Thursday, July 10, 2008

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Singapore Rent To Slide in the Months Ahead

Tenants in prime districts have abandoned their landlords who have been asking for sky-high rents for the less prime districts, reported Straits Times.

Residential rents in S'pore peaking -Straits Times, July 9 2008
THE soaring rents in prime locations that drove many expats to downgrade in the past year seems to be easing, with some condominiums seeing a fall of up to 12 per cent.
The rental slides are expected to intensify over the next three to six months, reversing a trend that saw some rents double or triple during the property peak last year.
Consultant Jones Lang LaSalle said increased supply from newly built condominiums and a weakening economy are pushing rents in choice locations down although rents in other parts of Singapore should stay stable.

Well, when landlords in prime districts start lowering their rents while that of the non-prime districts keep raising theirs , we'll just see tenants moving back. This is the way market works. Eventually, the entire rental market will adjust accordingly.

May also want to read:
History of Singapore Property 1960 to 2008
Buy or Not Buy: How to decide amid mixed market signals
When to Buy, When Not to by
Property Price Index Graph Plotter & Online Property Valuation
Your Property Investment Determines Your Financial Success in Your Life
HDB Resales: West Sees Highest Price Increase


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