View Full Version : Rentals for completed shoebox
Recent months, there are few projects that had TOP. Would like to know from brothers here how was the rental and how many bros managed to rent out their units? What is the rental for 506 sqf and below? What is the time frame for you to find a tenant?
Cause Developers have been slashing prices and yet those completed shoebox projects are still holding firm on their initial prices. They would rather hold then give slight discount. Understand that interest rates is still low but why hold on when can use the money generated from sale to invest on others. Now everyone holding, when more projects TOP then start to panic and cut throat on the prices cos oversupply of shoebox units. That will only make things worst. Foreigners will have the last laugh while locals will be struggling to ever have a dream of owning a private.
Recent months, there are few projects that had TOP. Would like to know from brothers here how was the rental and how many bros managed to rent out their units? What is the rental for 506 sqf and below? What is the time frame for you to find a tenant?
Cause Developers have been slashing prices and yet those completed shoebox projects are still holding firm on their initial prices. They would rather hold then give slight discount. Understand that interest rates is still low but why hold on when can use the money generated from sale to invest on others. Now everyone holding, when more projects TOP then start to panic and cut throat on the prices cos oversupply of shoebox units. That will only make things worst. Foreigners will have the last laugh while locals will be struggling to ever have a dream of owning a private.
Rented my 366sqft out for $2900. at river valley. white goods, and throw in TV.
Rented my 366sqft out for $2900. at river valley. white goods, and throw in TV.
Wow. Which development is it? V good rental
Rented my 366sqft out for $2900. at river valley. white goods, and throw in TV.
I think it is also! Rental yield super good. Can rent whole 4room hdb Liao. Good invest bro leesg123!
I think it is also! Rental yield super good. Can rent whole 4room hdb Liao. Good invest bro leesg123!
How did you conclude that? Leesg123 What was the purchase price?
How did you conclude that? Leesg123 What was the purchase price?
Ermmmm. 2900/mth mah. If he loaned 800k from interest last time shld be low (if he secured a 3/5yr contract) so now he is like repaying ard 2500 then still can earn 400. That's my amateur calculation. Cos I expect a rental for shoebox unit to be ard 1800-2500/mth
walkthetiger
06-06-14, 16:56
Ermmmm. 2900/mth mah. If he loaned 800k from interest last time shld be low (if he secured a 3/5yr contract) so now he is like repaying ard 2500 then still can earn 400. That's my amateur calculation. Cos I expect a rental for shoebox unit to be ard 1800-2500/mth
Tax? Monthly fee? $2900 rental sustainable? $2500 repayment is not fix; interest rate increasing.
That's the main point! So many cost to incur. And soon more shoebox units will surface. Then everyone will be looking for tenants. I'm just curious why some could have earn now rather than wait till when more shoebox TOP then here slash there slash prices. Making shoebox units so worthless. Then everyone cbcb garment why build so many shoebox. I feel so stress and pity for the garment. No matter what they do, they are wrong.
Allthepies
06-06-14, 17:36
That's the main point! So many cost to incur. And soon more shoebox units will surface. Then everyone will be looking for tenants. I'm just curious why some could have earn now rather than wait till when more shoebox TOP then here slash there slash prices. Making shoebox units so worthless. Then everyone cbcb garment why build so many shoebox. I feel so stress and pity for the garment. No matter what they do, they are wrong.
Only when u Buy shoebox at wrong place will u suffer... This applies to buying 2/3 bedders at wrong place too...
walkthetiger
06-06-14, 17:55
That's the main point! So many cost to incur. And soon more shoebox units will surface. Then everyone will be looking for tenants. I'm just curious why some could have earn now rather than wait till when more shoebox TOP then here slash there slash prices. Making shoebox units so worthless. Then everyone cbcb garment why build so many shoebox. I feel so stress and pity for the garment. No matter what they do, they are wrong.
Haha....Just let the buyers and sellers to decide the value of their PC shoebox... If those owners think their PC shoebox worth more than your offer price, suggest you leave them alone. It is still early, so most of the owners can afford to hold without much problem now.
Haha....Just let the buyers and sellers to decide the value of their PC shoebox... If those owners think their PC shoebox worth more than your offer price, suggest you leave them alone. It is still early, so most of the owners can afford to hold without much problem now.
It is obvious that over next 2-3 years it's gonna be oversupply. Then to hold now, he has to hold another 3-5 years for the price to recover again. I'm so troubled because I want to get one for own stay and not investment. That's y very pek cek. Not that I'm looking for 10% disc. Anything ard 1280-1300/sqf for areas like sembawang yishun woodlands I sure buy.
It is obvious that over next 2-3 years it's gonna be oversupply. Then to hold now, he has to hold another 3-5 years for the price to recover again. I'm so troubled because I want to get one for own stay and not investment. That's y very pek cek. Not that I'm looking for 10% disc. Anything ard 1280-1300/sqf for areas like sembawang yishun woodlands I sure buy.
But the area (North) you stated seems more suitable for larger units. MMs are very very untested over there. In fact, relatively few private developments there as compared to Northeast, East and Southwest.
When they start to build MM there I am sure you can get for max 1280 psf.
It is obvious that over next 2-3 years it's gonna be oversupply. Then to hold now, he has to hold another 3-5 years for the price to recover again. I'm so troubled because I want to get one for own stay and not investment. That's y very pek cek. Not that I'm looking for 10% disc. Anything ard 1280-1300/sqf for areas like sembawang yishun woodlands I sure buy.
Resident profile changing. MM strongly meets the needs of modern and future living, especially in a high tech environment where land is scarce, single imports and residents or those married without kids, high number of retirees.
If not you won't feel so pek cek.
Govt also rushing to build these kinds of units to meet the demand in future.
Of course still building conventional units to encourage family life. But by and large, supply has met demands there.
walkthetiger
06-06-14, 18:42
It is obvious that over next 2-3 years it's gonna be oversupply. Then to hold now, he has to hold another 3-5 years for the price to recover again. I'm so troubled because I want to get one for own stay and not investment. That's y very pek cek. Not that I'm looking for 10% disc. Anything ard 1280-1300/sqf for areas like sembawang yishun woodlands I sure buy.
That is the problem when Property gathered enough momentum at runaway speed, it takes careful effort and long time to slow it down, going backward will be even longer time....
Ermmmm. 2900/mth mah. If he loaned 800k from interest last time shld be low (if he secured a 3/5yr contract) so now he is like repaying ard 2500 then still can earn 400. That's my amateur calculation. Cos I expect a rental for shoebox unit to be ard 1800-2500/mth
I pay $1k for mortgage due to cooling measure requiring me to put in more capital and less loan. Some rented out for $3.1k some for $2.6k. It depends on timing and owner. A landlord offered $2.6k may not be worse than another one who rejects it and accept an offer of $2.8k 2 months later ( 2 mths loss income).
I pay $1k for mortgage due to cooling measure requiring me to put in more capital and less loan. Some rented out for $3.1k some for $2.6k. It depends on timing and owner. A landlord offered $2.6k may not be worse than another one who rejects it and accept an offer of $2.8k 2 months later ( 2 mths loss income).
Agree. If can get a reasonable offer and if the tenant is good, no harm accepting it instead of because of $100 or $200 and need to wait for another few months but if you are lucky enough, maybe the next offer is just 1 or 2 days later but who knows.;)
Agree. If can get a reasonable offer and if the tenant is good, no harm accepting it instead of because of $100 or $200 and need to wait for another few months but if you are lucky enough, maybe the next offer is just 1 or 2 days later but who knows.;)
I asked 2.7k my tenant says 2.6k.
I said OK lah, great yield better than most other available instruments.
I asked 2.7k my tenant says 2.6k.
I said OK lah, great yield better than most other available instruments.
Yup, I learn a lesson, so to share my experience with the 1st timer landlord here. During TOP, the rental market was still good, it could rent out 2.7k to 2.8k. Someone offered me 2.55k but I rejected. 1 month later, someone offered me 2.6k, I told him that I would let him know the next day because I had another offered. In the end, this tenant rented from another owner. Then another month later, someone offered me 2.8k but I rejected also because I found him a bit fishy. In the end, I rent out to an Indian couple from North India for 2.5k but I'm happy with it because I like them, a soft-spoken couple.:D I was thinking no point dragging on and on for just $100 to $200 difference, in the end, you end up losing 2 to 3 mths rental. But of course, if you are lucky enough, you could get the offer that you want even after few rejections but unfortunately, I'm not in the group lor.:(
Thanks for sharing, Iris ;) So much to consider in renting out our unit, me a 1st timer landlord too.
My shoebox will be ready soon, am cracking my head if I should rent it out or move in and rent my hdb out.
Thanks for sharing, Iris ;) So much to consider in renting out our unit, me a 1st timer landlord too.
My shoebox will be ready soon, am cracking my head if I should rent it out or move in and rent my hdb out.
Haha, I have the same problem as you too when I bought my shoebox, don't know for self-stay or rental. In the end, I choose to rent out because of my children, we need a bigger space currently.
One thing if you decide to stay in your new shoebox, you must consider about the space whether are you able to store all your things, if you have lots of things, there might be some storage problem. My shoebox's neighbour has this problem, she rented out her 3 room HDB flat and shifted here. Her things are all over the place, storeroom, bedroom and living room, not much space to walk.
Just a question guys, for studio apartment rental, which areas Singapore are these tenants eyeing for usually?
Just a question guys, for studio apartment rental, which areas Singapore are these tenants eyeing for usually?
Traditionally River Valley and CBD (Tanjong Pagar). Many stay at Orchard too with the new MMs coming up (devonshire/sophia etc.).
Competition for tenants will become tougher in CBD because of massive new supply coming up. My feeling is that you want to invest, RV and Orchard is probably better due to limited supply and freehold status.
Thanks for sharing, Iris ;) So much to consider in renting out our unit, me a 1st timer landlord too.
My shoebox will be ready soon, am cracking my head if I should rent it out or move in and rent my hdb out.
Move in to stay for a few nights while waiting for tenant to sign contract :)
Only when u Buy shoebox at wrong place will u suffer... This applies to buying 2/3 bedders at wrong place too...
If buying just next to an international school in ocr..is it wise?
It is obvious that over next 2-3 years it's gonna be oversupply. Then to hold now, he has to hold another 3-5 years for the price to recover again. I'm so troubled because I want to get one for own stay and not investment. That's y very pek cek. Not that I'm looking for 10% disc. Anything ard 1280-1300/sqf for areas like sembawang yishun woodlands I sure buy.
Think.in pasir.ris still have lei..
Allthepies
10-06-14, 08:03
If buying just next to an international school in ocr..is it wise?
2 bedder shld be ok...if there mrt even better
2 bedder shld be ok...if there mrt even better
Yes..will have in future..Dun think the price has factored in mrt yet..but strangely the sales not brisk...
Hi, I am a genuine local looking to rent a 1 bedroom or Studio apartment in the East.
Any homeowners who are interested, please feel free to PM me here. Strictly NO agents please. Thank you.
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