Swiss Expat Who’s Changing Rental Market in Singapore
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- Опубликовано: 15 июн 2024
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Meet Dominic. He's from Switzerland but has been living in Singapore for 10 years. As we chatted, Dominic shared with me why Asians like to show off while Europeans don't, whether Singapore could really be called the Switzerland of Asia, and how to get your deposit back from the landlord when renting in Singapore. Enjoy!
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TIMESTAMPS:
00:00 INTRO
00:26 First Impressions of Singapore
01:18 Is Singapore the Switzerland of Asia?
01:41 What Do Swiss People Know About Singapore?
02:03 Swiss vs Singaporeans
04:05 Speaking Singlish
05:30 Deposit Problems When Renting
07:25 How to Rent in Singapore
08:15 Where to Rent in Singapore
09:17 Cost of Renting
12:15 Rental Market in Singapore
14:36 Fake Listings Problem
17:38 Comparing PropertyGuru and Rently
18:53 A Gift from Rently
TODAY'S GUEST:
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Hi Max, just want to say I really appreciate your channel. As a Singaporean, I have learnt a lot from the different perspectives, observations and insights from your interviews and interviewees.
🙏♥️
I am curious, where and when did you find 2-rooms HDB for $1000 rental fee? In Nov 2023, the rental price for 2-rooms HDB is starting from $2800 for decent units, far away from Central
It isnt possible unless it is a shady unit as in someone got murdered there or its haunted.
That could be the rent advertised.... by the scammers. 😂
This is a great service & business model. It really helps newbies in the rental market. 👍🏼
Interesting. Wish I knew about this service. Had issues with plenty of my landlords!
I lived in Robertson Quay when I was in Singapore years ago, highly recommend this place 😊
i had to double take and triple take when he said the weather is " much better here". 😂
Subjective phrase 😊 There are dudes that like summer all year long.
people from cold countries really like warmer weather like how we like colder weather
Singapore is too hot and too humid :-)
Price gouging by Land Lords is big in Singapore looks like.. Government has to have a good handle of the situation.
Singapore being clean is because they employ people from other poorer countries for a fraction of what they would pay the local. You can see them cleaning the streets 24/7.
If you are from these poorer countries your salary would be just enough to survive in an expensive place like Singapore. You share a room probably with someone else and will be visiting your home country to be briefly with your family once in two years. Not a fun way to live. This model will work as long as there are poor countries around Singapore.
he forgot the rain
Good video to guide our foreign friends coming
Good info!!
I loved singapore ❤❤❤❤❤
🏠✨ Love how it's makin life easier by gettin your deposit back with that Rently option. It's like, finally, technology's doin us a solid in the real world. Super curious to see how this will shake things up even more.
Hilarious how his accent melted into a strong Singaporean twang later in the video when he started talking about how the business works. Obviously he’s had to pitch it a number of times 😂
I’ve taken my landlord to small claims court and won.. signed the handover forms and a couple of weeks later they refused to pay the deposit back citing some nonsense about a scratched floor.. Have also had a really nice landlord. But would definitely prefer an impartial party in between. Can’t trust these landlords who think expats leaving singapore can be bullied into losing their deposit
This happens a lot in France too. Even when both parties are there to do the final inspection, landlords find a way around it. It's to the point many people just assume they will never see their deposits again right from the beginning. On the other side, there are lots of people who take advantage of the tenant rights as well.
Therr are bad expat tenant too which i experienced with a European Banker who insisted we paid him off privately on rental lease matter though his bank signed with us officially. 😊
Was your landlord Chinese
Some landlord is very kiasu. Like normal wear and tear is expected.
I have a lot of experience about expat and landlord.
1 good example
1) expat rented expensive apartment with marble floor and full modern kitchen. When he is leaving, the marble floor has a huge big stain and kitchen oven equipment broke down. So landlord wants to make good and that requires deposit to be used to. Tenant unwilling... Because it was negligent not normal wear and tear. The housing agent cane in and resolve the matter by having the floor polished and repair the oven and return balance deposit to the tenant. I think it's fair.
Why is the deposit not held by third party? Govt agency?
What about rental apartments that allow pets? I’ve heard this is an issue. Any suggestions on how to look for them or what areas? Thank you.
Я тоже жил 3 года в Дублине, а сейчас в Сингапуре - сталкивался с описанной ситуацией. Было очень маленькое количество предложений жилья, низкого качества к тому же
I was in Swiss last year (Geneva, Vevey, Montreux, Bern, Grindelwald, Jungfrau, Zurich and Basel) and I must say it was really the best country I have visited so far! People were all so friendly and I only met one unfriendly person (one staff at one famous attraction with falling water :X) where she was a bit unhappy I gave her a CHF100 note. But other than that everyone there were very welcoming and making sure we felt like home!
A 2 bedrooms hdb aka 3-rm type hdb, rental is more than 2k for sure!
u get it for 1k if u r white
Yeah, its 3k and above.
In the beginning he should have said something about the very high minimum wage in Switzerland and the effect that has on society there.
Not sure if I understood the business model correctly.
Instead of a 1 month security deposit (which you may or may not get back), tenants pay a 1 month++ commission (which they will certainly not get back)?
Hmmm....
Math is not mathing, since MOST tenants do get some->most of their deposits, even if not all, back.
Would probably appeal only to tenants who have a history of not getting most of their deposits back, although I am not sure if Rently would be willing to take on these tenants in the first place. (Since their profit is really = what the Landlords DO refund to them).
😅
Usually in my experience, when the landlord asks for such a huge increase in rental, they want you out, for whatever reasons.
That’s just how was the market last year
If you can pay their exorbitant rental fees you are more then welcome to stay, is all down purely to greed.
@@SpitfireZ2310 Greed definitely plays a part, but some of these landlords, even if you matched their rental increase, they might still go back and come back the next day to tell you they've increased the rent again. I'm just saying, sometimes there are also other reasons besides rent.
in some cases, but mostly just want more money
@@SpitfireZ2310it isnt greed. When market slumps tenants will push rents down. Its market forces
Nice interview Max. One tip, perhaps pay attention to you shaking your leg/foot continuously. It's a bad habit. If you don't care, just keep doing it :P
Another issue you should consider asking here is difficulty in people who are minorities (ethnicities) in getting rental unit. I have seen the agent not replying when you tell the ethnicity and it becomes quite difficult for minorities to get suitable rental unit.
correct, ppl keep saying SG isn't racist, then why am I being asked what my ethnicity is, whenever I talk to a real estate agent?
why dont you find out why the landlord does not like to rent to other race particularly one? So far my best tenants are Japanese, Indonesia also ok. The worse is not a secret, really faint when I came back from 2 weeks holiday last time when I was just renting out one room.
There is no solution to this. You can't force a seller to sell you something if the seller needs to share a life partially with you.
You just have to accept the reality and find a suitable one harder. Sometimes it is communication problem, especially elderly owner. In another words, rental market is smaller for you and you just have to adjust.
Either join a group and rent the whole unit (which is better as owner would not need to worry of sharing common place with strangers.
Ask yourself a question, if you have to share a room with a stranger, would you choose one you can communicate and able to get along? Of course. This is not racism, this is preference.
@@tanky815Japanese are the favourite. I prefer them to westerners for sure.
There are no regulations here in London either!
I was a landlord too and the deposit is there for a reason. Landlords need to be protected against errant tenants. I was just very lucky to rent to a group of Pinoy professionals who took care of my property.
I don't really know if rently will take off or if he might want to pivot. Don't see landlords signing up with rently. And there are many many individual landlords.
And it's fairly common not only in Singapore.
Singapore or Switzerland?
None
Sweden
Singapore for the cheaper food, weather and English. I live in Switzerland and eating out is expensive. It's a beautiful clean safe country but stuff here is expensive. Yes, you get paid higher wages than most countries but stuff is also more expensive here which is why swiss who live close to the border shop in neighboring France or Germany for cheaper groceries. Also, learning both high German and Swiss german is not easy. You need high German for most work but if you wanna truly integrate and make friends with the locals, you better speak swiss german😢. Singapore is just a more convenient country for a English speaking expat. That's for sure.
Insightful but could have included how much the interest rate on mortgage loans has increased. Mine increased from less than 2% to 5%. Some landlords were just trying to cover the increase.
by scamming your tenants? I don't think that's an ethical way to go, and whatever investment always comes with risks, your tenant shouldn't be bearing your risks.
how is 3% increase translate to double the rent?
@@osirusj275Thats in ireland, not singapore. There is no cap on rent increases in singapore so its not 3%, it can be 50% or whatever.
@@JL_hahaha0303Its not scamming if the market is like that, thats just what the market is. $6000 to $14,000 is insane through, that was probably them trying to push the tenant out.
@@kelvinpang438 so how much has the mortgage interest increased in sg? So means no matter how much mortgage increases, the landlord can by anytime increase rent as per their liking if even tho there's mortgage doesn't increase by much?
I love Singapore! Foreigners go to the country with a business idea, set it up easily, and boom, they get down to work. Little corruption. Safe. Convenient. What more do you want? Singapore government is No. 1.
Horror story. Recently agent was inspecting an old old property I rented. She came and said the toilet needs to be replaced. It was never used it was sqwat toilet in the wet kitchen. It was more than 40 years old. But I was told I had to pay for its replacement. A screw was loose inside a kitchen drawer. Charged me 60$ to tighten every screw she found. 5 in total I think. They were trying to get me to pay for a full renovation I think. And when I demanded 3 quotations for the work needed to be done I was told that's impossible. So I said I've lived I Asia for 20 years. You should know as well as I do. Nothing is declared honest until 3 quotations are presented. Then silence for a few days. But in the end they got 4k or so from miscellaneous rubbish claims. Hate the way they just saw an opportunity to be dishonest. I saw my old neighbours that evening. They were so pissed off with the agent. He said these kinds of people make the honest and proud Singaporeans ashamed.
the number of horrible greedy landlords totally out number the good ones.
dont ask them to give you quotation, sounds like you are ready to pay which they see as chance to rip you off. Cant you bring this matter to hdb board or something? what if you dont pay them these silly fees
The youth is more driven in Asia because it's cut throat, competition starting from schooling and the result of not getting in the right universities will have an impact on your life
Roti plata❤❤❤
It's PRATA not Plata. No wonder you got wrong translation
Switzerland of Asia, quite funny. We used to aspire to achieve swiss stds. SG is not as well known in the West. I visited Switzerland 20yrs ago, I stayed in a five stars hotel, for breakfast the hotel guests need to warm up their hard boiled eggs, culture shock! Here hotel will cook the eggs for u. Strange, this guy works for property portal ?
Doing business in Singapore sounds like hell. I'm a professional and going to do a training for a Singaporean company called Scoot. The way they treat me so far is terrible. They won't pay for anything or advise anything.
yes, those awful agents with all their fake listings.
I moved to SG in 2006. I had plenty of money. My problem was, no one would rent to me without some sort of permanent work visa. I spent a month and a ton of money living in hotels while looking for work. I did con one agent into renting to me but after 1 month she started asking for my visa. By then (2 months) I was already convinced the place is not for me and had already purchased my flight back to Hong Kong. Singapore is veneer of smile, but under the surface theres a lot of animosity among the races. Muslims are treated as 2nd class citizens. As one Muslim man, a manager at a Starbucks told me, "we are here just to hold the balls of the Chinese".
Better they hold the balls of chinese or end up like their fellow palestinian brothers now then?
A 50 year old 3-room flat in Toa Payoh already 3k for whole unit.......your 1k cannot even get one single room.
just one room okay la still doable, not one room apt tho
The advertisers who insist on a deposit before viewing are NOT agents.
And the asking rentals are way below market rates. So they are obviously scams. Only very gullible persons would trust them
L12 watching & shared ❤❤❤❤
Anyone interested in renting a room can let me know.
I got two rooms for rents. Five room flat point block,
near east coast, next to Joo Chiat unblock view and
windy six floor near market and Haig Road hawker
center and Paya Lebar MRT. Once HDB grant approval
will start renting. Only one person staying there at present.
I just went for an interview in the east area so let me see if I can secure my job asap & whether I need to move nearer to office or not😊
Our Pofma is not meant for commercial fake listing.... 🤣if it is? most properly the server might just crashed. 😂
First time seeing a swiss immigrant
You miss the real difference. Wages in Asia for even professionals are low compared to the West. Asians generally dont get bonuses or stock options, and relative compensation is low. In other words they are not rewarded for their work. Therefore they seek wealth through entrepreneurship which is really their only choice. There is simply no incentive to make the boss richer than he already is. And employment practices in Asia are downright draconian. They demand a photo on your CV, and can selectively discriminate on pretty much anything they want. Age, sex, marriage status, children, anything.
I know he said rents are coming off but my rent just increased lmao.
You are in Singapore dear, welcome to the island 😅😊
report fake listing to ceca, the agent will be dealted with, they are not suppose to do that.
Wow asia is,the best singapore is very modern country.omgg i like singapore
Ohhh 2 room hdb for 1k ? Can I have the agent contact number? Is really needed in rush.
Wait long long, you are lucky even to get a unit 1.5K. 😂
He said one ba, so not doubts just get contact 😂
landlord in Singapore love to take advantage. They try their best to keep the deposit. Very bad
Asians usually don’t like to show off. I don’t think you can generalize every country.
15:22
Europe no show off wealth??? Are you sure?? Have you heard of this place name Monaco???
Fake agents and listings in a law abiding Singapore ? strange
the europe wealth are all inside UBS. the old wealth also control politics.
whats ubs
UBS bank in switzerland
@@osirusj275
Please lah, this ang moh probably haven't even been to woodlands, jurong, ubi, tampines west - but good promo on your app
$0 is like bs to me
Don’t take it so literally. He just meant he didn’t hv the deposit money. 😅
"lump it up with 🇨🇳 " .,,, sigh !
People are not showing their wealth in Europe because of safety, don't wanna get robbed at night. That's not an issue in SG.
Europe consists of Switzerland, Norway, Netherlands, Greece, etc .
Most countries in Europe, there are cities and suburbs and country side. If u say Europe is unsafe - it is very silly & ignorant statement, I can assume that u have not stepped out of Singapore.
No, that’s not the reason for sure
@@ln6593 That's funny, I'm European and Europe is definitely less safe than Singapore
@@RedgeNumber1 Ok so u feel unsafe in European cities like Alicante, Molde, Leiden, Interlaken, Villach, Szeged, Olomouc, etc
@@ln6593 The first example you bring up is Alicante (Spain). Only a fool would show any wealth there, especially in the coastal cities that are filled with gangs. Ask any local and they would strongly advice against wearing a luxury watch for example, you don't want to make yourself a target. And yes, I've lived several years in Spain, I know what I'm talking about.
SG has a lot and the worst and greediest landlords that are protected by the government, those ppl are the worst representatives of the country.
Is just sweeping statement Ask anyone with tenant issue n landlord will tell U 2 months deposit might be too low
@@whywhy4211 ask anyone with greedy landlords would say 1 month deposit is too much, everything is relative right? So the best we can do is to be reasonable, respectful , both tenants and landlords, the fact that many landlords are simply taking advantages of their tenants is plain truth and they did that all bc of greediness!
He is the cutest and hottest guest of yours!!!! yummm :p hahaha
Singapore is no China 😅
not sure ima singaporen but i hate showing off. attract rubbish attention. fake friends and all.
lol bro hasn’t met any old money Asians lol
I am South Asian Tamil(one of the language spoken in Singapore thanks to Tamils like S.Rajarathnam - one of the founding father of Singapore :) )
. I am relatively young and I exhibit modest behaviour. Money is new since I am a 3rd world immigrant who moved to London not to long ago.
I am well educated(degree in Theoretical Physics from Russell group university in London), own a nice house not too far from the national football stadium, earn decent and have enough money but if you run across me 10 times on the street you would think I am a tramp. My philosophy is never dress to impress people who act like baboon on the plans of African Savannah i.e. flash their red bum to show off. It is very distasteful. Btw I only reveal my relative comfort in this comment to just make a point that you don't have to be old money Asian to be humble.
Crazy rich Asian is not "asian" culture..
supporting rently. scum landlords need to be stopped.
This was the most boring interview. Nothing else but just about rental, renting houses. We wanted to hear much more what expat had to say after 10 years here. Nothing wrong of eating prata breakfast because this is local. If you want Swiss breakfast ... go home back to Switzerland