Rental

Rental prices for private homes, HDB drop in November: SRX

Rental prices for both non-landed private units and Housing and Development Board (HDB) flats fell in the month of November, according to flash estimates released by the Singapore Real Estate Exchange (SRX). In a report issued on Wednesday (Dec 10), rentals for private homes dipped 0.8 per cent month-on-month in November - representing the 10th consecutive month of falling prices.  Rents in all three...

Singapore to build 2000 rental flats next year

To address the needs of Singapore’s lower-income families, the government will build some 2,000 rental flats starting next year, reported The Straits Times. This is part of the government’s plan to deliver 57,000 rental flats by 2015, in response to growing demand. A spokesperson from the HDB said it is “on track” to meet the government’s target of 50,000 rental flats by this year. The 2,000...

Rents of apartments in city fringe on the rise

Rents for apartments in the city fringe areas are on the rise and this is being attributed to the concurrent increase in the number of small units that are generally under 500 sq ft in size. In a study by CBRE, rents in the city fringe, which covers areas like Balestier, Bishan and Geylang, rose to S$3.36 per square foot (psf) per month (pm) by the third quarter of this year, up from S$3.15 last year....

Private residential rentals set to rise with influx of foreign workers

Rental rates in the private property market are poised to rise with the expected influx of some 80,000 foreign workers this year. Analysts said this is because of the shortage of private housing. And the supply situation may not improve this year as only 5,000 private housing units are expected for completion by year's end. The government's forecast on the number of foreign workers here comes on the...

Private residential properties see sharp fall in rentals in Q1

Private residential properties in Singapore saw a sharp fall in rentals and a slight price decline in the first quarter of 2009. Real estate consultancy firm DTZ in its report on Tuesday said monthly rentals of luxurious homes slid 18.8 per cent to S$5.20 per square foot, a level not seen since the third quarter of 2006. Rent of units in prime districts also saw a drop, down 16.2 per cent to S$3.65 per...

Real estate company charged with illegal use of private apartment

Real estate company PNL Real Estate was charged on Tuesday with the unauthorised change of a residential apartment into a workers’ dormitory. The premises - at Public Mansion, 432 Balestier Road - was also in breach of Section 30(1) of the Fire Safety Act. The offence came to light in June this year. Using wooden partitions, the 120.77 square metre apartment had been separated into 32 narrow cubicles....

Rental rate to fall 25%: Bank

Barclays Capital says market has peaked, rent to drop 5% this year and more in next 2 years Have home rentals peaked? With a looming rush of new supply, one bank is predicting that they could fall by as much as 25 per cent by 2010. That is good news for tenants, but not so good news for landlords, who saw private rentals surge an average of 41 per cent last year. This bold forecast comes in a report...

PM Lee says Singapore will continue to develop financial sector

Prime Minister Lee Hsien Loong said Singapore will continue to develop the financial sector as more activities are being moved to the city-state. Mr Lee, who was speaking to 120 bankers at the hour-long Thomson Reuters Dialogue on Tuesday, added that more would be done to ease capacity constraints, such as the crunch in office space and accommodation. The financial sector in Singapore grew by some 17.5...

HDB, private apartment rentals set to rise

Rentals for HDB and mass market private apartments are set to rise in the coming years, with more foreign workers heading for Singapore. Property agents expect rents to climb by about 10 percent this year. They say HDB flat-owners could gain from the spike in demand. Singapore’s two integrated resorts will be ready in the next two years. Besides attracting more tourists, they are also expected to...

SLA offers 6 state homes for rent through open bid

The Singapore Land Authority (SLA) is offering another six residential state properties for rent. They comprise four bungalows and two semi-detached properties in Seletar, Sembawang and Lornie Road. They are being offered through an open bidding system from 16 February. The system is more transparent than the previous first-come-first-served procedure under the waiting list or balloting system. Bidders...

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