There are a number of reasons why individuals may choose to rent a home rather than purchase one. For example, some HDB rules and grants make it harder for some individuals to purchase flats. Others may have a hard time getting approved for a home loan, or may prefer to avoid this financial burden altogether. Perhaps based on these factors, renting has become an increasingly popular practice in Singapore. In order to help renters understand the market and find an affordable place to live, we analysed updated rental prices and provided tips on reducing their rental cost.
Rental Prices Vary Significantly by NeighbourhoodAs renters might suspect, certain areas of the island are significantly more expensive than others. For example, we found that the median monthly rent for a 4-room HDB flat in Central (S$2,700) is S$1,000 more than in Bukit Panjang and Choa Chu Kang. It
...