According to SRX flash estimates, rents across the board eased in March over February. SRX’s rental index for private apartments and condominiums fell 1.0% month on month in March, after a slight rise in February.
The index has shrunk 3.9% year or year and is down approximately 19% percent below the peak in January 2013.
Volume appeared to increase with an estimated 4,549 non-landed priva...Read more
According to Knight Frank, prime residential rents in Singapore dropped by 3.3% in Q4 2016 from the previous year. This flies in the face of a Knight Franks Global Rental index which noted that 10 of 17 cities that the index tracks, showed a growth in rental rates. Disparity between weaker performing markets and strong growth markets widened. RENTALS.SG helps tenants and landlords in Singapore ...Read more
You know it is a sign of desperation when "experts" start talking the property market up or calling a bottom while flying in the face of a new paradigm. Perhaps they are right, in as much that even a dead cat bounces. But with mortgagee’s sales on the increase, interest rates rising, a lackluster rental market and higher unemployment figures, we see little reason to cheer at this juncture.
Courtesy of The Singapore Business Review, a quote that says it all: “New technologies are not only disrupting traditional industries in Singapore -- a trend that Prime Minister Lee Hsien Loong said will force the economy to transform -- but also changing consumers’ behavior as they try to cope with rising costs and unemployment at a six-year high”.
Fitch further commented: “Macro-prudential...Read more
According to a recent press report, a group of tourists rented a one bedroom Airbnb apartment in Canonbury and converted it into a fully functioning nightclub in early March. Upwards of 200 people piled into the small London flat and the guest even hired a bouncer for the door, sold tickets, and then equipped the space with a complete DJ booth to match.
The surrounding neighborhood was not p...Read more
Only last month the concensus from several industry leaders and tax advisors alluded to no releief on the governmnet cooling measures in the mid-term. Market forces would cotinue to prevail in a somewhat lacklustre market. Then in the past two week, we have several attempts by the industry to "talk the market up", which in our opinion, made no sense. Today, in a surprise move, that caught the i...Read more
With an estimated 24% of HDB re-sale transactions being conducted directly between seller and buyer in 2016, it is little wonder that real estate agents are starting to question their role in the market.
Central to this self-examination process, should be the justification of commission fees and where the agent really does value and support. It is certainly not the quality of client property...Read more
With a record completion of over 21,000 new homes launched in 2016 and riding on the back of a sluggish economy, which in turn has led to repatriations, the downward pressure on rents continues and tenants are spoilt for choice.
With the number of vacant units, currently estimated to be 10% of the market, competition between Singapore landlords for tenants has intensified. A reduction in exp...Read more
Martin Phillips, the founder of RENTALS.SG is also the founder of RENTALSWORLDWIDE.COM, a vacation and long-term rental platform. The global vacation rental market is currently believed to be valued at US$100 Billion and is forecast to increase to US$ 170 Billion by 2019.
While RENTALS.SG is only focused on direct landlord to tenant long-term Singapore rentals, it is now clear that the short...Read more
Ammendments to the Planning Act will put an end to two rental related practices, makeing the use of private residential properties for rent under six months illegal and housing more than six tenants in each unit. However, the Singapore Government is looking at shortneing the six month requirement for private housing rentals.
Airbnb has, in recent years, led the way in short-term rentals arou...Read more