SINGAPORE – When Mr Shawn Lau collected the keys to his two-bedroom Treasure at Tampines condominium unit in December 2023, he was anticipating a swift rental process in a market that seemed to promise lucrative returns.
However, what followed was a stark reality check. Landlords like Mr Lau have been left grappling with prolonged vacancies.
The once-hot rental market, characterized by high demand and good returns, has softened as newly completed units flood the market, real estate agents told The Straits Times.
Deals used to close within a day, but no longer, observed Mr Alex Low of PropNex Realty.
The…
“It is not a housing market that is working or fair,” says Sajjad Ahmad, who has been in the world of private renting for more than 40 years. “Rents are far, far too high.” But Ahmad is not one of the 11 million private tenants in England and Wales. Instead, he is among a growing number of landlords who now agree with many of their tenants that the system is broken.
He had 30 flats and houses across England – in Grimsby, Kirkby and Crawley – until he sold 16 last year. “I want to get out of the sector,”…
News Corp Australia Network
A real estate expert has predicted Townsville property prices will soar in coming years. Picture: Supplied
Townsville is tipped to lead property price growth across the country as local, relocating and investor buyers compete for a dwindling supply of homes in the NQ capital.
Craig Stack, Knight Frank senior partner Townsville and Mackay said he predicted Townsville would soon see one of the highest price growths in the Australian property market.
“Continuing strong demand for the low supply of existing housing in Townsville will lead to price growth, and we think the median sale price for…
“The lack of affordable and suitable rental options when living alone is likely to be implicated in these complex housing dynamics over time, contributing to a more enduring structural change of who can afford to rent independently without a second income to rely on,” the report said.
Low-income earners could only afford to pay $225 per week in rent, study author and Swinburne University of Technology researcher in urban and regional planning Margaret Reynolds estimated, and it was impossible to find rental properties for that price, especially in Sydney and Melbourne.
Rents have jumped since the research period. Sydney’s median…