You may have heard about the soaring prices of Singapore’s Properties. This new up and coming country is taking the West by storm. Now, inflation is emptying the pockets of well-meaning visitors. We hope to provide you with a few tips to keep prices low on your next stay at Singapore.
The typical Singapore condo rental can run you upwards to 4 or 5 thousand dollars for a few people to 10 thousand for a family stay! Privately owned condominiums can cost a pretty penny in Singapore due to their crammed quarters. Most of the land is owned and operated by the government and only rented out for native Singapore people. If a private condo price isn’t in your budget, consider an HDB for rent.
The Housing Development Board Loophole
The government owned housing that comprises 80% of the market is only sold to a Singapore native. However, there is a loophole a foreigner can take advantage of. If the renter wants to share the apartment or condo with a foreigner, they can do so. Condos will go up for rent with one room blocked off that a renter will claim is their living space, while you have the rest of the condo to yourself. This loophole gives you the chance to rent at a reasonable price. TheseSingapore condo rentals won’t have amenities or luxuries like most privately owned properties. It will give you everything you need in the rental to live comfortably.
The most frugal way to go is an older HDB for rent. If it is 8 years old or older, you can get the best deal. At 8 years you can ask for 30% less than the price of a newer condo the same size. A 20-year-old HDB rental can be half the price of a brand new condo.
Find What You’re Looking for in Singapore
Searching for a rental property can always be difficult. A new country you are unfamiliar with can just make things even more daunting. HDB properties for rent can help you make a cheap option while still getting the basic needs in a rental. Check out properties in districts your interested in and see what kind of savings you can achieve!