By now, Singaporeans are used to hearing stories of million-dollar HDB flats sold for eye-watering sums.
However, it seems even the rental market is blowing up, with flats being rented out for a pretty penny.
For example, a flat in Bendemeer was said to have been rented out for S$4,600 a month.
Source: @homesbyanne on TikTok
The four-roomer is tastefully renovated and has an unblocked view of the surroundings.
The unbelievable transaction was revealed in a TikTok video by Ms Anne Ho, a real estate agent.
The flat in question is at Block 38A Bendemeer Road.
Source: Google Maps
It’s part of a cluster of blocks named River Vista, right next to the confluence of the Kallang and Whampoa rivers.
According to PropertyGuru, the 26-level block was completed in 2010 — meaning that it should still have 87 years left on its 99-year lease.
Ms Ho’s video gave us a look at the inside of the 92 square metre (sq m) flat, revealing its clean lines and comfy furnishings — just nice for a tenant to move in immediately.
The “tastefully renovated” kitchen is bright and functional, she said, adding, “What (sic) not to like?”
Source: @homesbyanne on TikTok
Perhaps best of all is the stunning view of the area, where the tenant will be able to see far off into the distance, without any buildings nearby obstructing their view.
To further emphasise how good the rental deal was (for the landlord), Ms Ho posted a list of the latest rental transactions in the same block.
Before this flat, which was filed on 12 Oct, a similar one was rented out on 4 May.
It went for just S$2,650 — almost S$2,000 less.
Source: Anne Ho on TikTok
In fact, in the last 2.5 years, the rental price that came closest was S$3,300 on 14 Jul 2021 — but for a five-room flat.
One five-room flat in the same block even went for just S$850 on 28 Aug 2020.
Apparently, the best rental yield comes from HDB flats, Ms Ho said in her caption.
Source: @homesbyanne on TikTok
Judging from this evidence, we can’t disagree.
As property prices have recently gone through the roof in Singapore, the Government has introduced some property cooling measures.
However, they may be a need to do something about exorbitant rental prices too, especially when it comes to commercial properties.
Though some tenants might be willing to splash out, others may end up effectively priced out of the market.
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Featured image adapted from @homesbyanne on TikTok.
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