SINGAPORE: Four years ago, single mum Katherine Chia paid S$1,000 to rent a four-room flat in Punggol. It is a monthly rate that would have been unimaginable even two years ago.
What is fuelling the bullish rental market? And what are the consequences, for renters and the wider population? The programme Talking Point finds out.CAUSE #1: CONSTRUCTION DELAYS In 2021, the proportion of Build-To-Order projects delayed beyond their estimated completion date was more than 90 per cent. Last month, the Housing Board reported that this has been reduced to about 40 per cent of ongoing projects.In the HDB resale market, demand for flats increased between 2019 and 2021, noted Sandrasegeran.At the same time, a growing number of flats reached their five-year minimum occupation period, when their owners were eligible to rent or sell the flats.
Traditionally, they are attracted to Clementi — one of Singapore’s oldest residential towns — said Sing Tien Foo, the Provost’s Chair Professor in the department of real estate at the National University of Singapore’s Business School. The pandemic paved the way for some young adults to look for more conducive work-from-home conditions, TODAY reported in 2020.
Better to rent condo
More like bullshit market
The cause? Plain for all to see its mismanagement by the highly paid guys in government and papsingapore. And they continue sitting on their asses doing NOTHING. Will be voting opposition in 2025 even if they field a one-eyed three legged cat
Ithis happens when incompetent people is inside the government , he turns a blind eye on the greedy people are reaping the money from the poor
Charge high coz want to earn more. No other causes.
come to Msia , one can get a 5ksq ft condo by the sea w facilities a mth
Because of limited number to stay in which 6 persons allowed
二手房交易量高導致房價走高了
Simple basic, demand - supply
I don’t get the hype with Punggol now. Until we actually see the digital hub open, we don’t know if it will actually attract enough potential tenants to warrant such a steep price for the flats in Punggol. As of now it’s just an insanely inconvenient location