Learn About the Singapore Rental Market from Dylan
The Singapore rental market is getting weaker, with empty unit expected with more condo TOP in coming months. Moving into a rented unit does require a security deposit, which can vary subjected to the tenure of the lease in general. The rental prices have decreased in Singapore for the 2nd quarter, which allows for better prices for the tenant in renting a unit.
It is important to prepare to rent a unit in Singapore, and if you ask Dylan, you will gain some insight about the Singapore rental market. Now is the best time to rent a condo in Singapore given the weak rental market today. Consider moving out of the current old project and move into a newer project, more modern facilities for almost the same rental price you are paying currently.
Determining a budget allows you to figure out how much you are setting aside each month in renting a condo. Availability is a key factor when you are deciding to move because some units you want may be harder to find. Different locations priced differently as well, so you should account for any expenses in a particular spot.
Moving to the downtown district of Singapore near Orchard Road, costs can build up quickly. If you can have a flexibility of $3000-$5000, it will help you with the rental costs.
A Singapore rental property that is large enough to house you and your family will cost easily between $8000-$15000 per month. That includes semi-detached terraces, good class bungalows, and penthouses. The penthouse is more expensive, given the fact that the price to own the unit and maintenance fees it has to pay.
It is something to consider before you go out and start looking at condos. One or two bedroom condos are available in the open market, where prices run in the $2000-$3500 price range. These condos are ideal for single people wanting an affordable condo.
A Renter’s Market
So far in 2016, the market has favoured the renters. The programs will create new condo launches in the coming years. More people are starting to move from the CCR, and are seeking properties in the OCR. As more homes become empty, the market is lending itself for more availability at a lower price.
Landlords have reduced the prices of these particular units, resulting in a buyer’s market. Many different locations are available for any accommodation, so you are not getting stuck in a terrible leasing contract. Dylan will give you any extra information you need regarding the property market.
Types of Singapore Rental Properties
Rental properties are available for your needs and preferences. Real Estates with plenty of space are available if you appreciate much space for you and your family. A mixed-development condo building has shops and restaurants attached to them at the bottom, so you do not have to venture around or too far.
You can also find houses or single bedroom condos for rent. If you are living alone with a lively nightlife, you may want a condo in an area with fewer families. Each rental property has its benefits and shortcomings, but understanding your needs can decide easier.
There are also landed and detached homes you can explore, but their prices can be more costly than a condo. The thing about a detached house is the status symbol and what it represents.
If private homes are not within your budget, you can alway consider the HDB units. They are located all over Singapore, and you can find them near shopping malls and public transportation, it all voice down to what are you looking. If you choose to rent an HDB unit, you will get the full experience of living in Singapore with the locals.
How an Agent Will Help
Getting a real estate agent, like Dylan, will assist you with getting into a Singapore Rental Property. He can find the best rental properties available and will work with you to make sure your rental property is affordable. He wants utmost for you and will do what he can to make sure your living space is correct.
He is the one that will help navigate you toward finding the right rental unit in the right rental unit for you and your family. He is personable and friendly and will work hard to make sure your lease has the right terms and conditions and work in your best interests at all times.
Dylan is more than happy to assist you with any questions you may have. He wants to understand what your long-term goals are, and what the best course of action is.
Dylan will do all the footwork to ensure you get the advice you need. It is always a good idea to use an agent like Dylan, who will look out for you and your family.