View Full Version : Rental is definitely strong!
Just renewed the rental lease of my two mm units at the east (both in D15) over the mth of April. Rent up by about 10% and have at least 3 cheques being offered for each unit. in the end choose to let the current tenant renew (one unit the existing tenant offered the highest quote, the other unit is second highest). i still prefer tenants of certain nationality as the units are well-maintained and minimal cooking (boiling water counted as cooking? LOL).
Anyway, bottomline, rental mkt is still going strong here.
also depends when ur lease ends.. near yr end usually slower.
is there a clear trend which period of the year that most rental renewal or new contracts are being signed?
is there a clear trend which period of the year that most rental renewal or new contracts are being signed?
usually near yr end some tenants who's lease ends go back. they renew when they come after the new yr.
The BIG question is how will it be like 2 years
From now:cool:
I guess must distinguish the budget types & floor size as well.
proud owner
01-05-13, 15:44
Just renewed the rental lease of my two mm units at the east (both in D15) over the mth of April. Rent up by about 10% and have at least 3 cheques being offered for each unit. in the end choose to let the current tenant renew (one unit the existing tenant offered the highest quote, the other unit is second highest). i still prefer tenants of certain nationality as the units are well-maintained and minimal cooking (boiling water counted as cooking? LOL).
Anyway, bottomline, rental mkt is still going strong here.
care to share with us ..whats the floor size ... no of bedrooms .. and what was the previous rent amount ?
could it be that your last rent was below market ?
not being cynical but all info is impt and helpful
danke schon
i know rental is strong but looking at guru i wonder why there are 60k plus properties for rental...
http://www.propertyguru.com.sg/singapore-property-listing/property-for-rent/1
CondoInterested
01-05-13, 17:18
Just renewed the rental lease of my two mm units at the east (both in D15) over the mth of April. Rent up by about 10% and have at least 3 cheques being offered for each unit. in the end choose to let the current tenant renew (one unit the existing tenant offered the highest quote, the other unit is second highest). i still prefer tenants of certain nationality as the units are well-maintained and minimal cooking (boiling water counted as cooking? LOL).
Anyway, bottomline, rental mkt is still going strong here.Must learn from you, what nationality is preferred in terms of maintaining the house well?
Must learn from you, what nationality is preferred in terms of maintaining the house well?
6 letter word...ANGMOS:spliff:
but if u failed spelling in sch..u might end up with...NAIDNI:scared-1: :scared-1: :scared-1: ..god bless:D :D :D
you should divide by 3 or 4....:p
some agents just anyhow use others and then they do cobroke. i guess...:)
i know rental is strong but looking at guru i wonder why there are 60k plus properties for rental...
http://www.propertyguru.com.sg/singapore-property-listing/property-for-rent/1
Usually i will ask the current tenant whether to renew or not before open up viewing for other tenants.
blackjack21trader
01-05-13, 18:23
just a little while ago, i reminded brothers and sisters here. investing in HDB,BTO,EC or condo (let's called all these segments, apartment segment for convenience ) is anytime better than landed.
look at the current demand in the market, the number of people who are first time buyers in the apartment segment are still a lot. under the current Cooling Measures, this particular group is vaguely affected except they have to hold for 4 years or more.
But how many first time landed buyers are there ?
this is a very very simple fact, but even the professional property analysts can fail to see.
no point speculating in landed now. it is going to get worse.
but for the apartment segment, there is still ample room for expansion due to the sheer bulk of first time buyers in this segment and the rental potential/income stream.
Good Luck.
blackjack21trader
01-05-13, 18:30
Many do not understand the game of Poker.
In the game of Poker, because of the nature of the few players in the game and everyone is trying to put on a Poker face. It is really a game of RIGID.
By that I mean, the game can proceed as long as someone is not scared off the chair by the rest of the Poker faces. And the treasure chest could continue to pile up and up and everything seem so fine.
So fine, however,until it takes only one. Yes, one Poker face to end the game.
Landed is just like that. When that Poker comes, good luck.
Now you know why I am nicked Blackjack21.
blackjack21trader
01-05-13, 18:36
The apartment segment ( HDB.BTO,EC,private condos inclusive ) is however, like an American Football game ( Not soccer hor !).
In this game, one struck a Goal (just like a baseball ), but the game does not end there. Why ?
Because there are many opposing players in the game. This can make it turn any side according to the strength of the team.
This game I called it a FLEXIBLE GAME.
Good Luck.
Your Handsome Uncle.
blackjack21trader
01-05-13, 18:44
you find many "misplaced" buyers in landed.
by misplaced, I mean that this group of "misplaced" buyers who have bought a S$3,000,000 landed should have instead bought 2 condos instead of 1 landed. this is concluded by a casual inspection of their household income.
because in the very first place, they will be financially stronger holding 2 condo with lesser loans than one single asset with a big loan.
and they can diversify the risks better with 2 condos using rental incomes than one landed with no rental.
Good Luck.
blackjack21trader
01-05-13, 18:48
you find many "misplaced" buyers in landed.
by misplaced, I mean that this group of "misplaced" buyers who have bought a S$3,000,000 landed should have instead bought 2 condos instead of 1 landed. this is concluded by a casual inspection of their household income.
because in the very first place, they will be financially stronger holding 2 condo with lesser loans than one single asset with a big loan.
and they can diversify the risks better with 2 condos using rental incomes than one landed with no rental.
Good Luck.
of cos, if you owned more than 2 property now, this will not work for you anymore under the new CMs.
which takes us back to my first argument above: that buying an apartment is better than a landed.
Landed prices really run up too much... In the past landed traditionally lags condos thoughtout history.... I believe it will revert back to the norm of the past...
Coz, landed only open to local market... Now with all the noise, gahmen has tighten up approval for PR to buy landed sp demand will slow
With the huge run up in prices, easily 3m and up per landed, locals not so rich to buy
And only locals w bigger families will buy landed and the number of big local families are shrinking so again demand will drop
No speculation in landed will cause prices to be stagnant and over time condo prices will increase more and the historical trend will again prevail
Holding cost of landed high and rental yield low, here, it will again revert to a market meant for own stay and prices will flatten... This is the same as why CCR condo prices never go up these last three years coz quantum too big, yield bad...
But for CCR condo there will cone a time when foreigners will cone back to invest in CCR properties again but they cannot invest in landed
care to share with us ..whats the floor size ... no of bedrooms .. and what was the previous rent amount ?
could it be that your last rent was below market ?
not being cynical but all info is impt and helpful
danke schonYou could be right though. mine are mm. One is 3xx sqft (previous rent 2.65k), the other is 4xxsqft (previous rent 2.9k). both proper 1 bedroom.
of cos, if you owned more than 2 property now, this will not work for you anymore under the new CMs.
which takes us back to my first argument above: that buying an apartment is better than a landed.
oh highly respected brother Bj21...your words are truly WORDS of wisdom...day and night i have been thinking of what u say about landed and i really BELIEVE you have a 3rd eye....if i have 3million dollars CASH would i buy a single storey ULU terrace or 3 x 1million OCR apts 1 to stay and 2 to rent and earn passive income....the answer is TRULY clear to me now thanks to YOUR incessant CONDEMNATION of buying landed property.....whahahaha:D :D :D
NB:This my OWN personal view and i dont have 3miilion SGD...only 3million INDO rupiah....:spliff2: i got
you find many "misplaced" buyers in landed.
by misplaced, I mean that this group of "misplaced" buyers who have bought a S$3,000,000 landed should have instead bought 2 condos instead of 1 landed. this is concluded by a casual inspection of their household income.
because in the very first place, they will be financially stronger holding 2 condo with lesser loans than one single asset with a big loan.
and they can diversify the risks better with 2 condos using rental incomes than one landed with no rental.
Good Luck.If I have the extra $3m, I would have purchased 4 more shoebox units. Easily close to $12000 rental per mth.
You could be right though. mine are mm. One is 3xx sqft (previous rent 2.65k), the other is 4xxsqft (previous rent 2.9k). both proper 1 bedroom.
Not a bad income... Congratulation bro
i still prefer tenants of certain nationality as the units are well-maintained and minimal cooking (boiling water counted as cooking? LOL).
Please share which nationality is ideal? thanks.
Bro BlackJack, I salute you. You are really a wise man. My friend has problem in renting out his landed but no problem renting out his 2 condos. I presume that landed has no facilities while condo has, that's why demand for apartment segment is greater.
landed must be new new nice nice then got tenant. if major rebuilding going on next door.... tough luck. landed is for self stay and not really for rental.
and landed tax higher. so better self stay.
agree, i cant imagine anybody would buy landed to rent out...might have but i think very rare looking at the yield...:o
it is a different segment altogether and dont think a first timer would plunge into it. more for ppl who want to upgrade or need the large builtup area or prefer more space and just hang on for capital appreciation. So the demand would come from a different pool. as long as the economy is ok, the price will uphold. unlike Condo, it is very much affected by demand from foreigners as well.
i think future trend.....go for cluster landed! with space & facilities. :2cents:
cluster landed seems to command much higher rental.
landed must be new new nice nice then got tenant. if major rebuilding going on next door.... tough luck. landed is for self stay and not really for rental.
Please share which nationality is ideal? thanks.
Mr keh i indian i dont like indian some bro chinese dont like people from cina how to say every nationality got good n bad la personally i got 2 indian tenant before 1 super good i super:simmering: ok la let others advice i small timer:D
agree, i cant imagine anybody would buy landed to rent out...might have but i think very rare looking at the yield...:o
it is a different segment altogether and dont think a first timer would plunge into it. more for ppl who want to upgrade or need the large builtup area or prefer more space and just hang on for capital appreciation. So the demand would come from a different pool. as long as the economy is ok, the price will uphold. unlike Condo, it is very much affected by demand from foreigners as well.
i think future trend.....go for cluster landed! with space & facilities. :2cents:
cluster landed seems to command much higher rental.
nowadays, the cluster landed like staring straight into your neighbours living room or bed room. have to find those where you don't have a immediate neighbour staring into your house. and those sometimes ends up being the units facing the main drive way... no win. lol.
actually no diff la, you look at some of the current condo development, each tower so close...
nowadays, the cluster landed like staring straight into your neighbours living room or bed room. have to find those where you don't have a immediate neighbour staring into your house. and those sometimes ends up being the units facing the main drive way... no win. lol.
Condo got a drain, I mean lap pool, heh, separating the blocks. Cluster only got one walkway in front not wider than 5m. At the backyard they share a wall with the neighbour behind.
nowadays, the cluster landed like staring straight into your neighbours living room or bed room. have to find those where you don't have a immediate neighbour staring into your house. and those sometimes ends up being the units facing the main drive way... no win. lol.
there is always the curtain to use to shield away unwanted attention.
there is always the curtain to use to shield away unwanted attention.
and earplugs to shield noise:D
haha, i know what u mean....they have a high wall which is shared. and the walkway are normally not wide. but there are some nice project which the walkway are wider with a lot of plants like jungle or they have backyard wall that is not shared...:D
Condo got a drain, I mean lap pool, heh, separating the blocks. Cluster only got one walkway in front not wider than 5m. At the backyard they share a wall with the neighbour behind.
agree, i cant imagine anybody would buy landed to rent out...might have but i think very rare looking at the yield...:o
Actually my friend stays in this landed for many many years. The reason why he wants to rent out his landed is because he wants to enjoy the facilities that the condo has (eg swimming and gym). So he thought of shifting to the newly bought condo and rent out his landed.
proud owner
02-05-13, 16:08
nowadays, the cluster landed like staring straight into your neighbours living room or bed room. have to find those where you don't have a immediate neighbour staring into your house. and those sometimes ends up being the units facing the main drive way... no win. lol.
my friend's cluster at prime D15 ...
his neighbor opposite jump into the pool ...the water and wave can splash onto his side of the pool landing which is my 2 meter out from his living room
knn ...
proud owner
02-05-13, 16:10
I want to add that
I always respect bro BJ21 ..
but dunno why he posted his landed view on a thread talking about rental ...
maybe he meant to post it on DONT TALK UP LANDED
I want to add that
I always respect bro BJ21 ..
but dunno why he posted his landed view on a thread talking about rental ...
maybe he meant to post it on DONT TALK UP LANDED
bj21 sometimes does weird things when he does not take his medicine:D:D:D
Just renewed the rental lease of my two mm units at the east (both in D15) over the mth of April. Rent up by about 10% and have at least 3 cheques being offered for each unit. in the end choose to let the current tenant renew (one unit the existing tenant offered the highest quote, the other unit is second highest). i still prefer tenants of certain nationality as the units are well-maintained and minimal cooking (boiling water counted as cooking? LOL).
Anyway, bottomline, rental mkt is still going strong here.
can PM me which project is this n the size, rents before n after? I wana learn :D
Can any one advise where can i find report that the rental market is still going strong...
starrynight
23-05-13, 14:00
TBH, I think CCR and RCR rentals are softening. My best friend's place in Bt. Timah just leased out at 12% lower than 2 years ago, and it look around 3/4 weeks to find a tenant. 3 year old condo.
Not sure about suburban.
Can any one advise where can i find report that the rental market is still going strong...
TBH, I think CCR and RCR rentals are softening. My best friend's place in Bt. Timah just leased out at 12% lower than 2 years ago, and it look around 3/4 weeks to find a tenant. 3 year old condo.
Not sure about suburban.
My relative asked me and I thought friends here might know where to get...
She is renewing rental and tenant asked her to show data to prove rental is moving up as she has proposed a 8% increased...
:tongue3:
Rental webpage of URA website is the most impartial.
My relative asked me and I thought friends here might know where to get...
She is renewing rental and tenant asked her to show data to prove rental is moving up as she has proposed a 8% increased...
:tongue3:
I proposed 12% rent increase, in the end negotiate to 9%. I think still have meat, but must make sure your unit fits your tenants requirements.
Where got need to prove to tenant one? Just tell the tenant, you want take it, you don't want, just leave it! Ask tenant can start to find another place to go! :p
My relative asked me and I thought friends here might know where to get...
She is renewing rental and tenant asked her to show data to prove rental is moving up as she has proposed a 8% increased...
:tongue3:
TBH, I think CCR and RCR rentals are softening. My best friend's place in Bt. Timah just leased out at 12% lower than 2 years ago, and it look around 3/4 weeks to find a tenant. 3 year old condo.
Not sure about suburban.
bt timah is ulu compared to your place at rivergate. so many development at cebtral area, of course bt timah rent weak.
exactly. ai lai mai sua! u r the landlord. u call the shots!
I have asked my tenants to view the URA rental data. The data is only indicative as each unit is unique in facing, furnishing, etc. Not sure about bukit timah. My recent rental renewal of two properties has all gone up by 20-25% compared to two years ago.
phantom_opera
24-05-13, 13:23
I have asked my tenants to view the URA rental data. The data is only indicative as each unit is unique in facing, furnishing, etc. Not sure about bukit timah. My recent rental renewal of two properties has all gone up by 20-25% compared to two years ago.
your tenants very rich can stomach such increase ;)
but I heard ICA is sending troops of foreigners home and HDB rental + low end mass market is already affected (flat/softening)
They are in financial sector as Director and SVP. One has been there for the last 4 years. They said is the convenience to workplace, eateries and supermarkets.
your tenants very rich can stomach such increase ;)
but I heard ICA is sending troops of foreigners home and HDB rental + low end mass market is already affected (flat/softening)
starrynight
24-05-13, 18:24
Different strokes for different folks I guess.
For my unit, it was a corporate lease, and I knew that it would make life easier for me and for my tenant if he was able to justify to his company the proposed increase. So I did a short list of bullet points, including:
a. rental amounts from URA data
b. asking prices on Pptyguru
c. asking prices at comparable properties
I believe in helping people to help me :D
Where got need to prove to tenant one? Just tell the tenant, you want take it, you don't want, just leave it! Ask tenant can start to find another place to go! :p
starrynight
24-05-13, 18:29
Another friend just said that it took him 3 months to rent out his ground floor unit at Linear (upper upper upper bt timah). That said, the MRT construction just outside Linear is nasty...
bt timah is ulu compared to your place at rivergate. so many development at cebtral area, of course bt timah rent weak.
Another friend just said that it took him 3 months to rent out his ground floor unit at Linear (upper upper upper bt timah). That said, the MRT construction just outside Linear is nasty...
It is the most amazing place for residential use... This project cannot be used to gauge the overall rental demand...
It is the most amazing place for residential use... This project cannot be used to gauge the overall rental demand...
the single most exciting thing about linear is its proximity to:D:D:D
http://www.karusindianrestaurant.com/
starrynight
26-05-13, 14:39
The food is very good?
the single most exciting thing about linear is its proximity to:D:D:D
http://www.karusindianrestaurant.com/
Just got a rental offer from an expat for a OCR unit with 20% more than the existing one. Rental seems to remain strong.
lucky to find good tenants.
starrynight
29-05-13, 13:29
Congrats! :)
My friend's Bt. Timah lease fell through, and she has just gone for almost 2 weeks without a single offer. I asked her if she is using just 1 agent, and she said she's got 4(!).
Just got a rental offer from an expat for a OCR unit with 20% more than the existing one. Rental seems to remain strong.
Just renewed D2 2 bedder from 4.5k to 5k:D
Congrats! :)
My friend's Bt. Timah lease fell through, and she has just gone for almost 2 weeks without a single offer. I asked her if she is using just 1 agent, and she said she's got 4(!).
Maybe it's project age, furnishing or price?
starrynight
30-05-13, 09:31
Aiyah, a bit hard to go into details cos not my place, but less than 4 years old, decent furnishing, good developer. As for the price, I think my friend is at the "beggers cannot be choosers" stage already :o
Maybe it's project age, furnishing or price?
All the older condo are in a disadvantage now as tenant sign up for new condo.
Congrats! :)
My friend's Bt. Timah lease fell through, and she has just gone for almost 2 weeks without a single offer. I asked her if she is using just 1 agent, and she said she's got 4(!).
It is not a secret that the rental at Bukit Timah road does not match its price and fame.
maybe, too many supply?
thomastansb
30-05-13, 09:56
Maybe no MRT?
It is not a secret that the rental at Bukit Timah road does not match its price and fame.
maybe, too many supply?
Maybe no MRT?
Maybe it's the Downtown Line construction? The traffic jams are terrible at peak hours.
Maybe it's the Downtown Line construction? The traffic jams are terrible at peak hours.
terrible is an understatement more like horrible:scared-3:
There's also the chikugunya fever. Here's from my newfeed this morning:
Title: Entire family struck with chikungunya
Writer: Ng Wan Ching
Highlights: - This article reports on the experience of Dr George Khoo, a resident of the Bukit Timah area, whose whole family was struck down with chikungunya. Dr Khoo’s daughter, Dr Daphne Khoo, is the chief medical officer of Fortis Healthcare International.
- She and her parents are among at least 14 people living or working in the upscale area covering Fifth Avenue and Sixth Avenue, off Bukit Timah Road, who have been infected with chikungunya this year. Till today, Dr Daphne Khoo has residual arthritis (joint inflammation) in her ankles, knees and wrists.
- Dr Mukund Doshi, a specialist in internal medicine at Parkway East Hospital, is quoted as saying that the arthritis is caused by the body's immune response when the virus invades the joints.
My place is also around bukit timah but 15 years old. Demand is still there as there is quite good offer after several viewings. Did your agent use propertguru to market it?
Aiyah, a bit hard to go into details cos not my place, but less than 4 years old, decent furnishing, good developer. As for the price, I think my friend is at the "beggers cannot be choosers" stage already :o
starrynight
30-05-13, 14:32
Yup, boss. My friend is insisting on a corp lease, but that can't be the reason right?
I did drive past my friend's condo last month, and there was moss / algae on the white walls. A bit of a turn-off :p
My place is also around bukit timah but 15 years old. Demand is still there as there is quite good offer after several viewings. Did your agent use propertguru to market it?
Moss/algae is quite the problem in the Bukit Timah area. It's the price of being close to nature. Furthermore, my phone wires keep getting corroded because of the dampness.
Yup, boss. My friend is insisting on a corp lease, but that can't be the reason right?
I did drive past my friend's condo last month, and there was moss / algae on the white walls. A bit of a turn-off :p
Moss/algae is quite the problem in the Bukit Timah area. It's the price of being close to nature. Furthermore, my phone wires keep getting corroded because of the dampness.
SingTel won't be replacing or repairing the wires. They want people to switch over to fibre broadband. I have this problem too. I don't live in Bukit Timah but I do live right next to the forest in a reservoir catchment area.
My place rented out two weeks ago with a 20% increase ini rent. Rental is certainly strong.n:D
Yup, boss. My friend is insisting on a corp lease, but that can't be the reason right?
I did drive past my friend's condo last month, and there was moss / algae on the white walls. A bit of a turn-off :p
starrynight
28-06-13, 22:20
Congrats!
Can say where your place is?
My place rented out two weeks ago with a 20% increase ini rent. Rental is certainly strong.n:D
SingTel won't be replacing or repairing the wires. They want people to switch over to fibre broadband. I have this problem too. I don't live in Bukit Timah but I do live right next to the forest in a reservoir catchment area.
Meadows at Peirce?
Congrats!
Can say where your place is?
Southbank?
thomastansb
29-06-13, 13:04
Southbank and Citylights are really having super super strong rental. Those city fringe condos with MRT really super rental.
Southbank?
Southbank and Citylights are really having super super strong rental. Those city fringe condos with MRT really super rental.
Due to high property price and restriction on buying, more people apt for renting. Rental value in Shanghai is also slowly rising. Due to slower property development activities in the last 2 years, the current residential stock volume is deminishing, prompting many developers to speed up its supple recently.
An old cond at Bukit Timah area.
Congrats!
Can say where your place is?
My tenant just renewed another 2yrs, tried to up 10% but agent told me he has 6 empty units on hand waiting to lease :doh:
So I just maintain my rent at $8psf. My unit in D1.
My tenant just renewed another 2yrs, tried to up 10% but agent told me he has 6 empty units on hand waiting to lease :doh:
So I just maintain my rent at $8psf. My unit in D1.
$8psf is very good liao still wanna up? You are very greedy leh, like ur $500k thread.
Meadows at Peirce?
Nope Meadows is a new devt and a condo. Will be no problem with phone lines there. My current abode is an old landed bungalow in a sparsely populated area. Surrounded by nature reserve except for one immediate neighbour.
Nope Meadows is a new devt and a condo. Will be no problem with phone lines there. My current abode is an old landed bungalow in a sparsely populated area. Surrounded by nature reserve except for one immediate neighbour.
Thats way too cool!!!
I dont think ive ever visited one in my entire life time.
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