Don't mess with the property market then you don't have to worry whether the rental go up or down. Buy the type or size of house that you can afford, then go and stay there. Don't be bother by whether the property price goes up or down.
In the long run so long as we are not overstretched and can sustain, it isnt a problem. I have been a landlord almost 20 years. Have ridden out subprime and covid. Not a problem as we keep healthy amounts in cash. If we bought low , it isnt a problem even when rents are low as it still covers. Moreover capital gains have been great.
Co-living, sub-rental may posed a higher risk for landlord, if strangers may have committed crime or used your property address for the purpose of illegal activities.
Singapore rental market is volatile by nature because its its largrly depends on foreigners they come and go, unlike other countries there is large number of local longterm renter
Looks like buying a condo for retirement with the intention to rent out is not a viable option bearing in mind the high cost of acquisition now. I agree market is very likely going south from here on.
I totally agree with you that the condo rental market is in trouble now. There is simply too many supply in the market. Some of my friends have problem getting tenants for their condos and some have their asking rental reduce by alot. Things are definitely not looking rosy.
Dragon mentioned about HDB. Just curious does the rental dropping also include room rental for both HDB and condo? How much does it cost to rent a room in Seng Kang for HDB and condo near if MRT?
Rich man problem. Many are even struggling to pay for their hdb. Sounds like a serious bread and butter issues but then affect only people with 2nd property and above. They are already living above average sgporeans.
Property market is headed for a modest down cycle. Those who going to be in the most trouble are those who bought leasehold in popular launches hoping for a quick flip. Even if you have holding power, the lease draw down from bagholding during the down cycle will eat into the resale price.
2 of my friends managed to rent out their condo at holland road n Simei recently. Their rentals are still good .. I do not think the rental market is all doomed as mentioned. There r many expats who still come to work in Singapore. In fact it is those friends who bought properties in jb that are bleeding. They said Malaysians do not buy condo as they only want to buy landed so they have exit problem.. cannot sell their properties. Another few friends told me the landlords in Malaysia do not pay condo maintenance fees n after a few years the condo become old n not well maintained n they have problem renting them out .. new condo sprout out n tenants go for new condo .. rental issue .. So before u put your $ to buy MY properties, think who are u going to sell to next time .. Over the years, many friends have bought Malaysian properties n so far, none have made any $ (after conversion to sgd). I will consider v v careful before I put my $ there. Ok to go there for food, massage, groceries but for investment, I will think twice ..
@@dragontan6132their condo is in holland road, not anywhere near tertiary institutions.. the other one in Simei also not near any institutions.. It may take a longer time to rent out but definitely not as doomed as u make it to be. Many expats especially those in finance are still coming in. Singapore does have a long list of talents from overseas wanting to come here to work n live. We are now a very attractive city for foreigners who want to work, bring up kids in sg. Those foreigners that left Singapore may not be the top talents that we want to attract. So no need to be alarmed that some foreigners want to relocate elsewhere. For every 1 foreigner who wants to relocate, 100 more are on the wait list to come here to work n bring up children. Singapore is now a powerhouse.. we want talents that can lead our guppies so they will have budgets for our rental.
@@dragontan6132 yes soften compared to the hike n craze in 2023 but definitely not in trouble as stated on the headline of this video.. In fact I think properties r back to those pre Covid days ..buy properties for long term, not for speculation.. In the long term, population will increase, there will be need for housing.. it can be used to hedge against inflation. Research shows that in a normal interest rate environment, every 10 years the property price will double n I found that this is true.
I have an one bedroom condo. Before covid, i was renting out at $2000. When rental peak, it was rented out at $3200. Now it is going at $2700. Still better than before covid.
But Ku Wee Yong said this: "Based on the new sales by developers in the last 5 months, we will be lucky to hit a total of 6,000 units sold by developers in the whole of 2024. A line in the article about Govt Land Sales, "The total supply of 11,110 potential new private homes that the government is releasing this year will be the highest supply introduced into the market in a single year since 2013."
But I dun think it will b so smooth like local MRT in SG. Would still be time consuming. And those who dun mind to travel back is only those live in JB near border. Not everyone can stay in JB and can commute to SG daily for work in terms of immigration and convenient reasons.
Rentals fluctuate all the time in SG. This is normal. We came out of COVID with severe under supply situation which drove up rents. Right now there is a push back due to more incoming supply of housing. This is expected. Those landlords that can survive are those that are not heavily leveraged. Also, if you can survive during COVID times, you can survive anything. This period now isn't that big of an issue.
From URA: Internal partitioning works within a residential unit can be allowed without planning permission from URA if the unit continues to retain a self-sufficient layout with essential communal spaces and amenities. This means the residential unit should generally maintain a regular-sized living/dining area of 20sqm in size and 3m in width or larger. The original layout of spaces like kitchens, service yards and balconies etc. should also be retained and these spaces are to be excluded from the living/dining area computation.
For HDB, Only bedrooms originally constructed by HDB can be rented out. All other parts of the flat (including partitioned rooms) cannot be used as bedrooms for tenants.
When that someone so over estimated the market that they could collected way over 100% more property tax in 2023. LL especially those in condo knew they are going to be in trouble. Not only does interest rate remain high, principle for condo are always way higher.
Current rental prices are still way ahead of pre-covid levels. Let inflation guide capital appreciation and rentals cover the mortgage and cash flow. perfect combination!!
20,000 PROJECTS do not mean 20,000 units of condominiums. 1 condominium project can have 3 blocks of condominiums. Each block can have 50 Units. So 20,000 projects can mean 20,000 x 3 x 50 = 300,000 condominiums additional. Coming on the market in 1 year. Did Dragon Tan use the correct terminology? If he does not know the difference, then what kind of real estate "expert" is he?
Why not, if 2 yrs ago you leased out a 1200 sq ft 2 room condo that 100 m away from mrt station only at $2600, coming oct lease expire your neighbour is renting out 3.3k, you should hv no problem to renew yr rent to $3.2k.
Even down market I also increased rental, not much 50 to 100 during down turn, long term tenants will not want the trouble to move. Good landlord hard to come by.😊 after Covid is 50 to 100% increase 😂.
Very good news....now is time to force sell condo as low rental can't cover mortgage repayment + possible retrenchment, RTS is also coming in end 2026! Do not trust ppty agents
Unfortunately, Rental markets are managed by property agents and not owners. Agents usually doesn't lower the rentals despite the fact rentals before covid was much less. Owners and agents should understand market is cooling off and they should not expect the rentals as before anymore. otherwise, they anyways face the heat of loan EMI's and rising housing tax.
That is why we shouldn't be swayed too much by housing agents to purchase properties as "investment" and take all too much loans. It all boils down to how much leverage U take on and you and only yourself can truely decide how much loan you want take on. Don't be persuaded or be sweet-talk by those housing agents..end of day, U default on Ur loan or have cash flow problem..the agents wouldn't be there to "help" you. Once they obtain their commission, their job is done and they disappear
😂😂😂 .. not all from hell . There are good souls as well . Human is capable of doing both good and bad … i have seen agents doing pro bono for the poor too .. i applaud them as well
@@dragontan6132 well agents are typical salesman..they only communicate and mention good pointers and avoid bad pointers outright. You don't ask, they wouldn't mention outright. You ask, they reply in general or try to structure the reply in a positive manner to lessen the impact of negativity.. so trust no one but your own good self judgement and calculate your own risk. Rmb to factor in future loss of income (due to unforeseen circumstances/health issues), loan interest increase (alot didn't factor that and assume that loan repayment sum will remain the same), increase in mthly maintenance/sinking fee.. Housing loan repayment should be limited to max 10% of one's income.
Mr Loo, please refrain from interrupting. It is not only basic manners, but also basic interviewing skills not to interrupt during an interview. Thanks.
I think his interruptions were well timed and managed to allow Dragon to add additional information he would otherwised have missed when addressing a less familiar audience.
Mr Loo is not doing an interview. Don't think he was interrupting. It was more like a chat session with a friend. You need to learn to use "kindly refrain" and not "pls stop". Do not tell others "pls learn". It sounds condescending. I hate to say this but you need to learn more about being polite
People think they can get "extra" money from rental.. Just have to be realistic about it that it is not always the case. During covid, it is shown that remote work is possible so all those backend support can move or move back to lower cost countries... Also, all these FWA policy is a double edged sword also.
BY 2030 SINGAPORE POPULATION WILL CROSS 7 MILLION PROPERTY PRICE WILL INCREASED BY 50%. THE GOV HAD ONLY 1 WAY TO GROW THE ECONOMY IS BY “UNLIMITED INCREASE OF FOREIGNERS INTAKE”. SINGAPOREAN IN SINGAPORE JUST INVEST IN PROPERTY BECAUSE SINGAPORE POPULATION WILL GROW TO 7 MILLION AND 8 TO 10 MILLION BY 2045. 🙈🙈🙈
Don't mess with the property market then you don't have to worry whether the rental go up or down. Buy the type or size of house that you can afford, then go and stay there. Don't be bother by whether the property price goes up or down.
In the long run so long as we are not overstretched and can sustain, it isnt a problem. I have been a landlord almost 20 years. Have ridden out subprime and covid. Not a problem as we keep healthy amounts in cash. If we bought low , it isnt a problem even when rents are low as it still covers. Moreover capital gains have been great.
How to make big money like that?
Likely ocr.. City fringe especially near mrt no shortage of demand. 4.5k+ for 2b2b minimum
Good news for young house buyers. House is primarily for stay!
Co-living, sub-rental may posed a higher risk for landlord, if strangers may have committed crime or used your property address for the purpose of illegal activities.
That's Way of The Dragon. Good job. 👍👍
Thks Mr Loo and Dragon for the wonderful sharing. Very meaningful. 👍👍
Singapore rental market is volatile by nature because its its largrly depends on foreigners they come and go, unlike other countries there is large number of local longterm renter
Thank Mr Loo and Dragon for sharing the recent developments of Spore property market.
Looks like buying a condo for retirement with the intention to rent out is not a viable option bearing in mind the high cost of acquisition now. I agree market is very likely going south from here on.
Hello $5500 for seng Kang 3br is too high at the beginning la. City fringe or RCR areas won't drop much one
The tides have turned...
I totally agree with you that the condo rental market is in trouble now. There is simply too many supply in the market. Some of my friends have problem getting tenants for their condos and some have their asking rental reduce by alot. Things are definitely not looking rosy.
Still have tenants around .. its about pricing
@@dragontan6132during the 2000 era, we landlord suffer the most. Lucky we have PAP! 😅
Dragon mentioned about HDB. Just curious does the rental dropping also include room rental for both HDB and condo? How much does it cost to rent a
room in Seng Kang for HDB and condo near if MRT?
Rental in Sin under control….look back 5, 10 years ago. Chilli, onion price went up by a lot but rental? Not really.
Very Good
Rich man problem. Many are even struggling to pay for their hdb.
Sounds like a serious bread and butter issues but then affect only people with 2nd property and above. They are already living above average sgporeans.
Property market is headed for a modest down cycle. Those who going to be in the most trouble are those who bought leasehold in popular launches hoping for a quick flip. Even if you have holding power, the lease draw down from bagholding during the down cycle will eat into the resale price.
Care to explain what u mean by modest down cycle?
2 of my friends managed to rent out their condo at holland road n Simei recently. Their rentals are still good .. I do not think the rental market is all doomed as mentioned.
There r many expats who still come to work in Singapore.
In fact it is those friends who bought properties in jb that are bleeding. They said Malaysians do not buy condo as they only want to buy landed so they have exit problem.. cannot sell their properties.
Another few friends told me the landlords in Malaysia do not pay condo maintenance fees n after a few years the condo become old n not well maintained n they have problem renting them out .. new condo sprout out n tenants go for new condo .. rental issue ..
So before u put your $ to buy MY properties, think who are u going to sell to next time ..
Over the years, many friends have bought Malaysian properties n so far, none have made any $ (after conversion to sgd). I will consider v v careful before I put my $ there.
Ok to go there for food, massage, groceries but for investment, I will think twice ..
Yes .. as mention , tertiary estates, high employment catchment area like Business park are still doing stable😊
@@dragontan6132their condo is in holland road, not anywhere near tertiary institutions.. the other one in Simei also not near any institutions..
It may take a longer time to rent out but definitely not as doomed as u make it to be.
Many expats especially those in finance are still coming in.
Singapore does have a long list of talents from overseas wanting to come here to work n live.
We are now a very attractive city for foreigners who want to work, bring up kids in sg. Those foreigners that left Singapore may not be the top talents that we want to attract. So no need to be alarmed that some foreigners want to relocate elsewhere. For every 1 foreigner who wants to relocate, 100 more are on the wait list to come here to work n bring up children. Singapore is now a powerhouse.. we want talents that can lead our guppies so they will have budgets for our rental.
@@SilverSpoon2022 🫰🏻 soften not doom .. sg fundamental still good 🫰🏻
@@SilverSpoon2022not doom la .. soften .. sg fundamental is good
@@dragontan6132 yes soften compared to the hike n craze in 2023 but definitely not in trouble as stated on the headline of this video..
In fact I think properties r back to those pre Covid days ..buy properties for long term, not for speculation..
In the long term, population will increase, there will be need for housing.. it can be used to hedge against inflation. Research shows that in a normal interest rate environment, every 10 years the property price will double n I found that this is true.
I have an one bedroom condo. Before covid, i was renting out at $2000. When rental peak, it was rented out at $3200. Now it is going at $2700. Still better than before covid.
Should consider inflation and mortgage costs.
Cost of everything has gone up tremendously, cost of repair, GST, maintenance fees, taxes
Property tax have increase substantially. High rental income = more tax
$2700 - gov tax-maintanence-sinking fund.And unlikely you fully paid?
Then only capital gains asset. No need cash flow or out of pocket every month also ok
But Ku Wee Yong said this: "Based on the new sales by developers in the last 5 months, we will be lucky to hit a total of 6,000 units sold by developers in the whole of 2024. A line in the article about Govt Land Sales, "The total supply of 11,110 potential new private homes that the government is releasing this year will be the highest supply introduced into the market in a single year since 2013."
As a foreigner who is renting, I am rejoicing. 😁
Minimum lease legally is 3 month for private.
HDb also very bad now rents falling - not good to depend on rental income anymore 😢
Problem of co living is cleaning, cooking, share of fridge, washing machine. High wear and tear.
No one wants to be responsible
Yes … that’s why some landlord can accept some landlord cannot accept
Condo in the city centre, rental did not change and in demand. Maybe only affect suburbs.
Yes business park and financial institution area good employment catchment area .. stable
That’s what I am experiencing too.
For rental income, never buy OCR.
@@HawkishMerlion1965 clever!
From Sg scenario,Too many supply but low domestic income. Just hang the price in the sky. 2:07
If the RTS is ready. I think the rental market will worsen.
Transportation cost
But I dun think it will b so smooth like local MRT in SG. Would still be time consuming. And those who dun mind to travel back is only those live in JB near border. Not everyone can stay in JB and can commute to SG daily for work in terms of immigration and convenient reasons.
RTS : I don't think it has adverse effects on rent
Don't worry, most properties investment is short term pain but long term gain. Remember a bird in hand is worth two in the bush.
Rentals fluctuate all the time in SG. This is normal. We came out of COVID with severe under supply situation which drove up rents. Right now there is a push back due to more incoming supply of housing. This is expected. Those landlords that can survive are those that are not heavily leveraged. Also, if you can survive during COVID times, you can survive anything. This period now isn't that big of an issue.
Mr Loo rocks ! ... 😊
Location ! Location ! Location !
From URA: Internal partitioning works within a residential unit can be allowed without planning permission from URA if the unit continues to retain a self-sufficient layout with essential communal spaces and amenities. This means the residential unit should generally maintain a regular-sized living/dining area of 20sqm in size and 3m in width or larger. The original layout of spaces like kitchens, service yards and balconies etc. should also be retained and these spaces are to be excluded from the living/dining area computation.
This means the residential unit should generally maintain a regular-sized living/dining area of 20sqm in size and 3m in width or larger.
So partition living room into 2 bed rooms is illegal!
@@qiangming3152obviously
Private and public housing partitioning requirements might be different.
For HDB, Only bedrooms originally constructed by HDB can be rented out. All other parts of the flat (including partitioned rooms) cannot be used as bedrooms for tenants.
When that someone so over estimated the market that they could collected way over 100% more property tax in 2023. LL especially those in condo knew they are going to be in trouble.
Not only does interest rate remain high, principle for condo are always way higher.
Nothing new
Demand vs Supply
Location too
Current rental prices are still way ahead of pre-covid levels.
Let inflation guide capital appreciation and rentals cover the mortgage and cash flow. perfect combination!!
minimum lease is 3 months. Not 6. URA
Jai Hind. I am still bullish on HDB rental because Indian origins would normally rent there,
Yup .. we still have tenants around
Jai Hind!
😂😂😂 must ask for 3 months deposit, if not they will not take care of the unit. I prefer not to rent to them 😂
Headache renting them, lousy social behaviour, noisy kids no parental supervision. Especially in hdb estates.
You talking bout malaysia or Singapore????
Certain nationalities cannot rent at all.
Market up and down..why so kan chiong!
oh nooo
Not tht bad one....always be fts coming in, younger ones too, some just share 4 pax in 3 rm, still managable
20,000 PROJECTS do not mean 20,000 units of condominiums. 1 condominium project can have 3 blocks of condominiums. Each block can have 50 Units. So 20,000 projects can mean 20,000 x 3 x 50 = 300,000 condominiums additional. Coming on the market in 1 year. Did Dragon Tan use the correct terminology? If he does not know the difference, then what kind of real estate "expert" is he?
Every year 30k citizens & PRs are indicted into the population
Is the property market forming a bubble? 🤔
co-living by partitioning is illegal no?
Can don’t get caught 😊
And there are still people thinking of increasing rental.
Why not, if 2 yrs ago you leased out a 1200 sq ft 2 room condo that 100 m away from mrt station only at $2600, coming oct lease expire your neighbour is renting out 3.3k, you should hv no problem to renew yr rent to $3.2k.
@@erickoh521200fts condo at 2.6K is really cheap, yes should follow the market and adjust upward.
Even down market I also increased rental, not much 50 to 100 during down turn, long term tenants will not want the trouble to move. Good landlord hard to come by.😊 after Covid is 50 to 100% increase 😂.
Very good news....now is time to force sell condo as low rental can't cover mortgage repayment + possible retrenchment, RTS is also coming in end 2026! Do not trust ppty agents
Wow … not that jialat .. sg fundamental still stable .. ok one
@@dragontan6132not to worry,if private condo jialuck,million hdb lagi jialuck😂🎉
All talk rubbish la rental coming down ? Do you do research ? No clues and base at all just .. many landlord still holding high refuse to negotiate..
YOU TALKING BOUT MALAYSIA OR SINGAPORE?????
I am an Co-Living Operator. Co-Operator maintain the premise more proper than renting to a family
What the URA on this?
How much does co-living operators charge for management fees? Who pays agent commission when filling in tenants?
Right now, stamp duty is paid on one TA, but when subletting brings in so much more, how is the money made taxed?
Unfortunately, Rental markets are managed by property agents and not owners. Agents usually doesn't lower the rentals despite the fact rentals before covid was much less. Owners and agents should understand market is cooling off and they should not expect the rentals as before anymore. otherwise, they anyways face the heat of loan EMI's and rising housing tax.
light at 2025 onwards when TOP is lesser...
Yup .. from 2025 is better .. population and influx of expat will increase with stronger global economy
@@dragontan6132 hang in there
Thank you government for launching unlimited GLS and BTO, house is for own stay not to Huat Huat
Can u recommend your msian property agent pls??
Email me! Loochengchuan@gmail.com
That is why we shouldn't be swayed too much by housing agents to purchase properties as "investment" and take all too much loans.
It all boils down to how much leverage U take on and you and only yourself can truely decide how much loan you want take on.
Don't be persuaded or be sweet-talk by those housing agents..end of day, U default on Ur loan or have cash flow problem..the agents wouldn't be there to "help" you.
Once they obtain their commission, their job is done and they disappear
😂😂😂 .. not all from hell . There are good souls as well . Human is capable of doing both good and bad … i have seen agents doing pro bono for the poor too .. i applaud them as well
@@dragontan6132 well agents are typical salesman..they only communicate and mention good pointers and avoid bad pointers outright.
You don't ask, they wouldn't mention outright. You ask, they reply in general or try to structure the reply in a positive manner to lessen the impact of negativity.. so trust no one but your own good self judgement and calculate your own risk.
Rmb to factor in future loss of income (due to unforeseen circumstances/health issues), loan interest increase (alot didn't factor that and assume that loan repayment sum will remain the same), increase in mthly maintenance/sinking fee..
Housing loan repayment should be limited to max 10% of one's income.
sleazeballs
Anyone suprised?
Loo, can i have Dragon.. contact.thxs.
seems like a lot of fomo into JB properties gg
private condos rental regulated is 3mths minimally not 6mths
3 months for private residential properties (condominiums, apartments, landed homes)
6 months for public housing (HDB flats)
Yes .. 3 mth for condo and 6 mth for hdb .
So they should verify or fact check before publishing lest giving wrong impression!
@@gregsing652 I think Dragon was giving the answer that covers both private and HDB properties.
minimum 3 months for Condo, 6 months for HDB......
What he is saying landlords prefer 6 months lease than 3 months.
Location location location again
Convenience ya .. important especially for older folks & younger children
How did he use his wife name to buy a condo?? Like the wife take the loan using his money?
Decoupling
Mr Loo, please refrain from interrupting. It is not only basic manners, but also basic interviewing skills not to interrupt during an interview. Thanks.
I think his interruptions were well timed and managed to allow Dragon to add additional information he would otherwised have missed when addressing a less familiar audience.
It is not an interview lah. Just two buddies taking turn to share their valuable insights with us. Appreciate it very much.
Old man only like to hear themselves talk. It’s the unfortunate truth .
Mr Loo is not doing an interview. Don't think he was interrupting. It was more like a chat session with a friend. You need to learn to use "kindly refrain" and not "pls stop". Do not tell others "pls learn". It sounds condescending. I hate to say this but you need to learn more about being polite
@@btbt2206I agree. I will remove the "please learn" part.
The “law” is 3 months la. How this guy can be so ignorant when he calls himself a property agent.
People think they can get "extra" money from rental.. Just have to be realistic about it that it is not always the case.
During covid, it is shown that remote work is possible so all those backend support can move or move back to lower cost countries... Also, all these FWA policy is a double edged sword also.
everything to pap voters are cheap
Can you stop interrupting the speaker. Old people always do that.
Aiyo don’t be so bad , uncle loo ask for clarification..host ask for more info ℹ️
The agent as always unclear. Dont know why you bring him into your videos
Dont buy condo
BY 2030 SINGAPORE POPULATION WILL CROSS 7 MILLION PROPERTY PRICE WILL INCREASED BY 50%. THE GOV HAD ONLY 1 WAY TO GROW THE ECONOMY IS BY “UNLIMITED INCREASE OF FOREIGNERS INTAKE”. SINGAPOREAN IN SINGAPORE JUST INVEST IN PROPERTY BECAUSE SINGAPORE POPULATION WILL GROW TO 7 MILLION AND 8 TO 10 MILLION BY 2045. 🙈🙈🙈
Shadenfreunde :D
Sufi’s, I need to gettinedd to add to your telegram