I'm a foreigner on an EP and renting an appartment on Scotts Road, the Owner is looking at selling in order to cash in on the market. He wants around SGD 3.5 Million but if I were to leave Singapore and rent it out, the income would not even cover half the cost of the mortgage repayments based on 25 years repayment. Please can someone help explain the situation. Why are rental yields and sale prices so out of line?
Posted by Alex Vogel on Mar 22, 2008 in General Questions | 813 Views
Latest Answers by Real Estate Professionals (3 Answers)
Answer Posted on Mar 24, 2008
Hi Alex, Scotts Road is a prime area.Prices are much higher when compare to other areas. You need to check your tenancy agreement as it probably allows you to stay till the end of the lease period.
Answer Posted on Mar 24, 2008
Hi Alex-you need to check your tenancy agreement. It is most likely any sale would have to be subject to tenancy so you could stay where you are for term of lease. Regards
Carole Ann-Expat Rentals h/p 97634141
Carole Ann-Expat Rentals h/p 97634141
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