FoundOnEdgeProp: Condominiums with affordable asking rents
By Elizabeth Choong
/ EdgeProp Singapore |
A one-bedroom unit in Urban Vista is listed for rent at a low price of only $1,200 per month. (Picture: EdgeProp Singapore)
The surge in residential rents during the pandemic has been the talk of the town. The double whammy of low condominium completions and unexpected demand from locals pushed residential rents to record highs in the last few years. However, the pace of growth for residential rents is expected to take a breather this year.
A weaker economy and growing job uncertainties have seen more tenants resisting large rental increments or seeking cheaper rental homes. A quick check of the rental listings on EdgeProp Singapore shows that affordable options are still available.
One-bedroom condominium units with asking rent of $2,000 per month or less
At the time of writing, there were almost 1,300 listings of one-bedroom condominium units available for rent, with asking monthly rents ranging from $1,200 to $8,000. Of these, there are about 30 listings with an asking rent of $2,000 per month or less.
There are two listings with asking rents of $1,200 per month. One listing is for a mid-floor unit in Urban Vista along Tanah Merah Kechil Link. The development is conveniently located opposite Tanah Merah MRT Station. Other nearby amenities include Bedok Stadium and Sports Centre, Bedok Market Place, and Simpang Bedok.
The second listing is for another mid-floor unit in The Dairy Farm along Dairy Farm Road. The development is located beside Dairy Farm Nature Park and CHIJ Our Lady Queen of Peace. It is also a short walk to Hillview MRT Station. The Botany at Dairy Farm, which is located within a 500m radius, sold over 48% of its units at an average price of $2,070 psf when it was launched last month.
There is also a listing each for Cavenagh House and Cavenagh Gardens. Both condominiums are older developments that are located within a 500m radius of each other in prime District 9.
Living area of the one-bedroom unit at Cavenagh House with asking rent of $1,500 per month. (Picture: EdgeProp Singapore)
The asking rent for the one-bedder at Cavenagh House is $1,500 per month, while the one-bedroom unit at Cavenagh Gardens has an asking rent of $2,000 per month. The difference in asking rent could be due to the closer proximity of Cavenagh Gardens to Centrepoint and Orchard Road.
Two-bedroom condominium units with asking rent of $3,500 per month or less
At the time of writing, there were almost 1,800 listings of two-bedroom condominium units available for lease, with asking monthly rents ranging from $2,800 to $20,000. Of these, 31 listings had an asking rent of $3,500 per month or less.
A high-floor fully furnished unit at Jalan Besar Plaza along Kitchener Road was listed with an asking rent of $2,800 per month. The mixed development in District 8 has a number of shops on the ground level and is located within walking distance of Jalan Besar MRT Station, City Square Mall, and Mustafa Centre.
A partially furnished unit in Rezi 3Two along Lorong 32 Geylang has the second-lowest asking rent of $3,100 per month. The boutique development is located opposite Kong Hwa School and within walking distance of Dakota MRT Station, Old Airport Road Food Centre and Shopping Mall, as well as Kallang Estate Market and Food Centre. City Plaza and Kinex are a short drive away.
A mid-floor unit at #1 Loft along Lorong 24 Geylang has a slightly higher asking rent of $3,200 per month. The development is located within walking distance of Rezi 3Two and Aljunied MRT Station. It is also a short drive to Paya Lebar Quarter.
Three-bedroom condominium units with asking rent of $5,000 per month or less
At the time of writing, there were about 1,800 rental listings of three-bedroom condominium units, with asking rents ranging from $3,500 to $45,000 per month. About 320 of the listings were for units with an asking rent of $5,000 per month or less.
Both condominiums are not within walking distance of any MRT stations. However, Eco Sanctuary is located beside the Bukit Timah Expressway, which provides easy road connectivity to the residents. The upcoming Dairy Farm Mall, which is located within a 1km radius, will provide convenience to the residents.
Residents of The Topiary enjoy the convenience of being within walking distance of Greenwich V and Fernvale Primary School. Additionally, The Seletar Mall is a short drive away.
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