{"id":98271,"date":"2018-09-21T11:38:33","date_gmt":"2018-09-21T04:38:33","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/good-time-to-rent-private-condos-as-opposed-to-buying\/"},"modified":"2018-09-21T12:03:11","modified_gmt":"2018-09-21T05:03:11","slug":"good-time-to-rent-private-condos-as-opposed-to-buying","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/good-time-to-rent-private-condos-as-opposed-to-buying\/","title":{"rendered":"Good time to rent private condos as opposed to buying"},"content":{"rendered":"


\nThe new supply of private homes in the market will cap any rental increase.
\nWhile rents of private homes in Singapore edged up in the second quarter, it\u2019s still about 12 percent lower than the peak in Q3 2013, giving people a feasible alternative of leasing houses instead of buying, reported Singapore Business Review.
\n\u201cRental yields are currently at levels that, for those who think rationally, make renting more worthwhile than purchasing,\u201d said property consultancy Savills.
\nLooking for a rental property in Singapore?\u00a0Find an agent\u00a0to take the hassle out of your home search.\u00a0
\nIn Q2 2018, the Urban Redevelopment Authority\u2019s (URA) private residential index rose 1.0 percent quarter-on-quarter, but it is only 0.39 percent higher on an annual basis. The vacancy rate also slid to 7.1 percent from 7.4 percent in the previous quarter and 8.1 percent in Q2 2017.
\nIn particular, rents of landed homes rose 3.6 percent on a quarterly basis and 2.86 percent on an annual basis. For non-landed homes, rents rose 0.6 percent quarter-on-quarter, but were unchanged year-on-year.
\nSavills also revealed that average monthly rents of luxury private condos edged up 0.5 percent to $4.11 psf during the second quarter due to limited supply, as more developments sold en bloc were demolished.
\nAccording to its senior director for research Alan Cheong, even though rents of private homes have improved slightly from Q1 2018, it is unlikely to increase significantly this year.
\n\u201cThere is still a continuing stream of new supply coming onto the market and this would cap any rental increase. Thus rents may just bump around at current levels in 2018, he explained.
\nBut despite Savills\u2019 modest rental growth forecast of 2.0 to 3.0 percent for the entire year, people are still likely to choose buying over leasing, particularly en bloc sellers.
\n\u201cWe believe that most buyers in general are not driven by such rational thinking and would still rather purchase at least a replacement unit and deploy their remaining collective sales\u2019 proceeds to acquire another property for investment,\u201d it said.
\nMeanwhile, Edmund Tie & Co\u2019s CEO Ong Choon Fah thinks that landed homes are still a better investment than private condominiums due to the former\u2019s spaciousness and numerous facilities.
\nSpecifically, she highlighted Bukit Sembawang Estates\u2019 freehold Watercove project, a landed housing project with condo-like amenities like a barbecue corner, swimming pool and sea views.
\nCheck out PropertyGuru\u2019s\u00a0properties for rent! Alternately, refer to our other\u00a0handy rental guides, or 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…Good time to rent private condos as opposed to buying<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The new supply of private homes in the market will cap any rental increase. While...<\/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-98271","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-pz1","jetpack-related-posts":[{"id":120222,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/about-4600-rental-tenants-acquired-their-first-homes-with-help-of-housing-grants\/","url_meta":{"origin":98271,"position":0},"title":"About 4,600 rental tenants acquired their first homes with help of housing grants","date":"February 8, 2021","format":false,"excerpt":"\r About 4,600 rental tenants acquired their first homes with help of housing grantsIn the past five years, more than half of the 4,600 rental households purchased a three-room flat while around a quarter bought a four-room flat. The HDB support team targets to reach out to 1,000 rental households\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/02\/older-hdb-flats-still-in-demand.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":117942,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-private-home-prices-up-0-3-in-q2-2020\/","url_meta":{"origin":98271,"position":1},"title":"Singapore private home prices up 0.3% in Q2 2020","date":"July 24, 2020","format":false,"excerpt":"\r Private home prices in Singapore rebounded 0.3% quarter-on-quarter in the second quarter of 2020.\u00a0 Private home prices in Singapore rebounded 0.3% quarter-on-quarter in the second quarter of 2020, following a 1% decline in the previous quarter, revealed the latest report from the Urban Redevelopment Authority (URA). The report noted\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":102395,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-rental-market-to-soften-on-lower-expat-arrivals\/","url_meta":{"origin":98271,"position":2},"title":"Singapore\u2019s rental market to soften on lower expat arrivals","date":"December 19, 2018","format":false,"excerpt":"\r Expatriate housing packages have also been on the downtrend in recent years, placing some downward pressure on rental growth.\u00a0 Singapore\u2019s rental market is expected to soften next year on the back of the declining number of expats coming into the city-state. The number of non-residents in Singapore dropped by\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":118028,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-investment-sales-muted-in-q2-2020-but-buying-activity-to-increase-edmund-tie\/","url_meta":{"origin":98271,"position":3},"title":"Residential investment sales muted in Q2 2020, but buying activity to increase : Edmund Tie","date":"July 30, 2020","format":false,"excerpt":"\r Despite a muted market, the real estate consulting firm expects buying activity to increase, with new projects launching in the second half of 2020. The resale market is also expected to see stronger sales as viewings resume.\u00a0 Residential investment sales in Singapore were muted during the second quarter of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":119970,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-up-in-q4-2020-while-new-homes-sales-fell\/","url_meta":{"origin":98271,"position":4},"title":"Private home prices up in Q4 2020, while new homes sales fell","date":"January 22, 2021","format":false,"excerpt":"\r For the whole of 2020, private home prices rose 2.2%, down from the 2.7% increase registered in 2019. Singapore saw private home prices increase for a third consecutive quarter by 2.1% quarter-on-quarter during the fourth quarter of 2020 \u2013 the steepest quarterly increase in over two years. For the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/01\/Kopar-At-Newton-Condo-By-CEL-crop.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":118074,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-rents-to-face-downward-pressure-in-the-coming-months\/","url_meta":{"origin":98271,"position":5},"title":"Residential rents to face downward pressure in the coming months","date":"August 4, 2020","format":false,"excerpt":"\r Leasing demand will likely weaken given that the ongoing economic slowdown\u00a0and\u00a0border control measures are reducing the pool of limited tenants within the market. Residential rents in Singapore are expected to continue facing downward pressure over the coming months, reported Singapore Business Review citing JLL. This comes as leasing demand\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\/98271"}],"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=98271"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/98271\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=98271"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=98271"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=98271"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}