expats is now reduced to 5k ....
TheOnlyGayInTheVillage
19-06-12, 23:17
wah carbuncle i may really need your agent's help one day.....
Anyway, an expat living in another unit of the same project came to view my unit last evening. He claimed that he landlord has asked his family to move. What he could offer is more than 1k below my asking =( He added that many of his fellow expat friends in the project are moving home for good ....:doh:
Agents are telling me that the budget given to middle mgt expats is now reduced to 5k ....
Thats bad. How old is ur project? I m always here. Let me know when u need the agent contact.
Thats bad. How old is ur project? I m always here. Let me know when u need the agent contact.
Thanks thanks.... my project is about 8 yr old
Wish to consult all landlord experts here.. would you accept an offer of $500 more but tenant wants landlord to take care of all the utilities and internet bills?
My units is a 3BR+1 PC with 5 a/c units and 4 baths.
My thinking is unlikely the utilities bills will exceed $500, but i worry about the lack of ownership and responsibilities from the tenant in using my electrical appliances if i accept the agreement.
It will exceed $500 if the 5 a/c units are running just 8 hours a day. It also depends on the capacity of the a/c. Not uncommon to see expats to turn on a/c 24/7. :(
Wish to consult all landlord experts here.. would you accept an offer of $500 more but tenant wants landlord to take care of all the utilities and internet bills?
My units is a 3BR+1 PC with 5 a/c units and 4 baths.
My thinking is unlikely the utilities bills will exceed $500, but i worry about the lack of ownership and responsibilities from the tenant in using my electrical appliances if i accept the agreement.
It will exceed $500 if the 5 a/c units are running just 8 hours a day. It also depends on the capacity of the a/c. Not uncommon to see expats to turn on a/c 24/7. :(
Alright will reject the offer, thanks!
Wah! That could easily set you back by >$1000 pm if they on 24/7!
Not worth it! Ask for $1k at least! :beats-me-man:
Wish to consult all landlord experts here.. would you accept an offer of $500 more but tenant wants landlord to take care of all the utilities and internet bills?
My units is a 3BR+1 PC with 5 a/c units and 4 baths.
My thinking is unlikely the utilities bills will exceed $500, but i worry about the lack of ownership and responsibilities from the tenant in using my electrical appliances if i accept the agreement.
TheOnlyGayInTheVillage
20-06-12, 20:52
Even singtel data plan also no more unlimited liao. U shud avoid all u can eat...
Have had such experience before where tenant has to service the air-conditioner twice quarterly as they have them on 24/7.
Alright will reject the offer, thanks!
Have had such experience before where tenant has to service the air-conditioner twice quarterly as they have them on 24/7.
In most of my contract, the tenant would need to pay for the a/c servicing which is to be done every quarter.
Ok the offer is actually $500 more than my asking price and $1000 more than my best offer, but I hv already turned it down cos I don't wanna worry abt monthly utilities bills. May end up paying more on the repairs and maintenance.
Thanks to all bros here for your advices. I shall continue to wait for more offers.
In most of my contract, the tenant would need to pay for the a/c servicing which is to be done every quarter.
Ok the offer is actually $500 more than my asking price and $1000 more than my best offer, but I hv already turned it down cos I don't wanna worry abt monthly utilities bills. May end up paying more on the repairs and maintenance.
Thanks to all bros here for your advices. I shall continue to wait for more offers.
You can estimate the electricity bill by using the horsepower and multiply by the max hours of use and cost/kWh. I supppse 24 hr on might set up back by $1.5k a month and cause wear and tear on your air-con.
Please think in tenant's shoes.
Companies give them a limit to rent a place.
Utility bills normally cannot be claimed.
But landlord should be flexible enough:
to put a limit of S$500, anything more than that, tenant will pay.
Now win-win:
Landlord gets a good tenant;
Tenant gets Company to pay rental + utility.
Thanks,
Richard
Please think in tenant's shoes.
Companies give them a limit to rent a place.
Utility bills normally cannot be claimed.
But landlord should be flexible enough:
to put a limit of S$500, anything more than that, tenant will pay.
Now win-win:
Landlord gets a good tenant;
Tenant gets Company to pay rental + utility.
Thanks,
Richard
Correct me if I'm wrong.
If rent includes utility expenses, then this would be tax deductible as its not reimbursed by the tenant.
So from a tax perspective, it is advantageous to get a higher rental even if it means it's covering utility?
Richwang's suggestion of offering a cap on utility seems like win-win-win to me.
Wrong. The utility bill you are paying for the tenant is fully subjected to income tax from rental as it becomes part of income. Since it is part of income now, how can it be tax deductable? There is no place in IRAS statement where it says such utility bill can be tax deductable right after you get it as income? :beats-me-man:
Correct me if I'm wrong.
If rent includes utility expenses, then this would be tax deductible as its not reimbursed by the tenant.
So from a tax perspective, it is advantageous to get a higher rental even if it means it's covering utility?
Richwang's suggestion of offering a cap on utility seems like win-win-win to me.
Wrong. The utility bill you are paying for the tenant is fully subjected to income tax from rental as it becomes part of income. Since it is part of income now, how can it be tax deductable? There is no place in IRAS statement where it says such utility bill can be tax deductable right after you get it as income? :beats-me-man:
From IRAS website.
http://www.iras.gov.sg/irasHome/page04.aspx?id=160
Utility expenses
Claimable Expenses
Paid on behalf of tenant (as long as not reimbursed by tenant subsequently).
Non Claimable Expenses
Paid on behalf of tenant, but reimbursed by tenant subsequently.
Any experts can comment on what this means?
Thank you!
Reimbursed means cannot claim lah. :beats-me-man:
From IRAS website.
http://www.iras.gov.sg/irasHome/page04.aspx?id=160
Utility expenses
Claimable Expenses
Paid on behalf of tenant (as long as not reimbursed by tenant subsequently).
Non Claimable Expenses
Paid on behalf of tenant, but reimbursed by tenant subsequently.
Any experts can comment on what this means?
Thank you!
Reimbursed means cannot claim lah. :beats-me-man:
Using an eg that rental of $6K which include $500 for utility expense, and tenant pays the full $6k, I'll take it that the utility expense is not reimbursed.
Or is it referring to the tenant being reimbursed by his company subsequently and thus not tax deductible?
IRAS not stupid. You pay utility bill for tenant, and you think IRAS will believe that tenant didn't reimburse you?
Ok never mind, nobody will be so stupid to pay "unlimited bills" for tenant. So, say you want to protect yourself and you add a clause in tenancy agreement saying above $500 tenant need to further reimburse you, then you leave the trace that you are being reimbursed right? As long as the bill payment is agreement in tenancy agreement, anybody would reasonably conclude that this bill is already factored into the rental.
I have heard of tenants racking up >$2000 utility bills and >$500 telephone bills per month. Who dare to have a tenancy agreement where you will pay "unlimited utility and telephone bills" for tenant? :scared-1:
Using an eg that rental of $6K which include $500 for utility expense, and tenant pays the full $6k, I'll take it that the utility expense is not reimbursed.
Or is it referring to the tenant being reimbursed by his company subsequently and thus not tax deductible?
TheOnlyGayInTheVillage
20-06-12, 23:53
Moral of the story - more trouble than its worth.
On the first page of today's ST Money, it features an article showing some CCR project is only getting 1.9% rental yield.
When I read today's classified ads, 2 bedders at International Plaza is only asking for 3.9K.
This reminds me about the old days when Orchid Park 3 bedder was renting at 1.1k while HDB 4 RM at Yishun was still renting at 1k.
Let's hope we will not head into that direction: private rental drops to just slightly above HDB rental.
Maybe I will need to consider fire rent? To lower my asking from 2.8k to 2.6k.
Thanks,
Richard
On the first page of today's ST Money, it features an article showing some CCR project is only getting 1.9% rental yield.
When I read today's classified ads, 2 bedders at International Plaza is only asking for 3.9K.
This reminds me about the old days when Orchid Park 3 bedder was renting at 1.1k while HDB 4 RM at Yishun was still renting at 1k.
Let's hope we will not head into that direction: private rental drops to just slightly above HDB rental.
Maybe I will need to consider fire rent? To lower my asking from 2.8k to 2.6k.
Thanks,
Richard
CCR project 1.9% rental yield. Which CCR project and how it is calculate to 1.9% yield? If buy now sure 1.9% yield, if buy in 2006 than the yield will not be the same.
e.g Brought 2 Bedroom in Jun 2006 for $535,000. Rental per month $4100, 49,200 per year than yield will be 9.19%. If buy now for $1,460,000 than yield will be 3.36%.
phantom_opera
23-06-12, 22:33
HDB rental up ;)
On the first page of today's ST Money, it features an article showing some CCR project is only getting 1.9% rental yield.
When I read today's classified ads, 2 bedders at International Plaza is only asking for 3.9K.
This reminds me about the old days when Orchid Park 3 bedder was renting at 1.1k while HDB 4 RM at Yishun was still renting at 1k.
Let's hope we will not head into that direction: private rental drops to just slightly above HDB rental.
Maybe I will need to consider fire rent? To lower my asking from 2.8k to 2.6k.
Thanks,
Richard
I believe in simple economic theory. Demand and supply. If the property is on the market for a few weeks and still no offer, the asking rent is too high. drop it and the there will be some taker at some lower price point.
I dropped by asking from 3.6 to 3.5 and finally leased it out at 3.4 after 1.5 months.:(
On the first page of today's ST Money, it features an article showing some CCR project is only getting 1.9% rental yield.
When I read today's classified ads, 2 bedders at International Plaza is only asking for 3.9K.
This reminds me about the old days when Orchid Park 3 bedder was renting at 1.1k while HDB 4 RM at Yishun was still renting at 1k.
Let's hope we will not head into that direction: private rental drops to just slightly above HDB rental.
Maybe I will need to consider fire rent? To lower my asking from 2.8k to 2.6k.
Thanks,
Richard
Helios Residence buyer profile.
Southbank Buyer profile.
http://3.bp.blogspot.com/-IVb-pCONInk/T9zRfsr7mlI/AAAAAAAAHc8/BddaNhnGmpM/s1600/buyer+profile.JPG
http://2.bp.blogspot.com/--i5oq0XPpNc/T-XrKyItqHI/AAAAAAAAHdo/gqOsYMSRpcE/s1600/helios+Residence+buyer+8.1%25+HDB.JPGhttp://2.bp.blogspot.com/-9KyO1iUK2XI/T-Xr2p9oVLI/AAAAAAAAHdw/RBq2tX75ZSs/s1600/Southbank+buyer+profile.JPG
Southbank compare to Helios Residence
http://3.bp.blogspot.com/-IVb-pCONInk/T9zRfsr7mlI/AAAAAAAAHc8/BddaNhnGmpM/s1600/buyer+profile.JPGhttp://3.bp.blogspot.com/-xvAt-sze5gU/T-XpyuP0HUI/AAAAAAAAHdg/5P6RzW_qI_k/s1600/helios+Residence.JPG
From the 2 buyer profiles it seems to conclude that hdb buyers are smarter and they know how to compute projected rental yields better?
From the 2 buyer profiles it seems to conclude that hdb buyers are smarter and they know how to compute projected rental yields better?
The super rich do not need rental yield, they need a safe place to park their money and avoid tax.
phantom_opera
24-06-12, 08:51
From the 2 buyer profiles it seems to conclude that hdb buyers are smarter and they know how to compute projected rental yields better?
It is the quantum ... how many people stay in HDB can afford Hideous Residences?
BTW HDB rental yield is still around 5% at current market prices, assuming SIBOR stays at 0.4 till 2020, we will have 8y of 5% growth in prices assuming rental keeps going up 5% every year... take 190 as the HDB resale index, it will end at 307 :scared-4:
The super rich do not need rental yield, they need a safe place to park their money and avoid tax.
Like this post. :o
It's true super rich don't rent out their units.
They tend to pay 100% and decorate it nicely, and don't want others to touch it.
Just realized our Sis who just bought Bukit Indus is also behaving like the super rich. The rental would be something like RM 1.5k for RM 1M, that is 1.8% rental yield. She will say no need to take the risk. (strictly speaking, renting out is illegal. Non-Malaysia can only buy 1 unit for own stay.)
Super rich would consider top end property in Singapore is so cheap because they are comparing with the top end properties in New York, London, Mumbai, etc.
So congratulations! Sis! You are Super Rich in Bukit Indus.
Thanks,
Richard
phantom_opera
24-06-12, 13:09
It's true super rich don't rent out their units.
They tend to pay 100% and decorate it nicely, and don't want others to touch it.
Just realized our Sis who just bought Bukit Indus is also behaving like the super rich. The rental would be something like RM 1.5k for RM 1M, that is 1.8% rental yield. She will say no need to take the risk. (strictly speaking, renting out is illegal. Non-Malaysia can only buy 1 unit for own stay.)
Super rich would consider top end property in Singapore is so cheap because they are comparing with the top end properties in New York, London, Mumbai, etc.
So congratulations! Sis! You are Super Rich in Bukit Indus.
Thanks,
Richard
Where is Bukit Indus, do u mean Bukit Indah?!
It is the quantum ... how many people stay in HDB can afford Hideous Residences?
BTW HDB rental yield is still around 5% at current market prices, assuming SIBOR stays at 0.4 till 2020, we will have 8y of 5% growth in prices assuming rental keeps going up 5% every year... take 190 as the HDB resale index, it will end at 307 :scared-4:
Woah... 8.1% of Helios buyer has HDB address.
Sorry, my mistake. It should be
Bukit Indah
Tried google translate, it means:
Beautiful Hills
Nice name!
Thanks,
Richard
That borders on hard selling.
Helio is selling around 3-5M.
But don't be fooled by the HDB address thinking one can afford it with a 1k-10k income.
One of the possibilities could be private owners got en-bloc deal,
then moved temporarily into re-sale HDB.
Now they carry HDB address and buy luxury Helio.
It might even be their 2nd or 3rd private because the rule says:
keep your HDB (and can rent it out), then buy as many private as you want.
So the truth is:
Woah, 8.1% of Helio owners still own HDB!
Thanks,
Richard
The younger generation will need to wait longer for re-sale HDB price to go down.
What's so suprising. There was a sentosa bungalow sold to someone witha hdb address.
just rented out!
S$3k for 1 year.
I was trying to push for 2 years contract (2.8k), but no takers.
Thanks,
Richard
Yours is the pasir panjang property right? Job is also a little unstable now for foreign workers, so I suppose they are a little scare of long term commitment now. At least now you have 1 year of rental to tide over.
just rented out!
S$3k for 1 year.
I was trying to push for 2 years contract (2.8k), but no takers.
Thanks,
Richard
Congrats. Rent is up it seems.
Yeah i think rental is coming back.. i also managed to rent out my unit and its actually a better deal than the previous contract :sleep:
Yeah i think rental is coming back.. i also managed to rent out my unit and its actually a better deal than the previous contract :sleep:
Sounds good. At least rental is still okay. Prices wont collapse.
just rented out!
S$3k for 1 year.
I was trying to push for 2 years contract (2.8k), but no takers.
Thanks,
Richard
Just done and confirm over the weekend $2.8k for 2 years contract ($100 more then the last 1 year lease), usual Dipl clasue only after 12mths with 2mths notice, so 14mths at least secure, nice...
There were alot more rental enquiry over the last 1.5 weeks, seems like Q3 is always the hot period for tenants to look around.
It's true super rich don't rent out their units.
They tend to pay 100% and decorate it nicely, and don't want others to touch it.
Just realized our Sis who just bought Bukit Indus is also behaving like the super rich. The rental would be something like RM 1.5k for RM 1M, that is 1.8% rental yield. She will say no need to take the risk. (strictly speaking, renting out is illegal. Non-Malaysia can only buy 1 unit for own stay.)
Super rich would consider top end property in Singapore is so cheap because they are comparing with the top end properties in New York, London, Mumbai, etc.
So congratulations! Sis! You are Super Rich in Bukit Indus.
Thanks,
Richard
rent in Bukit Indah is quite decent as the area is well connected, has many amneties (banks, mall, cinema etc), near to Tuas 2nd link. My family collects RM1800 rent on a house that cost us RM410K, thats around 5% yield. 1.8% yield is way too low consdering the high mortgage interest in msia
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