It is very important to think through about location you are interested because it will be a determination of the benefits for you and your family. Price budgeting will also be one of the main factors in a decision which areas are suitable for you. Besides location, other factors such as the relative age of the property, availability of recreational facilities (pool, gym), playground for children and quality of interior decoration will have a great influence on rental value.
Choice is yours
For example, the rental cost of a 3 – bedroom condo in areas close to city centers such as Tanglin, Timah, Bukit and River Valley may vary from $7,000 and go up to $15,000 depending on the luxury. Condos located outside the city center in areas like Tampines, Ang Mo Kio, Woodlands, Yishun, Clementi, and Punggol are lower and may vary from $3,300 up to $5,000 per month.
Private apartments situated in city center, similar to condos but with fewer facilities and tend to be in older buildings may be found at a rental price from $5,000 up to $7,000. Ones outside city center may be rented at $4,000 per month.
Housing and development board flats in which more than 80% of Singaporeans are living are predicted for a tight budget. They do not come with luxury facilities and usually are located near local schools, markets, banks, shopping malls, train and bus stations. Rental price is mostly based on size and location of the unit where for example 3 bedroom HDB apartments near the city center are rented at $3,000 while one in the suburb can be found from $2,200 to $2,700. Some customers prefer to rent serviced apartments because they offer personalized services and hotel style facilities.
One of the reasons is also short-term staying and looking for a flexible contract. Flexible in the meaning of lease terms and can be done on a per-day basis, per week basis or on a per-month basis. These are usually 1-2 bedroom sized though appear also in the form of 3-4 bedroom units with a full furnishing, pool, and gymnasium. Most of them are located in the Orchard area and others in the River Valley, East Coast, and West Coast areas where a range of rental cost goes from $7,000-$14,000.
Fact is there is always something you can find that fits your budget in every category. Singapore offers a really wide range of available choices and prices. Even prices for necessities are quite moderate, such as public transport, food, clothing and basic education.
Basic rental steps
Usual steps in renting include signing a lease with the owner where usually they ask you to see your Employment Pass. There is also signing an inventory listing of all items provided by the owner. A deposit equivalent to one month’s rent is usually required for contracts made for over a year. Be wary of renting illegally distributed properties which include many small cubicles like rooms or the lack of basic amenities. One of the good things is there are no restrictions on non-citizens renting a residential unit. Shortage of available resources didn’t stop Singapore to develop comfortable living spaces for its residents starting from seniors from the basic public housing to acceptable good sized HDB flats for families.