According to Singapore's real estate websites (99.co and SRX), the third quarter of 2022 saw an overall 36.18% rise in rents compared to the same period in 2021, which is higher than the previous years' increases combined!
According to the annual figures, flat rents increased by 34.4% in 2022 compared to 2021!
With such a high rate of increase, people are still facing a lack of prices and difficulty in finding properties.
Many landlords are even taking advantage of this to rent out sky-high prices for their homes, which is a huge pain in the neck.
One of the users reported that he was looking at a house for rent at S$6800/month, but in less than a day, it was snapped up for S$7500/month.
Don't think that HDB flats in Singapore are cheaper than flats.
According to HDB, a 4-bedroom flat in Seng Poh Road was rented for S$6,200/month in December 2022.
