Singapore Expats

Hi

I was wondering if somebody knows the current rental at Anchorage, we are staying there and its soon time for renegotiating the lease. Currently we pay 4k/m (1500sqft 3BR+1) which we find quite pricey for such a run-down place.

PS. On the URA site there were not enough transactions last Q to be noted down.

PPS. There are a number of apartments that are empty and have been so for the last 6 months.

It looks like the current advertised rate before negotiations is around 5k/m for a 1500sqft place

$Pripps wrote:Hi

I was wondering if somebody knows the current rental at Anchorage, we are staying there and its soon time for renegotiating the lease. Currently we pay 4k/m (1500sqft 3BR+1) which we find quite pricey for such a run-down place.

PS. On the URA site there were not enough transactions last Q to be noted down.

PPS. There are a number of apartments that are empty and have been so for the last 6 months.

4K is not that much when location is taken into consideration. For lower rentals you would have to move to Bukit Timah or Jurong, or to HDB.

The presence of empty units is not necessarily a sign that its overpriced. It can just as well mean that the owners perceive current rentals as underpriced.

Edmundfo wrote:

$Pripps wrote:Hi

I was wondering if somebody knows the current rental at Anchorage, we are staying there and its soon time for renegotiating the lease. Currently we pay 4k/m (1500sqft 3BR+1) which we find quite pricey for such a run-down place.

PS. On the URA site there were not enough transactions last Q to be noted down.

PPS. There are a number of apartments that are empty and have been so for the last 6 months.

4K is not that much when location is taken into consideration. For lower rentals you would have to move to Bukit Timah or Jurong, or to HDB.

The presence of empty units is not necessarily a sign that its overpriced. It can just as well mean that the owners perceive current rentals as underpriced.

All in the eye of the beholder, although I find the reasoning a bit strange, isn't it better to get something per month than $0 per month?

$Pripps wrote:

Edmundfo wrote:

$Pripps wrote:Hi

I was wondering if somebody knows the current rental at Anchorage, we are staying there and its soon time for renegotiating the lease. Currently we pay 4k/m (1500sqft 3BR+1) which we find quite pricey for such a run-down place.

PS. On the URA site there were not enough transactions last Q to be noted down.

PPS. There are a number of apartments that are empty and have been so for the last 6 months.

4K is not that much when location is taken into consideration. For lower rentals you would have to move to Bukit Timah or Jurong, or to HDB.

The presence of empty units is not necessarily a sign that its overpriced. It can just as well mean that the owners perceive current rentals as underpriced.

All in the eye of the beholder, although I find the reasoning a bit strange, isn't it better to get something per month than $0 per month?

Local Landlords would rather keep the apartment empty than lose face by renting out for less than another exact same apartment. I had the exact same discussion with a landlord who wouldn't reduce the month rental price by an amount that was equal to one month's rent over a 12 month period. This apartment remained empty for over 10 months before being rented out. I knew this as I rent an identical apartment in the same condo!

$Pripps wrote:

Edmundfo wrote:

$Pripps wrote:Hi

I was wondering if somebody knows the current rental at Anchorage, we are staying there and its soon time for renegotiating the lease. Currently we pay 4k/m (1500sqft 3BR+1) which we find quite pricey for such a run-down place.

PS. On the URA site there were not enough transactions last Q to be noted down.

PPS. There are a number of apartments that are empty and have been so for the last 6 months.

4K is not that much when location is taken into consideration. For lower rentals you would have to move to Bukit Timah or Jurong, or to HDB.

The presence of empty units is not necessarily a sign that its overpriced. It can just as well mean that the owners perceive current rentals as underpriced.

All in the eye of the beholder, although I find the reasoning a bit strange, isn't it better to get something per month than $0 per month?

Never underestimate the insane power of pride in this society.

Saint wrote:Local Landlords would rather keep the apartment empty than lose face by renting out for less than another exact same apartment. I had the exact same discussion with a landlord who wouldn't reduce the month rental price by an amount that was equal to one month's rent over a 12 month period. This apartment remained empty for over 10 months before being rented out. I knew this as I rent an identical apartment in the same condo!

Yeah, this is often the case, stubbornness over financial sense. If you meet one of those, leave them a final offer and move on to view other apartments.