Asked by Mr. Yuan Wu
I am looking for renting a 3-bedroom flat in this newly TOP condo. So far the lowest price I have seen is 4000. It seems quite reasonable at the current market. But with a second thought, you will realize that things are not all that positive. There are 12000 vacant private residential units right now, and supply of residential units in the pipelines are at historical high (more than 60000 units in the pipeline). Where are you going to find people to fill these units? I have heard many stories of foreigners not getting work permit renewed and leaving Singapore. A friend of mine told me that she have a hard time renting out her flat as there just not many coming to view her units after listing. In the end, she has to accept a low offer. Human beings tend to adjust expectations slowly. Most of the owners and investors are still holding up to the idea that the recent good years will continue. But reality is that the rental market is fast turning 180 degree right now.
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