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Thread: will rental plummet next year in punggol/sengkang?

  1. #1
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    Default will rental plummet next year in punggol/sengkang?

    With the large numbers of HDB completion/pte condos etc etc what do u guys think about the rental effect in Punggol or Sengkang area?

    I am talking about next year onwards.

    *esp if u personally own a ppty there, whether punggol or at sengkang . (doesnt matter hdb/pte condo etc)

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    Consider lucky if able to hold the property value..

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    Before the oversupply , it is already a tenants' market now. With the oversupply what do u think?

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    Quote Originally Posted by Regulators
    Before the oversupply , it is already a tenants' market now. With the oversupply what do u think?
    lol ok.

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    Quote Originally Posted by pod
    With the large numbers of HDB completion/pte condos etc etc what do u guys think about the rental effect in Punggol or Sengkang area?

    I am talking about next year onwards.

    *esp if u personally own a ppty there, whether punggol or at sengkang . (doesnt matter hdb/pte condo etc)
    HDB not much difference as the new HDBs cannot be rented out mostly.

    Private, not sure but many bought for own stay or upgrade. It depends also on what up graders do about their HDBs if they have. Will they sell or rent?

    But even if they put up for rent, the negative effect is minimal because it's still tied to nation's rental prices.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

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    Quote Originally Posted by Kelonguni
    HDB not much difference as the new HDBs cannot be rented out mostly.

    Private, not sure but many bought for own stay or upgrade. It depends also on what up graders do about their HDBs if they have. Will they sell or rent?

    But even if they put up for rent, the negative effect is minimal because it's still tied to nation's rental prices.
    There will stillbe some who rent out rooms for HDB as there are alot of budget foreigners who 'downgrade' to HDB i guess as its evident at the groundlevel. eg. a visit to the coffeeshop these days u can see multi nationals queuing up for food.

    There's alot of attention at punggol/sengkang these days so i duno if people will rent at these towns as oppose to elsewhere as the mrt/lrt is pretty much all accessible these days.

    I personally have a friend who sold his punggol hdb flat and now staying put at his parents house until his condo is completed in punggol before moving back again. I guess he likes punggol.

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    TS, you heavily vested?

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    Quote Originally Posted by pod
    There will stillbe some who rent out rooms for HDB as there are alot of budget foreigners who 'downgrade' to HDB i guess as its evident at the groundlevel. eg. a visit to the coffeeshop these days u can see multi nationals queuing up for food.

    There's alot of attention at punggol/sengkang these days so i duno if people will rent at these towns as oppose to elsewhere as the mrt/lrt is pretty much all accessible these days.

    I personally have a friend who sold his punggol hdb flat and now staying put at his parents house until his condo is completed in punggol before moving back again. I guess he likes punggol.
    Must study the overall rent growth or decline island wide. It is not so straightforward to just apply demand supply.

    It still appears a great place for living, qualitatively as compared to some others.

    No way to predict for sure...
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

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    Yesterday evening i drove from pioneer road to tampines mall i left pioneer road about 545pm i reached Tampines mall at 715pm there was a delay due to accident near ngee ann poly during my journey i looked at the hundreds and hundreds of cars around me when i reached tampines MAJOR delay turning into tampines DUE to SO MANY MANY MANY cars

    then i asked myself will the PROPERTY market crash in time to come

    but looking at the crowds on the roads in the malls in the MRT i REALLY REALLY doubt the will be a SEVERE DROP in rental and resale but then again maybe the CROWDS will just DISSAPEAR overnite and go dont know where and then there will be NO more DEMAND for resale/rental and market will crash

    at least then if that happens my journey from jurong to tampines will take
    45mins even if there is accident
    In the final analysis.....its NOT whether you have a diploma,degree,masters OR PHD....its whether you have a HDB/PC/EC or LANDED...

  10. #10
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    I am just curious how many of those who bought in recent launches actually paid the 7 or 10% absd or do these ppl form only an insignificant minority.

    Quote Originally Posted by radha08
    Yesterday evening i drove from pioneer road to tampines mall i left pioneer road about 545pm i reached Tampines mall at 715pm there was a delay due to accident near ngee ann poly during my journey i looked at the hundreds and hundreds of cars around me when i reached tampines MAJOR delay turning into tampines DUE to SO MANY MANY MANY cars

    then i asked myself will the PROPERTY market crash in time to come

    but looking at the crowds on the roads in the malls in the MRT i REALLY REALLY doubt the will be a SEVERE DROP in rental and resale but then again maybe the CROWDS will just DISSAPEAR overnite and go dont know where and then there will be NO more DEMAND for resale/rental and market will crash

    at least then if that happens my journey from jurong to tampines will take
    45mins even if there is accident

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    I also think will drop.

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    I believe 70% of these sengkang/punggol condos are bought by owners-occupiers.
    The remaining 30% of condos which are up for rental will hopefully be absorbed by the expats working in Rolls-Royce Seletar park.

    Personally, I do not know of any expats of other industries who are attracted to live in this district

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    another 2cents observation every morning i drive from east to woodlands via TPE the traffic along TPE is horrendous i cant wait for the TPE/CTE interchange to be completed
    In the final analysis.....its NOT whether you have a diploma,degree,masters OR PHD....its whether you have a HDB/PC/EC or LANDED...

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    In early 2000, a friend rented 3 rm condo for less than 1500 in the suburb...

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    Quote Originally Posted by Douk
    In early 2000, a friend rented 3 rm condo for less than 1500 in the suburb...
    that time spore was NOT united nations
    In the final analysis.....its NOT whether you have a diploma,degree,masters OR PHD....its whether you have a HDB/PC/EC or LANDED...

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    The Sengkang hospital is due for completion in 2018 or later. There will be a lot of expat doctors and nurses.

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    I'm a tenant. To me, I will not consider renting a HDB/condo in suburban area that is not walking distance to MRT. Whether a condo or HDB doesn't matter much actually. I have frens who rent as well, mostly having the same thought as me when it comes to rent in suburban area. Therefore, I think those near MRT are pretty safe as they always got strong demand. When the market is down and tenant has more bargaining power because of oversupply, it's gonna be quite challenging to those development not near mrt.

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    Quote Originally Posted by Kelonguni
    HDB not much difference as the new HDBs cannot be rented out mostly.

    Private, not sure but many bought for own stay or upgrade. It depends also on what up graders do about their HDBs if they have. Will they sell or rent?

    But even if they put up for rent, the negative effect is minimal because it's still tied to nation's rental prices.
    I quite agree with above. The oversupply are NEW BTO flats. Who can buy these? It is not the foreigner pass holders but local citizens mainly, married or co-name mainly as well. They can't rent out their units for first five years at least for now. Only resale HDB and private apartments can be of rentals. The only play around the bush is that the older parents rent out their resale HDB and stayed with the children under the roof of the new BTO. But I doubt every members of the household share the same savvy mindset of property investment, otherwise, older folks with bigger units many rent out a room or so for some passive income aside from children contributions.

    It is not a directly a supply and demand issue here, having so many policies by the government. Rental of the luxury residential sector will be more affected by economy downturn, with some high earners expats either pack up and go, or downgrade to mass market apartments; mass market condo downgrade to HDB perhaps. Bottom line to me is - can one accept multi-tenancy over a single big HDB unit; sharing part similar direction as HDB tenancy, mass market condos will probably depend much on location nearing to amenities and MRTs.

    Imagine an investor has two mass market condos (even at 99-lease) very near MRT of major Hub + an average HDB unit not near MRT but with 3 bedrooms. I think he is going to perform better and have more flexibility of stay than, say, another who owns two freehold bungalows/apartments nowhere near MRTs and a HDB. Having these thought on economic downturn. (If near MRTs units can't be rented out easily, what about those not near MRTs/amenities?)

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    Remember the newspaper said in 2030 the whole of Singapore will be walkable to mrt station in 8min or less. More new mrt stations will be coming in 2018 masterplan. The whole of Singapore. Property will cheong to the roof by then.

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    Quote Originally Posted by star
    Remember the newspaper said in 2030 the whole of Singapore will be walkable to mrt station in 8min or less. More new mrt stations will be coming in 2018 masterplan. The whole of Singapore. Property will cheong to the roof by then.
    So when that happens and almost all the condos are next to MRT, what happens? I just wonder how long a property correction will last.

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    Quote Originally Posted by LiveYoung
    I'm a tenant. To me, I will not consider renting a HDB/condo in suburban area that is not walking distance to MRT. Whether a condo or HDB doesn't matter much actually. I have frens who rent as well, mostly having the same thought as me when it comes to rent in suburban area. Therefore, I think those near MRT are pretty safe as they always got strong demand. When the market is down and tenant has more bargaining power because of oversupply, it's gonna be quite challenging to those development not near mrt.
    Here is indeed a point about MRTs by a tenant. Though amenities and proximity to workplace and via transport system (buses and taxis) and rentals as a whole house or sub-renting the rooms is a consideration as well. Here are one example for consideration: Serangoon North Estate and say Baungkok. By comparison, Baungkok at current has not much amenities and buses apart from a MRT station, not particularly near industry work place. Whereas, Serangoon North has more than 10 major bus-route that some DIRECTLY goes to workplace without MRT. It is also only a few minutes ride or cycle distance to NEX. The estate is self-sufficient with 24-hr NTUC and market and many more. I do see this estate particularly attractive to tenants have a modest budget and knowing their workplace is still directly accessible by those buses. Some even cycle to work at the Ave 5/6 region.

    Would you rent a room then Baungkok near MRT at premium of $700, or Serangoon North at $450-500, or maybe super ulu place at $200? Price now also a factor..

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    Quote Originally Posted by star
    Remember the newspaper said in 2030 the whole of Singapore will be walkable to mrt station in 8min or less. More new mrt stations will be coming in 2018 masterplan. The whole of Singapore. Property will cheong to the roof by then.
    The MRT lines and road expansions are multi-billion investments. The more the money is pumped into infrastructure, the more property prices appreciate. All the costs are also increasing. As Iskandar grows, Singapore will be fighting with Malaysia for Malaysian workers and raw materials.

    I don't think we will see sub $1000 psf condo launches anymore next year. $1500 psf could be the norm for new 2-bedders that are within 10 min walk from MRT station. I think this year to mid of next year is the window period for first timers to buy, beyond that prices are likely to resume climbing unless another measure kicks in.

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    Quote Originally Posted by Regulators
    Before the oversupply , it is already a tenants' market now. With the oversupply what do u think?
    When there is overs supply of units, depression of rental price comes into play ...location of rentals unit comes into play, nearer town (work place n entertainment) , nearer MRT station close to town/ workplace (cheaper transport costs) , nearer amenities .,, then condo unit with full /better facilities (better value for rental money) ..

    So there is a big crowd n queue of rentals ..but then this crowd n queue can also disappear .. also shrink as many are known to join-cohabit (stay together) in bigger rental units ..choose HDB instead of condo etc.

    These rental folks are too smart for straight-thinking naive landlords of PC/Condos ...

    Just my opinion.

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    Quote Originally Posted by hyenergix
    The MRT lines and road expansions are multi-billion investments. The more the money is pumped into infrastructure, the more property prices appreciate. All the costs are also increasing. As Iskandar grows, Singapore will be fighting with Malaysia for Malaysian workers and raw materials.

    I don't think we will see sub $1000 psf condo launches anymore next year. $1500 psf could be the norm for new 2-bedders that are within 10 min walk from MRT station. I think this year to mid of next year is the window period for first timers to buy, beyond that prices are likely to resume climbing unless another measure kicks in.
    Funny thing.. the folks are here concerned about rental prices , you are talking something else ... sure inflationary measures like higher land costs, material, labour costs will jack up the buying psf of PC but rental is a function of rentals number subjected to the direct variables of DD and SS cum factoirs such as location, distance to mrt, amenties etc.

    People who invest in PC better thinks hard of rental yields and how much rental can offset their super high psf. The 10% of overleverage are scared that they cannot find rentals to repay their 30/40 years mortgage.

    During financial crisis days, many landlords in Orchard Condo have to pay rentals for their vacant unit for a number of years ... It is real and not imaginary ...

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    Changi airport started with terminal 1 then 2 then 3 now 4 plus later on govt might announce plans for changi east to expand the aerospace industry so i believe seletar aerospace hub got a BRIGHT future SIA placed a MEGA order for engines recently and i believe order went to rolls royce who are at seletar aerospace hub this can only mean MORE AND MORE companies etc etc open shop at seletar aerospace hub and this will translate into a SPILLOVER into sengkang punggol and my DEAR Pasir Rismany many people going to need HOUSING
    In the final analysis.....its NOT whether you have a diploma,degree,masters OR PHD....its whether you have a HDB/PC/EC or LANDED...

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    There might be some who are stuck in their views of CCR versus OCR.

    We are a super interconnected system, and will get progressively so. Tides rise boats rise, and vice versa. It's quite simple, cannot think micro. Think macro.

    When rental in one area too depressed, demand from elsewhere channeled over...

    Quote Originally Posted by The_Way_I_See_It
    When there is overs supply of units, depression of rental price comes into play ...location of rentals unit comes into play, nearer town (work place n entertainment) , nearer MRT station close to town/ workplace (cheaper transport costs) , nearer amenities .,, then condo unit with full /better facilities (better value for rental money) ..

    So there is a big crowd n queue of rentals ..but then this crowd n queue can also disappear .. also shrink as many are known to join-cohabit (stay together) in bigger rental units ..choose HDB instead of condo etc.

    These rental folks are too smart for straight-thinking naive landlords of PC/Condos ...

    Just my opinion.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  28. #28
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    Quote Originally Posted by The_Way_I_See_It
    Funny thing.. the folks are here concerned about rental prices , you are talking something else ... sure inflationary measures like higher land costs, material, labour costs will jack up the buying psf of PC but rental is a function of rentals number subjected to the direct variables of DD and SS cum factoirs such as location, distance to mrt, amenties etc.

    People who invest in PC better thinks hard of rental yields and how much rental can offset their super high psf. The 10% of overleverage are scared that they cannot find rentals to repay their 30/40 years mortgage.

    During financial crisis days, many landlords in Orchard Condo have to pay rentals for their vacant unit for a number of years ... It is real and not imaginary ...
    This is a myth that has to be corrected.

    At any point in time, when an expat comes to Singapore, even there is only ONE, they will prefer to stay near or at Orchard Road. The only thing stopping them is the price they have to pay.

    So technically, most town PCs can get rented out, its just the price.

    To rent out, they just need to match those of Newton Novena.

    Some units are just not rented out by choice, most prime landlords with holding power prefer to leave the unit empty than to rent it cheaper than what they want - this is call the Rich Ego.

    But the same cannot be said about OCRs PCs. Office Boy owned a OCR PC and in bad times like the 2003-2006 period, there are times the PC is vacant for 6 months! Just no tenants, because when the number of tenants is less than number of empty units, those in OCR tends to suffer the brunt of it.

    Not many can understand.

    DKSG

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    Quote Originally Posted by DKSG
    This is a myth that has to be corrected.

    At any point in time, when an expat comes to Singapore, even there is only ONE, they will prefer to stay near or at Orchard Road. The only thing stopping them is the price they have to pay.

    So technically, most town PCs can get rented out, its just the price.

    To rent out, they just need to match those of Newton Novena.

    Some units are just not rented out by choice, most prime landlords with holding power prefer to leave the unit empty than to rent it cheaper than what they want - this is call the Rich Ego.

    But the same cannot be said about OCRs PCs. Office Boy owned a OCR PC and in bad times like the 2003-2006 period, there are times the PC is vacant for 6 months! Just no tenants, because when the number of tenants is less than number of empty units, those in OCR tends to suffer the brunt of it.

    Not many can understand.

    DKSG
    orchard lower to newton novena price... how about ocr lower to surrounding hdb price?

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    Quote Originally Posted by DKSG
    This is a myth that has to be corrected.

    At any point in time, when an expat comes to Singapore, even there is only ONE, they will prefer to stay near or at Orchard Road. The only thing stopping them is the price they have to pay.

    So technically, most town PCs can get rented out, its just the price.

    To rent out, they just need to match those of Newton Novena.

    Some units are just not rented out by choice, most prime landlords with holding power prefer to leave the unit empty than to rent it cheaper than what they want - this is call the Rich Ego.

    But the same cannot be said about OCRs PCs. Office Boy owned a OCR PC and in bad times like the 2003-2006 period, there are times the PC is vacant for 6 months! Just no tenants, because when the number of tenants is less than number of empty units, those in OCR tends to suffer the brunt of it.

    Not many can understand.

    DKSG
    Very valid of course if all conditions remain the same in 2015 as in 2003-2006. 2003-2006 rental market was almost absent. I know of people who rented landed semi D, 5BR for $1500 then. District D9 some more.

    No more such deals. Even 2BR OCR HDB rental rate is around 1800 onwards.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

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