Re: [EZLINK] Why there is a Sudden EXPLOSION in HDB rentals rates ????
Hi
I think this situation is mainly due to supply and demand. The prices of the hdb flats peaked during 1997. Govt. intervened and built many HDB flats. Even today the supply is greater than the demand for such flats. Earlier we had to queue for direct allocation from the hdb, now they are advertising for people to buy!
People who have just come from India, have not seen those days.
Huge supplyof hdb new flats followed by economic down turn, resulted in sudden fall of property prices. This also to certain extent brought down the rents. Earlier the rental was higher too. Condo rents were above 2000 and good approved hdb unit in a good locality and furnished costed 1500 plus.We have paid that kind of rent during those days...say in 1994-95.
But then as supply exceeded demand, prices especially resale prices, started falling and dropped so low that they lost almost 50% of their value in just 2 years. In india the prices never fall, but here they do!!!. Rents also started falling. And rent and property prices were at their lowest last year and beginning of this year. Most of you have seen when the rent were at their bottom lowest!
Only now the property market is picking up a bit. You have seen the prices during low cycle, so you feel it is going up. Indeed you have to make sure what you are getting for the price you are paying. If you are paying the market price, i think it is fair enough.
Some flats are advertised by the owners themselves...if you really feel agents are the culprits, you can negotiate the rent yourself.
Cheers and good luck with your house hunt...
Vijaya
Raja <sekhar08@yahoo.com> wrote:
Hi,
U R Right. Everywhere the rents has gone up ranging from 100 to 300. Recently I took a flat at sengkang near to LRT. It costing me 1000 SD. For the same flat earlier the tenant used to give only SD 600.
>From the past three years (till end of 2005), no body is interested to buy the HDB's. So the government also try to boost up the market.
the drastic change in the rents is merely because of agents. Ofcourse the rates has grown up a little bit high. Some people are blindly taking the houses, what ever the rent the agents are telling.
Hi V SriD,
Ur Idea is good. If we (at least 100 to 200) people send the mail to the HDB, they may increase the JTC houses or some other possible alternatives..
Thanks & Regards,
Raja Sekhar
Singa pore <vsdsing@yahoo.com.sg> wrote:
Good thought after a long time from someone
The following are my points after making an insight into few areas here.
1.Most of the Govt holded HDB's are given to private agents to market/rent out.
2.Fortunately or unfortunately expats like us coming here has now become more, ofcourse although there is equally a reverse trend of people moving out of Singapore and going back to US/India are there but the REAL issue is too many people are back of too few "Good" Units since in most of the areas the Units are quite old and facilities lack lustre!!
3. Since most of the expats are ready to pay for good Units, the trend and ability to pay to agent is grown and also Agents are in due advantage to make fast buck.
4.Earlier Sengkang was mostly unknown to many people and also since many people used to think its very far outside City limits the rentals were ranging between 700 to 800 ONLY but now Many people have understood that Sengkang is quite neat area with huge HDB's and moreover damn new Units so now the rents are soaring to 1000 and above!! Since expats are rushing to pay more to grab.....ofcourse we cant blame anyone.
5.All Factors added Be it what ever the Salaries are not growing but the rents are burning the pockets.40% of the Salary goes into Rentals and Agent fee etc.
6. After paying so much also still there are so many Problems with either from Owners or Agents.
May be we as a forum need to represent and take this up to HDB to have a uniform or atleast a standard Rental format in areas depending on the size of the Unit or Age of the Unit for Expats.
Regards,
sm <mavihs@gmail.com> wrote:
Dear mates ,
For the past 6 months , I was observing the HDB Rental rates. This might
have really bothered the fellow expats !
Especially getting an approved 2+1 or 3+1 whole units are becoming more
expensive day by day.
Six months back one should be able to get an approved 2+1 unit around 850
SGD on a lift floor and near by mrt.
And for a 3+1 unit it was around 1000 SGD.
We all know that this is not today's situation.Now 3+1 units are being
rented out in a condo rates !!!!
Am just wondering what could be the cause !!
Is there any hike in the real estates anounced by government ??? Or the
somebody / some group is taking advantage on the demands from expats.
It should be noted that still we can get a 2+1 JTC unit aroun 850 SGD.
Any thoughts to share ?????
regards
sm
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