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Properties For Rent In Singapore – Home For rent How to rent an HDB flat HDB room rental rates: How much side income you can earn from…
What if we told you that the spare room in your HDB flat is worth $500 a month if you rent it out?
Properties For Rent In Singapore
With the economy slowing in the wake of the whole Covid-19 situation, if you’re thinking about renting out for extra income, here’s how to determine how much your room is worth renting:
Landlord’s Guide: How To Rent Out Your Hdb Flat In Singapore
It’s not just houses or rooms in ‘popular’ neighborhoods or central areas that are in demand – there are tenants looking for housing all over Singapore. For example, someone who works at the airport may choose to rent a place in the east to live close to work; Students studying at the National University of Singapore (NUS) or Nanyang Technological University (NTU) may be looking for a place near their campus in Jurong or Buona Vista.
Below are the average Singapore HDB rental rates by district in 2019, which is also a good indicator of rental rates this 2020:
Location is an obvious determinant when assessing the market value of your HDB flat. But even within each HDB block, this value can differ greatly depending on factors such as how well furnished your home is.
. For example, your house might be close to a prestigious school, but if you’re renting to a single expat tenant, they wouldn’t care.
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HDB has a handy rental price tool to check the prices of recently rented HDB flats in any specific area of Singapore.
Simply select the city (or you can narrow your search down to the block number) and the period you’re looking for (looking at places rented for the last 6 months to a year will give you a good price indicator.
This can give you a good estimate, but unfortunately you can only pull in rental rates for entire units, not room rentals.
When it comes to renting rooms, many owners choose to rent them themselves rather than through an agent, so it’s best to check out platforms that allow direct owners to advertise.
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Not to toot our own horn, but… Ha, lah, we’re talking about ourselves. carousel Here. Tons of direct owners list their room rentals here. There was no less selfish way to say it.
First impressions matter. A lot! With good quality photos, people already place a higher value on your room right from the start.
Additionally, a study by photography professionals SmartShoot found that when potential renters are looking at a rental listing, they spend about 60% of that time looking at photos.
You don’t have to hire a professional. Just tidy up the room. Draw the curtains to let in the light. If you’re feeling fancy, stick a $3 wide-angle lens on your phone to make the room look more spacious.
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But don’t be a catfish, of course. Make sure the room looks just as presentable when your potential tenants come to see them.
Therefore, you should have a better idea of how much your room is worth in the Singapore rental market.
On average, a Carouseller earns $800 per month renting out their room on Carousell. That’s already $9,600 in passive income in one year! Check out how other owners of this room are doing with my HDB room rental here.
Convinced yet? We’re making your potential rental journey that much easier. Check out Rental+, a free program in partnership with FWD Insurance to make renting truly worry-free. Pay nothing AND get free insurance on your room or apartment rental. Click here to learn more about Rental+ !All Companies Company Incorporation Tax & Accounting Secretary Company Bank Account Work Visa & Immigration Payroll & HR Support
A Step By Step Guide To Renting Out Your Hdb Flat
Singapore consistently tops ECA International’s global liveability index list as the best place for Asian expats. Impressive infrastructure, low crime rates, easy access to services and a vibrant international community are some of the main factors favoring the country.
If you are an expat who has recently moved to Singapore, you will agree that finding the right house is the most critical task. It makes all the difference between having a great expat experience and one that is so-so.
Due to the strict rules and regulations, it is not very easy for foreigners to buy property in Singapore. As a result, many prefer to rent a house for themselves. In this process, we have put together a practical guide to help you with the home search process and find the home of your dreams.
The real estate market in Singapore is quite different from the rest of the world. About 80% is owned by the Housing and Development Board (HDB). Apart from this, you can also find condominiums, serviced apartments and landed properties. Let’s take a detailed look at the different options available for renting to foreigners.
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It is popularly known as “Condominiums” and is the first choice of most expats. Most are high-rise apartments that have various shared facilities such as gyms, swimming pools, gardens, play areas and barbecue areas. You can choose between fully furnished or semi-furnished rental units.
The number of rooms and the location are the main factors that influence the rent. Typically, the monthly rent for a 3 BHK (bedrooms, hall and kitchen) within the CBD is around S$4,000 and can go up to S$12,000. On the other hand, the monthly rent for a 3 BHK located in The Strip City starts from S$3,000 and can go up to S$7,000.
The owners of these properties are the owners and not the Government. The land consists of single-family homes, townhouses, semi-detached houses and bungalows. Rental and maintenance costs are usually quite high.
Approximate rent for a detached bungalow in a central location is around S$18,000/month. Typically, a 4 BHK bungalow is available for S$35,000/month. Townhouses and semi-detached houses are comparatively less expensive and can be rented for around S$8,000-S$13,000/month.
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These are an excellent short-term option, especially if you are staying in Singapore for less than a year. It is also a favorite among expats as it offers personalized hotel-style services. The serviced apartments are fully furnished and have a swimming pool and gym.
Depending on the amenities provided and the location, the average monthly rent for a 1 BHK unit can start from S$7,000 and can go up to S$14,000.
They are also called HDB houses. The Singapore government builds them. If you are on a tight budget, staying in an HDB unit is a great idea. They are often located in areas close to basic facilities such as schools, banks, shopping centers, clinics, public transport systems, etc. However, they do not have luxury services.
Monthly rent for a 3 BHK HDB flat near the CBD starts from S$3,000, while it ranges from S$2,200 to S$2,700 in other suburban areas.
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The choice of area depends mainly on the type of accommodation you are looking for. For example, if you want a country house with a beautiful garden, you should probably consider houses in suburban areas. If condos are more your style, you can find plenty of options in downtown areas.
Singapore is very well connected. It has an excellent public transport system. For people who prefer to use their cars, the city has adequate roads that connect with major highways.
In general, with Singapore’s compact size, you can expect to be able to reach busy places by car within a 45-minute commute. A journey from the airport to the CBD takes just 20 minutes.
Although you have to consider the hefty government imposed COEs (Certificate of Entitlement) that you have to buy and renew every 10 years in order to drive. The introduction of taxi services such as Grab or Go-Jek (equivalent to Uber) has added more options to the transport list.
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So getting around isn’t a problem, but your preferred commute time could be a determining factor in your choice of residence. So even though your office might only be a couple of kilometers away, if it requires an MRT ride and 2 bus rides, you can expect to spend 30 minutes door to door. To avoid this situation, choose your home in an area close to all your places of interest.
When looking for properties to rent in Singapore, you can either do it on your own or hire the services of an agent. Although we strongly recommend hiring an agent as there are strict rules and regulations for letting property and you need someone who knows the industry to get you the best deal.
It is not very difficult to find a suitable agent as advertisements can be easily found in brochures, newspapers and online. However, we recommend hiring someone from a leading real estate portal or a trusted company such as
Because agents use the same property database, you only participate with one. Be very clear about your budget, your needs and your wants when speaking with the agent to avoid disappointment and uneventful viewings. This will help agents show you the perfect property
Condos For Rent
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