Caught off guard by the 60% increase of housing rent
By Prudent Dreamer  •  November 20, 2022
In case you’re a new reader, here’s a little background about me. I booked a BTO in 2021. While waiting for our BTO to be completed, my spouse and I are renting a condo unit. Our lease is usually a yearly lease, so each year, we either renew our rental or move to another place, depending on various circumstances (eg: job location, house condition, landlord character, etc). We like our current place and we intend to renew our lease for another year, with the same rental rate. We were obviously unaware of the current situation of rental market. About 2 months before the expiry of our current lease, our landlord contacted us and asked for 60% increase of our current rent. We were completely shocked. Our first instinct was to go into denial mode. The asking price is crazy, if we have to pay this price, we might as well find a bigger flat. Surely there has to be a better flat out there in the...
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By Prudent Dreamer
Hi, welcome to Prudent Dreamer. I’m a thirty-something working professional living in Singapore.

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