I'm due to start new job in Singapore in Dec 08. I'm looking for either studio or 1 room condo to rent. I have narrowed my choices to these few properties, The Sail, Soho 88 and Parc Emily. So far the rental of these properties are all listed above SGD 3K. What is the chances of securing a place for price between 2.5K to 3.0K in 3 month's time.
Posted by dylan on Sep 2, 2008 in Renting Property | 1250 Views
Latest Answers by Real Estate Professionals (3 Answers)
Answer Posted on Sep 3, 2008
Hi Dylan,
There is speculation that the valuation of private property in Singapore's market is descending and thus may in turn lead to a lower rentals. However, this must also take into consideration the areas/districts which are most likely to be affected by the economic 'slide'.
My opinion is that the property market will 'plateau' as soon as the IR are built to cater for 'short-term' stays for tourists.
Currently, the market price for rentals:
Studio &/or 1 bdrm units
The Sail - $4000++
Soho 188 - $3300++
P Emily - $3500++
I could give you a general idea the average price of the units there by compiling a list.
Hope to hear from you soon.
Best regards,
J. Kleinman
90292624
kleinman@erasingapore.com.sg
www.kleinman.myweb.sg
There is speculation that the valuation of private property in Singapore's market is descending and thus may in turn lead to a lower rentals. However, this must also take into consideration the areas/districts which are most likely to be affected by the economic 'slide'.
My opinion is that the property market will 'plateau' as soon as the IR are built to cater for 'short-term' stays for tourists.
Currently, the market price for rentals:
Studio &/or 1 bdrm units
The Sail - $4000++
Soho 188 - $3300++
P Emily - $3500++
I could give you a general idea the average price of the units there by compiling a list.
Hope to hear from you soon.
Best regards,
J. Kleinman
90292624
kleinman@erasingapore.com.sg
www.kleinman.myweb.sg
Answer Posted on Sep 2, 2008
Dear Dylan,
I do not expect rental to go below current level in 3 months' time. Please feel free to contact me at HP: 9436 1098 in helping you to search for the rental apartment.
Many Thanks & Warm Regards,
Angeline Chan
I do not expect rental to go below current level in 3 months' time. Please feel free to contact me at HP: 9436 1098 in helping you to search for the rental apartment.
Many Thanks & Warm Regards,
Angeline Chan
Answer Posted on Sep 3, 2008
Hi Dylan,
You remind of the singer Bob Dylan. Come December there will definitely be more supplies. However, the rental rates would not come down. Be prepared to pay a reasonable market rate if you wish to stay in upmarket residences. Call me at 9636 8508, I would be able to rationale with you what is " reasonable" within certain belts without much compromise.
Good luck and look forward to hearing from you.
Eddie Soh
DTZ
eddiesoh.myweb.sg
You remind of the singer Bob Dylan. Come December there will definitely be more supplies. However, the rental rates would not come down. Be prepared to pay a reasonable market rate if you wish to stay in upmarket residences. Call me at 9636 8508, I would be able to rationale with you what is " reasonable" within certain belts without much compromise.
Good luck and look forward to hearing from you.
Eddie Soh
DTZ
eddiesoh.myweb.sg
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hi gurus,
Thanks for the all the advices. Looks like I probably can only afford at most the Soho prices if the units are still available by then.
From what I gathered in this site, there are currently about 600 units of Sails for sales or rent so what are the chances that owners will be able to push out the units at current rental rates with so many units in the market ? My simple mind will tell me that if I will to push out my unit at 10 to 20 % less earlier I will still get more rental than if I will to get from the current rate 6 months later. So what is the mentality of the owners that drives the market force ? Just my 2 cents worth.