With a massive supply of new-builds coming onto the market by 2016, limited demand due to employment restrictions, companies downsizing, slower population growth, government cooling measures and various other factors, the property market is becoming increasingly competitive for both landlords and sellers.
Private residential sales and rental prices throughout Singapore continue to decline, with eyebrow-raising reports of sales prices on Sentosa dropping around 43 percent from two years ago, meaning a 5 percent drop since the low of 2006. As Singapore heads towards a possible 10 percent vacancy rate (+/-30,000 units), tenants and buyers will have stronger negotiating power and plenty of choice at their fingertips.
While well-maintained and well-located homes will be better able to hold their rental prices, the rest of the market will be heading downward, and your property will have to have an edge on the others, so here’s my advice on securing the right tenants.
The days when a unit sat dirty and unpainted until an offer was received are gone; a lick of paint and a thorough cleaning, including curtains and windows, must be done before viewings commence. Welcome viewers as they enter from the heat and humidity with a cool, air-conditioned or breezy interior. Open the curtains and switch on the lights. Neutral, light colours make the space appear larger and do not clash with personal choices.
Kitchens and bathrooms are hugely important. Replace any dated, coloured bathroom suites; they cannot compete with the next-door unit that’s going for the same price with new, white hardware. For less than $2,000, you can update your bathroom and recover your money easily by renting your unit out more quickly. Kitchens can be cheaply spruced up by simply replacing the cupboard doors. An important note for landlords here: hot water in the kitchen, a hot-water washing machine and a dishwasher will all help.
Similarly, new air-conditioners reassure the tenant of lower electricity bills, no problems to come, and a landlord that cares. And finally, some properties definitely look better with furniture; look out for specialist companies who can “stage” your unit with rented furniture for as little as $200 a month to create the desired ambience; the tenant can then choose to rent the furniture, too.
For more on the best areas to live, see Expat Living’s neighbourhood round-up here, plus lots of specific area guides by expat residents here.
Check out Expat Realtor’s selection of hot properties below – with all the photos appearing in the gallery above. For more properties, head here, and for viewings, email firstname.lastname@example.org or call 6255 1027.
Light and Bright: Ming Teck Park
Size: 3,000 sq. ft. built; 1,800 sq. ft land
Bedrooms: 4 + 1
Type: Mid-terrace, landed
This reasonably priced, immaculate mid-terraced house is a pleasure to walk into; it has ample space and has benefited from a lovely renovation. Situated in a quiet street near Sixth Avenue and Jelita Cold Storage supermarket, it has light, bright rooms that are of a good size. There are four bedrooms and four bathrooms (the master with a Jacuzzi spa), wet and dry kitchens, a large roof terrace, plenty of storage, parking for one car and off-street parking for another.
Fantastic Farrer: Tulip Gardens
Size: 2,550 sq. ft
Bedrooms: 3 + 1
This lovely, low-rise older condo is all about location – it’s within walking distance of Farrer MRT station, Holland Village, Dempsey Village, Botanic Gardens and the Farrer wet market, and minutes by car from Orchard Road. The spacious two-storey maisonette has massive balconies off the lounge and master bedrooms, and has been freshly painted and renovated with an up-to-date kitchen, new lighting and new air-conditioning units. Park your car outside your own door and walk straight in. Great facilities, and very child-friendly.
Classy Cuscaden: Cuscaden Royale
SALE: View to offer
Size: 1,604 sq. ft
Located on a high floor in one of the most sought-after addresses in Singapore, this exclusive unit enjoys an unblocked view of greenery and the city from the bedroom as well as from the huge, L-shaped balcony off the living and dining room. Equipped with top-quality fittings and fixtures, Gaggenau kitchen appliances and more, this is a rare gem in the heart of Orchard Road. Within walking distance of international schools such as ISS, OFS, Chatsworth and EtonHouse, it’s also close to Orchard MRT station and the Orchard Road malls.
Marvellous Mimosa: Mimosa Villas
Size: 3,100 sq. ft built; 3,680 sq. ft land
Type: Semi-detached, landed
This gorgeous three-storey house has been recently renovated and boasts a big garden, large covered patios, a parking space and a private pool. It has an open-plan kitchen with separate wet kitchen and utility yard, spacious living and dining area, a maid’s room, a powder room and a storeroom.
The master bedroom with its own bathroom and balcony, plus a second bedroom and bathroom, are all located on the second floor. On the third floor is a huge bedroom that can be converted into two bedrooms sharing a bathroom and a terrace.
Close to the Australian, French and Stamford international schools, and 15 minutes by car from the CBD, the development has a shuttle bus service to Yio Chu Kang and Ang Mo Kio MRT stations. Perfect for families wanting a spacious home with plenty of room to entertain.
Marina Bay Beauty: The Sail
Size: 1,647 sq. ft.
This 99-year leasehold four-bedroom, three-bathroom unit is beautifully renovated. The living room and kitchen are spacious and bright, with amazing Marina Bay and sea views from both the living room and master bedroom. Suitable for a couple or for a family with kids, this is a great choice – either as an investment, or to live in yourself.
Plus, beautiful boat for sale!
A life on the ocean waves could be yours if you bought this 60-foot motor cruiser. It has a 19-foot beam, is Singapore-flagged and is licensed to carry 20 passengers. Ideal for use as a weekend home, for fractional ownership and for large charters, it has to be seen to be appreciated.
The boat is incredibly spacious and has a large, covered fly-bridge with dining and entertaining area. The main saloon has lounge and dining furniture, breakfast seating and a fully equipped galley with two fridges, a microwave, an electric oven, an electric hob and extractor, a dishwasher, a sink and granite counter tops.
- Full-beam sliding doors opening on to a large balcony.
- Family room with TV, seating and double bunk. Extensive storage, windows and Roman blinds.
- Utility room with washer, dryer and additional storage.
- Two single staterooms, bunk beds, Roman blinds, storage and writing desks.
- One family bathroom featuring solid granite bath with shower, granite basin and counters, and a marine toilet.
- Main stateroom featuring double bed with storage, Roman blinds, drawers and cupboards, and an en suite walk-in shower and basin in solid granite.
- Helm station, GPS, depth-finder, HARTS, navigation and safety equipment, control panels, Caterpillar engine, new electric anchor-winch, stainless steel chain and anchor, electricity generator and shore power, smoke detectors, fire extinguishers, water tank and mains.
- Solid teak decking throughout.
For viewing by serious buyers. Contact Daryl on 9231 8228.