The market will go through several phases next.
The first is that landlords will start to relax their requirements for tenants.
In a full landlord market situation, landlords will be very detailed in their requirements for tenants, such as nationality, flat, whether they are students or not, stipulated move-in time, length of tenancy, unchangeable terms of the lease, etc.
Then there will be a period of rent stabilization.
The price competition happens between tenants and tenants, and much of the previous rent increase was not the landlord asking for a higher price, but the tenants actively bidding for the room.
With fewer interested tenants, it's only natural that prices won't be as high.
And to be honest, it does reach a high point of the relative limit of the current income of the residents can afford, not do not want to give, is really not to give up.
Previously, I saw that some of my tenant friends would rather live in a hotel and wait for the rent to come down than accept the high rent from the landlord, but now the hotel rent in Singapore is also rising rapidly.
Hotel prices have reached their highest point in the last decade, especially with the recent F1 race coming up in Singapore, hotel prices started to soar at the end of September.
In the long run, Singapore will also be in a landlord-dominated market, and the likelihood of rents falling back to their previous levels is slim.
There's no way around it, Singapore is winning too much with this wave of lie-ins.
The more you delay, the easier it is to fall into anxiety, or to plan early and decide early.