08-05-2023, 12:33 PM
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Way over budget': Why some young adults have given up on renting as prices rise
08-05-2023, 03:11 PM
Singapore's buoyant rental market shows no signs of slowing down, with rents rising further in the last quarter of 2022.
'I'm so exhausted': Tenants face hard choices as rents surge in Singapore
Chew Hui Min
@ChewHuiMinCNA
02 Feb 2023 06:00AM
SINGAPORE: To stay in Singapore or move somewhere else? To pay more and save on transport, or move to save on rent but spend more time and money commuting to work?
These were some of the considerations tenants shared with CNA when asked about their rental situation.
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Singapore's buoyant rental market has shown no signs of slowing down, with prices rising further in December.
Condominium rents increased 34.4 per cent year-on-year while Housing Board flat rents went up 28.5 per cent, according to flash figures from property portals 99.co and SRX.
The URA Rental Index, published earlier this month, showed an overall increase of nearly 30 per cent last year – a 15-year high.
Rents rose the fastest in Seletar, with prices up 33 per cent in 2022. This was followed by the MacPherson and Braddell area, then in Queenstown and Tiong Bahru, said analyst Christine Sun, citing URA data.
Ms Cecilia Li, a Singapore permanent resident who has studied and worked here since 2004, returned to China during the pandemic but decided to come back to Singapore for work in June last year.
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In 2018, she paid S$450 a month to rent a room in Telok Blangah. Last year, she managed to get a room in Tiong Bahru for S$750 without air-conditioning – but as prices continued to rise, the rate went well over S$1,000.
A quick search for property rental listings in the central region found that prices for a room in an HDB flat range from S$1,200 to S$1,800.
Ms Li, who works in publishing, said she has to leave Singapore before her lease ends as she cannot make ends meet. The Chengdu native's take-home salary is less than S$3,000 a month.
In a heartfelt post on business networking platform LinkedIn, she said: "I’m leaving Singapore for China at the end of February because of the rent hikes.
"I’m not good enough for Singapore, sorry I’m not a talent. I just want to stay at home and spend the rest of my life at home. I want to quit everything. I’m so exhausted."
'I'm so exhausted': Tenants face hard choices as rents surge in Singapore
Chew Hui Min
@ChewHuiMinCNA
02 Feb 2023 06:00AM
SINGAPORE: To stay in Singapore or move somewhere else? To pay more and save on transport, or move to save on rent but spend more time and money commuting to work?
These were some of the considerations tenants shared with CNA when asked about their rental situation.
Advertisement
Singapore's buoyant rental market has shown no signs of slowing down, with prices rising further in December.
Condominium rents increased 34.4 per cent year-on-year while Housing Board flat rents went up 28.5 per cent, according to flash figures from property portals 99.co and SRX.
The URA Rental Index, published earlier this month, showed an overall increase of nearly 30 per cent last year – a 15-year high.
Rents rose the fastest in Seletar, with prices up 33 per cent in 2022. This was followed by the MacPherson and Braddell area, then in Queenstown and Tiong Bahru, said analyst Christine Sun, citing URA data.
Ms Cecilia Li, a Singapore permanent resident who has studied and worked here since 2004, returned to China during the pandemic but decided to come back to Singapore for work in June last year.
Advertisement
In 2018, she paid S$450 a month to rent a room in Telok Blangah. Last year, she managed to get a room in Tiong Bahru for S$750 without air-conditioning – but as prices continued to rise, the rate went well over S$1,000.
A quick search for property rental listings in the central region found that prices for a room in an HDB flat range from S$1,200 to S$1,800.
Ms Li, who works in publishing, said she has to leave Singapore before her lease ends as she cannot make ends meet. The Chengdu native's take-home salary is less than S$3,000 a month.
In a heartfelt post on business networking platform LinkedIn, she said: "I’m leaving Singapore for China at the end of February because of the rent hikes.
"I’m not good enough for Singapore, sorry I’m not a talent. I just want to stay at home and spend the rest of my life at home. I want to quit everything. I’m so exhausted."
08-05-2023, 03:27 PM
If all along can stay with parents why go outside to rent and waste money?
Like myself just stay in parents HDB flat .
...zero rental expense.
Like myself just stay in parents HDB flat .
...zero rental expense.
I, being poor, have only my dreams; I have spread my dreams under your feet; Tread softly because you tread on my dreams.
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