{"id":104989,"date":"2019-03-14T14:39:37","date_gmt":"2019-03-14T07:39:37","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/expat-rents-continue-to-drop-in-singapore\/"},"modified":"2019-03-14T15:03:15","modified_gmt":"2019-03-14T08:03:15","slug":"expat-rents-continue-to-drop-in-singapore","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/expat-rents-continue-to-drop-in-singapore\/","title":{"rendered":"Expat rents continue to drop in Singapore"},"content":{"rendered":"


\nA new study shows that rental prices in Singapore are now on average US$500 cheaper per month than in 2016.
\nDespite the continuous drop in rental prices for expatriates, Singapore remains in the top 10 most expensive locations for expatriate rents in Asia as it occupies eighth place, according to international research house ECA International.
\nECA\u2019s September 2018 Accommodation Survey showed that rental prices in Singapore are now on average US$500 cheaper per month than in 2016.
\nLooking for a rental property in Singapore?\u00a0Find an agent\u00a0to take the hassle out of your home search.\u00a0
\nIn fact, rental prices for an unfurnished, mid-market, three-bedroom apartment in areas usually inhabited by expats in Singapore costs US$4,215 per month, down 1.3 percent from the previous year.
\n\u201cReductions in the population of non-residents in Singapore, a key driver of rental demand, has led to continued drops in rental prices for expatriates,\u201d said Lee Quane, Regional Director \u2013 Asia at ECA International.
\n\u201cRecent announcements in the Singapore Budget 2019 have further limited the proportion of foreign workers that companies in the services sector can employ, to 35 percent by 2021. This seems to imply that the downward trend in rents will continue, as the availability of properties increases with little anticipated rise in demand.\u201d
\nMeanwhile, Hong Kong remains the world\u2019s most expensive location for expatriate rent, with typical accommodation for expats costing US$10,929 per month on average.
\nThe main driver for the increased rent was the limited availability of housing across Hong Kong \u2013 which has been a long-term issue for the city\u2019s housing market.
\n\u201cRent increases are not just limited to central Hong Kong anymore either; rents are expected to rise throughout outlying neighbourhoods in 2019 too, as international firms seek more affordable office spaces and leverage options in cheaper suburbs,\u201d noted Quane.
\nTokyo emerged as Asia\u2019s second most expensive location for expatriate rent, with typical accommodation carrying an average price of US$8,668 per month.
\nShanghai came in third, while Seoul and Yokohama were tied in fourth place.
\nCompleting the top ten list were Beijing, Mumbai, Osaka and Bangkok.
\nCheck out PropertyGuru\u2019s\u00a0properties for rent!\u00a0Alternately, refer to our other\u00a0handy rental guides,\u00a0or read more about\u00a0the hottest areas to live in with PropertyGuru\u2019s AreaInsider
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Expat rents continue to drop in Singapore<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A new study shows that rental prices in Singapore are now on average US$500 cheaper...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-104989","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-rjn","jetpack-related-posts":[{"id":41841,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-falls-to-7th-place-for-high-end-rentals\/","url_meta":{"origin":104989,"position":0},"title":"Singapore falls to 7th place for high-end rentals","date":"January 25, 2017","format":false,"excerpt":"\r Singapore has fallen three spots this year for high-end rental accommodation in Asia. Singapore has emerged as the seventh most expensive destination in Asia for high-end rental accommodation this year, down from fourth place in 2016, reported the Business Times. Hong Kong retained its position as Asia\u2019s most expensive\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":41969,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-falls-to-seventh-place-for-high-end-rentals\/","url_meta":{"origin":104989,"position":1},"title":"Singapore falls to seventh place for high-end rentals","date":"January 26, 2017","format":false,"excerpt":"\r Expats with lower housing budgets partly to blame Aerial view of Keppel Bay in Singapore Singapore emerged as the seventh most expensive destination in Asia for high-end rental accommodation this year, down from fourth place in 2016, reported the Business Times. Hong Kong retained its position as Asia\u2019s most\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":107168,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-property-rents-continue-to-rise\/","url_meta":{"origin":104989,"position":2},"title":"Singapore property rents continue to rise","date":"May 16, 2019","format":false,"excerpt":"\r Rental demand in Singapore is also expected to remain robust as more expats renew or sign contracts. Rents for condominiums across Singapore rose 2.4 percent year-on-year and 0.6 percent month-on-month, with the Core Central Region (CCR) recording the highest increase at 2.8 percent, reported Singapore Business Review. Rents in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":115348,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/expat-rents-in-singapore-increase-for-the-first-time-in-five-years\/","url_meta":{"origin":104989,"position":3},"title":"Expat rents in Singapore increase for the first time in five years","date":"April 2, 2020","format":false,"excerpt":"\r The average monthly rental for expatriates in Singapore rose 1.4% from last year to $6,069 (US$4,233) \u2013 its first increase in five years, showed a study by ECA International. ECA International\u2019s Regional Director for Asia Lee Quane attributed the uptick to an influx of overseas relocation, particularly by expats\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":124003,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-rents-hit-a-six-year-high-fuel-expat-housing-woes\/","url_meta":{"origin":104989,"position":4},"title":"Singapore rents hit a six-year high, fuel expat housing woes","date":"December 29, 2021","format":false,"excerpt":"\r Singapore rents hit a six-year high, fuel expat housing woesURA data\u00a0revealed that the rental price index has increased to 111.3 in Q3 2021, its highest since Q1 2015; private property\u00a0which cost\u00a0$2,500 and $4,000 in monthly rental fees see high demand. Singapore saw home rents increase to a six-year high,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/12\/condo-singapore.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":114595,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-rents-hit-a-three-year-high-as-expat-demands-surges\/","url_meta":{"origin":104989,"position":5},"title":"Singapore rents hit a three-year high as expat demands surges","date":"February 28, 2020","format":false,"excerpt":"\r Data from URA showed that rents have increased by 1.4% last year, while the number of leases inked rose to a decade-high 93,920 units. Singapore saw residential rents hit a three-year high in 2019, on the back of strong expatriate demand. Using Urban Redevelopment Authority (URA) data, real estate\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/104989"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=104989"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/104989\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=104989"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=104989"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=104989"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}