Money Talks Podcast: What to know about renting in Singapore

[LaksaNews]

Jump to these key moments:

• 00:24 Bank interest rates; BNPL accreditation
  
• 07:55 Why more young Singaporeans can afford to rent
  
• 11:30 How much to budget for your monthly rent
  
• 14:12 Should I use a property agent?
  
• 17:19 HDB or private?
  
• 21:35 Reading through your tenancy agreement
  
• 27:36 Is rental insurance important?

The housing rental market in Singapore has gone through significant changes over the past few years. How should potential renters prepare themselves before taking the plunge? What red flags should they look out for in their contracts?

In this episode of Money Talks, Dr Lee Nai Jia, Head of Real Estate Intelligence, Data and Software Solutions with PropertyGuru Group gives his take.

File photo of condominiums and HDB flats in Singapore. (Photo: CNA/Syamil Sapari)
On how the younger demographic can afford to rent:

Baby boomers today … have built up their asset or their nest egg over time and quite significantly. So we are seeing … this group funnelling the purchases of (their) kids.

On what renters should look out for when checking out potential units:

Observe whether there is physical damage to the properties that are structural. This means leakage … check whether there are wet spots, especially in the kitchen area and the toilets. Those are the things that one must put a bit more attention to.

Find more episodes of Money Talks here.

A new episode of Money Talks drops every Tuesday. Follow the podcast on Apple or Spotify for the latest updates.

Have a great topic for us? Drop the team an email at cnapodcasts [at] mediacorp.com.sg

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