More singles in Singapore are seeking more space and privacy during the pandemic and looking for their own place. But the costs can add up. If you are 35 and under, does it make sense to rent, or even buy a house?
Here’s how both options stack up against each other.
Cost of renting
Rents have
increased in recent months due to demand. In September this year, HDB rental prices rose by more than 8% from the year before.
However, prices depend on the flat’s location — whether it is in a mature or non-mature estate, its proximity to amenities and public transport — as well as the size of the flat.
Here’s how HDB rental prices across different towns in Singapore were in the third quarter of 2021:
Median Rents for 3-Room and 4-Room Flats (3Q2021)
| Town |
3-Room |
4-Room |
| Tampines |
$1,850 |
$2,200 |
| Bukit Panjang |
$1,680 |
$2,000 |
| Queenstown |
$2,000 |
$2,750 |
| Punggol |
$1,950 |
$2,000 |
Source:
Housing and Development Board...
