How is the rental market now?

[Property_Owner]

I dun feel it's picking up yet.
Any comments?

[sfwoo]

A friend's lease is ending in 2 months.
Her landlord is asking for $3600 pm.
She is currently paying $2950 pm.
So, she is going to move out.

Agent say still got a lot of clients/tenants, just that some people may not like them, many considerations. Eg. some people rather leave unit empty then rent to certain nationalities.

[sfwoo]

I think it pays to be patient for landlords.
Because potential tenants are looking for a bargain all the time.
3 bedroom nice condo, 1238 sqft, got people offer me $1600 pm last year.
Agents also dun really bother, they just want to close deal and move on.
Time is money for the agents.

[silver023]

Rents seemed to have headed further north over the past few weeks.

$2500 for a 2 bedder apartment/condo seems like a decent budget early May. But now, can't get peanuts.

There was previously a 2 bedroom unit in One Amber asking $2500, now $4000 (probably coz more units TOP)

[august]

no idea leh ......

[BillyCutie]

Certainly better. I was leasing my 2 TOP units this year. The going was slow around Dec-Feb. Was able to leased out my 2+1 at $4k. Followed by my 3+1 just last month at much better rate. And guess what? I have been receiving enquiries ever since.

[bargain hunter]

maybe need to differentiate between CCR and non CCR because there are more completions coming up in CCR in H2 2010 and 2011 while there are more units completing in other regions only from 2012? Also, my guess is there are more units in CCR which will be up for rent when completed while there are more units for own stay for the other 2 regions.

So perhaps rent is picking up more in non CCR while CCR is remaining more flattish but still with an upside bias.




I dun feel it's picking up yet.
Any comments?

[moneyspinner]

Certainly better. I was leasing my 2 TOP units this year. The going was slow around Dec-Feb. Was able to leased out my 2+1 at $4k. Followed by my 3+1 just last month at much better rate. And guess what? I have been receiving enquiries ever since.

To get a better feel, are your units CCR or OCR?

[BillyCutie]

Mine are in D5.

[Property_Owner]

maybe need to differentiate between CCR and non CCR because there are more completions coming up in CCR in H2 2010 and 2011 while there are more units completing in other regions only from 2012? Also, my guess is there are more units in CCR which will be up for rent when completed while there are more units for own stay for the other 2 regions.

So perhaps rent is picking up more in non CCR while CCR is remaining more flattish but still with an upside bias.

My CCR just TOP, still vacant...

[moneyspinner]

My CCR just TOP, still vacant...

Guess it may take up to about 6 months to land a suitable tenant. Again all depends on the condition of the rental market and the inflow of expats. Normally new condos are easier to find tenants.

[proud owner]

Certainly better. I was leasing my 2 TOP units this year. The going was slow around Dec-Feb. Was able to leased out my 2+1 at $4k. Followed by my 3+1 just last month at much better rate. And guess what? I have been receiving enquiries ever since.


thats good

D5 great

i have been telling people since last yr that D15 is better than D5 and taht D15 rental is good .. now that you have proof ..i am glad i dont have to argue again ..

D5 rental is really good

[proud owner]

My CCR just TOP, still vacant...

i think the mentality of many tenants now is this ...

a 2000 sqft in D9/10/11 asking say 8-12k

a 2000 sqft in non CCR asking 5-7k

with a differnce of 3-5k a mth .. they take taxi ..still save a lot of money ..and non ccr has all the cheap food, etc

3-5k savings .. can use that to rent a car also ...

this is what i udnerstand from an engineer expat .. in fact his group of expat friends all renting non CCR ..and huge unit ...

[jlrx]

My CCR just TOP, still vacant...

New condos usually take quite some time to get tenants because one shot there are so many units TOP at the same time. Last time one took me 6 months and another 9 months.

On the other hand, most of my condos are old and easily rented out. Within one week of telling the agents to start looking! :scared-4:

Either my agents are super efficient or maybe I'm not very demanding in terms of rental as I'm more concerned about capital appreciation than rentals.

My properties were bought very cheap and the rentals could all cover the interest installments. I was quite happy there were extra few thousand dollars every month leftover after paying the installments.

I saved up the money so that I could buy more properties. However, I recently just bought another property but the rental is again higher than the installment. So I am getting more and more "pocket money" which I don't know what to do. :doh:

I'm actually not touching my income at all to service any of the installments!

I think the "problem" (if you can call this a problem) is that the SOR and SIBOR rates are very very low.

[teddybear]

And then they keep complaining that when they need the taxi during peak hours, where are all of them? :p Then they start to suan Singapore about first world country with 3rd world taxi service blah blah blah and how to attract expats like them? :doh:
In Singapore, if taxi can be relied on when you really need one, the cow can climb the trees. :D


i think the mentality of many tenants now is this ...

a 2000 sqft in D9/10/11 asking say 8-12k

a 2000 sqft in non CCR asking 5-7k

with a differnce of 3-5k a mth .. they take taxi ..still save a lot of money ..and non ccr has all the cheap food, etc

3-5k savings .. can use that to rent a car also ...

this is what i udnerstand from an engineer expat .. in fact his group of expat friends all renting non CCR ..and huge unit ...

[proud owner]

New condos usually take quite some time to get tenants because one shot there are so many units TOP at the same time. Last time one took me 6 months and another 9 months.

On the other hand, most of my condos are old and easily rented out. Within one week of telling the agents to start looking! :scared-4:

Either my agents are super efficient or maybe I'm not very demanding in terms of rental as I'm more concerned about capital appreciation than rentals.

My properties were bought very cheap and the rentals could all cover the interest installments. I was quite happy there were extra few thousand dollars every month leftover after paying the installments.

I saved up the money so that I could buy more properties. However, I recently just bought another property but the rental is again higher than the installment. So I am getting more and more "pocket money" which I don't know what to do. :doh:

I'm actually not touching my income at all to service any of the installments!

I think the "problem" (if you can call this a problem) is that the SOR and SIBOR rates are very very low.


so what is your advice to owners whose units just TOPped? shud they wait for 3-9mths for the right tenant that will pay their high asking price ?

or shud they lower their expectation ?

bear in mind, some owners have more than a few units to go ...

also come 2012-13 there will be a lot more projects going TOP .. what should one do or prepare themselves if they have units in those projects taht will TOP between 2012-15 ?

will rental continue to be suppressed ?

current situation is like this ..>
in a project of say 50 units .. 1 managed to rent out at 10k,
the remaining 49 non owner stay units will also be asking 10k .. is that reasonable?

people will then post article saying rental mkt picked up ..quoting rental at project XXX achieved 10k .. but refuse to acknowledge taht 49 otehr units are out there looking for their 10k or more tenants ..

i believe there are many such projects now ..and more to come ..

so dont say i try to play down the mkt .. but the truth remains .. rental is not picking up fast enuff ...

many wil argue ..owners can afford to leave them empty ..true ..
so let them be happy leaving it empty

but for those who really need to have their unit rented out .. those articles on rental pick up is totally misleading

[proud owner]

And then they keep complaining that when they need the taxi during peak hours, where are all of them? :p Then they start to suan Singapore about first world country with 3rd world taxi service blah blah blah and how to attract expats like them? :doh:
In Singapore, if taxi can be relied on when you really need one, the cow can climb the trees. :D

no leh ...they all lease a car with the savings ...

[devilplate]

can easily find 3-4k tenants...more den 5k pm takes some time to let out.

i am actually surprised those MM studios CCR/RCR with rental 2.5-4k r easily rented out....within 1-2wks

last time 2bedders easily rent out...now 2bedder goto compete with those MM studios..:sleep:

[teddybear]

This problem is good to have:cheers1:

However, when the SOR and SIBOR rates are turning very very high....this will be a BIG problem :banghead:


New condos usually take quite some time to get tenants because one shot there are so many units TOP at the same time. Last time one took me 6 months and another 9 months.

On the other hand, most of my condos are old and easily rented out. Within one week of telling the agents to start looking! :scared-4:

Either my agents are super efficient or maybe I'm not very demanding in terms of rental as I'm more concerned about capital appreciation than rentals.

My properties were bought very cheap and the rentals could all cover the interest installments. I was quite happy there were extra few thousand dollars every month leftover after paying the installments.

I saved up the money so that I could buy more properties. However, I recently just bought another property but the rental is again higher than the installment. So I am getting more and more "pocket money" which I don't know what to do. :doh:

I'm actually not touching my income at all to service any of the installments!

I think the "problem" (if you can call this a problem) is that the SOR and SIBOR rates are very very low.

[devilplate]

This problem is good to have:cheers1:

However, when the SOR and SIBOR rates are turning very very high....this will be a BIG problem :banghead:

u mean stagflation? likely? explain?

[proud owner]

can easily find 3-4k tenants...more den 5k pm takes some time to let out.

i am actually surprised those MM studios CCR/RCR with rental 2.5-4k r easily rented out....within 1-2wks

last time 2bedders easily rent out...now 2bedder goto compete with those MM studios..:sleep:


thanks to those who bought the high end project

when one paid 2000 psf for a unit ..he expects xxx pct return on the rental .. but we all know chances are majority will be disappointed ..

seeing those in CCR asking xxx pct return ... those in non ccr start asking also yyy pct ...yyy<xxx

so when u go down the line ... 2 bedroom rental now becomes expensive for single renters .. so they rent mm unit lor

[devilplate]

high budget tenants r getting scarce...hopefully situation will improves

if urs 3bedder in CCR and expecting 6-10k rental...may take months.

dun forget ...still goto compete with HDB...hehe...last time lesser HDB flats up for rental b4 they relax the subletting rules

[proud owner]

high budget tenants r getting scarce...hopefully situation will improves

if urs 3bedder in CCR and expecting 6-10k rental...may take months.

dun forget ...still goto compete with HDB...hehe...last time lesser HDB flats up for rental b4 they relax the subletting rules


in short ...with the supplies coming up in the next few years .. rental will not pick up .. if they do, it still lags the price ...

there will be one or two successful cases ..where owners find a very good rental return for their units ...


but in geneeral ..majority will breakeven .. or small profit

[devilplate]

aiya..to me oversupply story is crapppy

every bull run sure got ppl say oversupply in few yrs time...i tink nid jlrx to dig out all the newspaper cuttings ...haha

[proud owner]

aiya..to me oversupply story is crapppy

every bull run sure got ppl say oversupply in few yrs time...i tink nid jlrx to dig out all the newspaper cuttings ...haha


when every project launched is sold out where got over supply ???



it is individual who is oversupplied ..

imagine u own 5 units ...stay in one and try to rent out 4


so to me ... there is an oversupply in that sense

[devilplate]

somebody >40 how ...severely oversupply?:D

[jlrx]

so what is your advice to owners whose units just TOPped? shud they wait for 3-9mths for the right tenant that will pay their high asking price ?

or shud they lower their expectation ?

bear in mind, some owners have more than a few units to go ...

also come 2012-13 there will be a lot more projects going TOP .. what should one do or prepare themselves if they have units in those projects taht will TOP between 2012-15 ?

will rental continue to be suppressed ?

current situation is like this ..>
in a project of say 50 units .. 1 managed to rent out at 10k,
the remaining 49 non owner stay units will also be asking 10k .. is that reasonable?

people will then post article saying rental mkt picked up ..quoting rental at project XXX achieved 10k .. but refuse to acknowledge taht 49 otehr units are out there looking for their 10k or more tenants ..

i believe there are many such projects now ..and more to come ..

so dont say i try to play down the mkt .. but the truth remains .. rental is not picking up fast enuff ...

many wil argue ..owners can afford to leave them empty ..true ..
so let them be happy leaving it empty

but for those who really need to have their unit rented out .. those articles on rental pick up is totally misleading

If there is a transacted rental at $10k, then that is the price.

Just like in the stock market, when a price is being transacted then that is the price.

Is the tenant who paid $10k rental crazy when there are 49 units empty? Why doesn't he go around to the other 49 units and negotiate a lower price?

Anyway your example of 1 rented vs 49 empty is an extreme one. Usually a significant portion of every development is owner-occupied but the owners hadn't moved in yet so the developments look empty.

At any point in time, say year 20XX, there will always be lots of supply coming up in 20XX + 3. This is a perennial situation.

I remember back in 2008 many people in this forum were saying that there will be many units TOP in 2010 (sold during the boom days in 2007) and the market will collapse just in time when the IRs open. :p

As it turned out the market (both sale and rental) did collapse in 2008/9 but due to the Lehman Brothers crisis and not too many projects TOP.

Then today, which incidentally happens to be the doom year 2010, people start packing the showrooms like refugees grabbing humanitarian aid and developers start bidding record prices for land. Are all these people crazy?

It's like the doomsayers who predict that the world will end in 20XX and then when it doesn't end (as usual), the end date will be pushed back 3 years.

Just look at some of the posts in this very forum during the crazy days when people could post "Unregistered". :doh:



Where to get tenants these days? Many of my expats friend had already bought their own properties early last year. Situations will get worse from here when massive number of units obtain TOP from 2010 onwards.
Yes greedy owners will be left licking their wounds.


You are wrong, who say cannot rent out. The mosquitoes, cockroaches, rats and spiders need a place to stay. Please do not deprive them.

[proud owner]

If there is a transacted rental at $10k, then that is the price.

Just like in the stock market, when a price is being transacted then that is the price.

Is the tenant who paid $10k rental crazy when there are 49 units empty? Why doesn't he go around to the other 49 units and negotiate a lower price?

Anyway your example of 1 rented vs 49 empty is an extreme one. Usually a significant portion of every development is owner-occupied but the owners hadn't moved in yet so the developments look empty.

At any point in time, say year 20XX, there will always be lots of supply coming up in 20XX + 3. This is a perennial situation.

I remember back in 2008 many people in this forum were saying that there will be many units TOP in 2010 (sold during the boom days in 2007) and the market will collapse just in time when the IRs open. :p

As it turned out the market (both sale and rental) did collapse in 2008/9 but due to the Lehman Brothers crisis and not too many projects TOP.

Then today, which incidentally happens to be the doom year 2010, people start packing the showrooms like refugees grabbing humanitarian aid and developers start bidding record prices for land. Are all these people crazy?

It's like the doomsayers who predict that the world will end in 20XX and then when it doesn't end (as usual), the end date will be pushed back 3 years.

Just look at some of the posts in this very forum during the crazy days when people could post "Unregistered". :doh:


so based on that ..once transacted ..the price stays ?

so Altaa ( whatever the spelling ... one unit sold at 3000 psf ... how come still have others asking for much lower psf ?

yes my example is extreme ...

so you still havent told me what i shud do ..

if i have 5 units waiting to be rented out .. each mortage say 4k amth ..

for every mth unrented .. i lugi 20k 6mth will be 120k cannot tahan leh ..
meanwhile my neighbour lucky ...managed to find a tenant for 6k .. shud i wait ?? or shud i just lower to 5k ?

if like u said 6k now is the bench mark ..should i die die stick to 6k ?

and if i lower to 5k will the otehr owners humtum me ? will they then lower theirs to 4k ?

point remains i cannot tahan to hold for too long .. so how ???

[jlrx]

so based on that ..once transacted ..the price stays ?

so Altaa ( whatever the spelling ... one unit sold at 3000 psf ... how come still have others asking for much lower psf ?

yes my example is extreme ...

so you still havent told me what i shud do ..

if i have 5 units waiting to be rented out .. each mortage say 4k amth ..

for every mth unrented .. i lugi 20k 6mth will be 120k cannot tahan leh ..
meanwhile my neighbour lucky ...managed to find a tenant for 6k .. shud i wait ?? or shud i just lower to 5k ?

if like u said 6k now is the bench mark ..should i die die stick to 6k ?

and if i lower to 5k will the otehr owners humtum me ? will they then lower theirs to 4k ?

point remains i cannot tahan to hold for too long .. so how ???

Why do you worry about so many hypothetical scenarios?

The market will take care of itself.

If a person can hold 5 units, then he should have the ability to hold.

If a person can hold 40+ units, like Property_Owner, I believe he should have the ability to hold (after all he can afford to "contribute" one Aston Martin to Marina Bay Sands).

In my case, even in the worst case scenario that all my tenants leave (which is quite unlikely), the total monthly installments make up less a small fraction of my income.

Which addresses the concern raised by teddybear below.


This problem is good to have:cheers1:

However, when the SOR and SIBOR rates are turning very very high....this will be a BIG problem :banghead:

[proud owner]

Why do you worry about so many hypothetical scenarios?

The market will take care of itself.

If a person can hold 5 units, then he should have the ability to hold.

If a person can hold 40+ units, like Property_Owner, I believe he should have the ability to hold (after all he can afford to "contribute" one Aston Martin to Marina Bay Sands).

In my case, even in the worst case scenario that all my tenants leave (which is quite unlikely), the total monthly installments make up less a small fraction of my income.

Which addresses the concern raised by teddybear below.


i bought 5 units becos i have enuff money for 20 pct down payment and 80 pct loan mah ...

and in the forum and papers all say rental picking up mah

so if i can rent them all out i dont have to worry right ?

but now cannot leh ..


all these are not real ..
of course i dont have 5 units waiting to be rented out

but i am suer there are people out there in the exact scenario i just painted ...


so let them be lah not my problem ...

[bargain hunter]

jlrx, you stay in an ideal world where propertism thrives and everyone has the ability to hold and rentals cover the monthly installments and still able to give you pocket money and if all your tenants leave, your income can way cover the monthly installments. I don't think everyone lives in this same ideal world as you do.

the other thing you mentioned above is about once a record rental price is set, that should be the price, like in the stock market. it is obvious that the property market is way less transparent than the stock market. Why didn't the guy who rented for 10k look for a better deal? because he did not know such a deal existed (when say for example another unit is asking for 9k). agents were keen to close the deal, they provided selective information. unlike the stock market, you can't see the queues, you can't see how many more buyers/potential tenants there are ie orders to be filled up. So the property market tends to be less efficient. You see a 10k price, are you sure it can be done? in the stock market, at least when you see a buyer at $10, you know it can be done immediately.

However, I agree with you that the market will take care of itself. Just that for the property market it takes a longer time. There will be pesky people who can't hold and provides noise within the market. Much as we don't like these distortions, it provides an opportunity to buy. :D So, as we had discussed earlier, I still think you should feel happy when prices dip a bit because, since you are financially stronger and you have no problems servicing/holding your properties forever, you will be able to take advantage with your overflowing cashflow and add to your portfolio on these little dips.





Why do you worry about so many hypothetical scenarios?

The market will take care of itself.

If a person can hold 5 units, then he should have the ability to hold.

If a person can hold 40+ units, like Property_Owner, I believe he should have the ability to hold (after all he can afford to "contribute" one Aston Martin to Marina Bay Sands).

In my case, even in the worst case scenario that all my tenants leave (which is quite unlikely), the total monthly installments make up less a small fraction of my income.

Which addresses the concern raised by teddybear below.

[august]

my CCR unit before TOP already got rental offers ...:ashamed1:

[Property_Owner]

my CCR unit before TOP already got rental offers ...:ashamed1:

an offer is an offer. how much is that offer? for 1 year or 2?
is that offer good enough for you? is the figure a good passive income?
is the amount leaving good yield for the next player?

i gotten offers too for my bay, just turn then down cause rubbish offers if i accept then i can forget about selling for next 2 years even when market is bullish..

[BillyCutie]

My personal view is that one must have the ability to hold and not too overly stretch just in case market holds up or take a bad turn.

There is always a rough range of rental expected in an estate. Give and take a few hundred difference. If you are holding the property long long term, then lease out as soon as possible as whether the market goes up or down, you will not be selling soon anyway. If you are holding for shorter term and rental difference is a few thousands, think carefully as you will be stuck with the property unsold till lease run out. Or you will not bother to lease out at all unless good rental. Reason being that it is sometimes easier to sell vacant unit to home seekers. A few months of lost rental may not be much if you manage to sell faster or for more later.

Now, the tricky thing is if you are tight on money. Assuming its your only unit, you will probably like to assess potential to appreciate more before deciding to sell now (since no holding power) or later (lease cheaper to tie though this period). If you have >1, sell one to realise gain and help tie through other units. Other than a place you call home, there is no need to be sentimental abt investment units. Mkt comes and goes. You can sell and buy others later.

[devilplate]

i gotten offers too for my bay, just turn then down cause rubbish offers if i accept then i can forget about selling for next 2 years even when market is bullish..

very right!

if u intend to sell with tenancy next time, better wait for high offer.

but some ppl dun intend to sell at all, so lower rental will do as long as the profile of the tenant is ok.

looks like u r not holding on to ur mbr for long. :D

[august]

an offer is an offer. how much is that offer? for 1 year or 2?
is that offer good enough for you? is the figure a good passive income?
is the amount leaving good yield for the next player?

i gotten offers too for my bay, just turn then down cause rubbish offers if i accept then i can forget about selling for next 2 years even when market is bullish..



wat gross yield u looking at? 1st hand owner of MBR easily above 4% yield.. but not sure for bigger units like those 3 or 4 bedders

[Latio]

I feel the rental market is slow for condo.
Still quite hot for HDB though...

I see the same ads over and over again...

:sleep:

[Property_Owner]

wat gross yield u looking at? 1st hand owner of MBR easily above 4% yield.. but not sure for bigger units like those 3 or 4 bedders

what yield would you be looking at as a buyer?

[august]

what yield would you be looking at as a buyer?

MBR?
unless rental pick up, otherwise now is 2.5 to 3%?

[Property_Owner]

Firesales?
http://www.sg-house.com/classifieds/buy-and-sell-private-apartment-condominium/2218520-fire-sales-properties-listings-all-sell-below-market-value-or-bank-valuation.html

http://www.sgfiresales.com/

[august]

Firesales?
http://www.sg-house.com/classifieds/buy-and-sell-private-apartment-condominium/2218520-fire-sales-properties-listings-all-sell-below-market-value-or-bank-valuation.html

http://www.sgfiresales.com/

care to email me the list? :o

[devilplate]

not really fire...not HOT enuff..:D

[jlrx]

jlrx, you stay in an ideal world where propertism thrives and everyone has the ability to hold and rentals cover the monthly installments and still able to give you pocket money and if all your tenants leave, your income can way cover the monthly installments. I don't think everyone lives in this same ideal world as you do.

the other thing you mentioned above is about once a record rental price is set, that should be the price, like in the stock market. it is obvious that the property market is way less transparent than the stock market. Why didn't the guy who rented for 10k look for a better deal? because he did not know such a deal existed (when say for example another unit is asking for 9k). agents were keen to close the deal, they provided selective information. unlike the stock market, you can't see the queues, you can't see how many more buyers/potential tenants there are ie orders to be filled up. So the property market tends to be less efficient. You see a 10k price, are you sure it can be done? in the stock market, at least when you see a buyer at $10, you know it can be done immediately.

However, I agree with you that the market will take care of itself. Just that for the property market it takes a longer time. There will be pesky people who can't hold and provides noise within the market. Much as we don't like these distortions, it provides an opportunity to buy. :D So, as we had discussed earlier, I still think you should feel happy when prices dip a bit because, since you are financially stronger and you have no problems servicing/holding your properties forever, you will be able to take advantage with your overflowing cashflow and add to your portfolio on these little dips.

A record price is a record price, and it is a true reflection of demand. I know this for the simple reason that when record rentals are achieved, my rentals also go up in tandem, or vice versa (even though mine are not record rentals).

The liquidity of a market is not a key issue otherwise the art market would be even more illiquid.

May 5th, 2010

The economy must really be picking up.

A 78-year-old Pablo Picasso painting of his mistress sold at auction Tuesday night for a world record US$106.5 million.

http://www.paulfrasercollectibles.com/upload/public/docimages/Image/s/u/b/PicassoNudeGreenLeavesandThumb.jpg

[proud owner]

A record price is a record price, and it is a true reflection of demand. I know this for the simple reason that when record rentals are achieved, my rentals also go up in tandem, or vice versa (even though mine are not record rentals).

The liquidity of a market is not a key issue otherwise the art market would be even more illiquid.

May 5th, 2010

The economy must really be picking up.

A 78-year-old Pablo Picasso painting of his mistress sold at auction Tuesday night for a world record US$106.5 million.

http://www.paulfrasercollectibles.com/upload/public/docimages/Image/s/u/b/PicassoNudeGreenLeavesandThumb.jpg

yes record price is a record price..but it does not mean the next trade will be the same..if it does, and go even higher..then a trend is forming ..

again Aalta ..traded 3000 psf ... and silent after that .. and still seeing units for sale at much lower psf ... so that record price means NOTHING at all ..

what we are talking about here is : a single unit rented at 10k ..does that mean the rest will be 10k ..? Not necessarily ..

so those reports about rental picking up is very misleading ..

misleading uninformed, naive owners that they can now rent their unit higher ...

[jlrx]

yes record price is a record price..but it does not mean the next trade will be the same..if it does, and go even higher..then a trend is forming ..

again Aalta ..traded 3000 psf ... and silent after that .. and still seeing units for sale at much lower psf ... so that record price means NOTHING at all ..

what we are talking about here is : a single unit rented at 10k ..does that mean the rest will be 10k ..? Not necessarily ..

so those reports about rental picking up is very misleading ..

misleading uninformed, naive owners that they can now rent their unit higher ...

There is nothing misleading about a record price. It's just a record price.

A record price doesn't necessary mean that the next trade will be higher, or the same, or lower. When a single unit is rented at 10k, the next unit may not necessarily be rented higher but also not necessarily lower.

The property market is made up of the participants and the participants make up the market.

If enough "naive owners" believe they can now rent their units higher, then the units will be rented higher. If not enough "naive owners" believe that they can now rent out their units higher, then the rent will become lower.

Why don't you try to convince Property_Owner to lower his rental expectations for his Marina Bay Residences? He said that the offers were "rubbish offers".

Is Property_Owner "naive"? I don't think so. Although I haven't met him before, he sounded very wise and experienced.


My CCR just TOP, still vacant...


an offer is an offer. how much is that offer? for 1 year or 2?
is that offer good enough for you? is the figure a good passive income?
is the amount leaving good yield for the next player?

i gotten offers too for my bay, just turn then down cause rubbish offers if i accept then i can forget about selling for next 2 years even when market is bullish..

[proud owner]

There is nothing misleading about a record price. It's just a record price.

A record price doesn't necessary mean that the next trade will be higher, or the same, or lower. When a single unit is rented at 10k, the next unit may not necessarily be rented higher but also not necessarily lower.

The property market is made up of the participants and the participants make up the market.

If enough "naive owners" believe they can now rent their units higher, then the units will be rented higher. If not enough "naive owners" believe that they can now rent out their units higher, then the rent will become lower.

Why don't you try to convince Property_Owner to lower his rental expectations for his Marina Bay Residences? He said that the offers were "rubbish offers".

Is Property_Owner "naive"? I don't think so. Although I haven't met him before, he sounded very wise and experienced.

he is not naive .. his properties are probably high end .. and he is trying to find a fair rental returns ..

he probably also agrees that rental is NOT really picking up

on that note .. the reports are misleading becos : we dont ever get reports saying, 1 unit rented at 10k ..and the rest below 10k ...
or
1 unit sold at 3000 psf and the rest selling at below 3000 psf ..

Misleading in the sense that the reporter is only keen to report one sided Bull news

thats all i am trying to say ..

so buyers and renters ..shud not read too much into such reports

[proud owner]

I think it pays to be patient for landlords.
Because potential tenants are looking for a bargain all the time.
3 bedroom nice condo, 1238 sqft, got people offer me $1600 pm last year.
Agents also dun really bother, they just want to close deal and move on.
Time is money for the agents.

the same can be said about potential landlords .... constantly looking to raise rent ... after reading biased report that rent is picking up