Everything You Need to Know About Renting in Singapore
Singapore Condo Rental vs Serviced Apartment vs HDB Rental—Which is Better?
It all depends on what you need. There are a wide range of reasons why people need temporary housing. You could be renovating your home and need a temporary place to stay as the work’s being done. Or you could be a business traveler or a digital nomad that’s stationed in Singapore for a longer period of time. Singapore condo rentals, serviced apartments, and HDB flats can be fully-furnished quality accommodation. But each of them do come with their set of pros and cons.
1. Rental Regulations in Singapore – A Quick Guide
Before you go apartment hunting, it’s best to get familiar with the legalities governing apartment rentals in Singapore.
Let’s start with short-term accommodation: platforms like Airbnb are illegal in Singapore. Residential properties in Singapore cannot be rented out for short-term stays, even if it’s only one night. The minimum rental period for rentals is usually three months, though the licence may vary between the different residential properties. So if you’re one of the many business travelers that are only transiting through Singapore for a few days, you’re still considered a ‘tourist’. You can only book a short-term stay at Singapore serviced apartments, hotels, or hostels.
For long term accommodations and extended stays, you need to be a Singapore Citizen, Permanent Resident, or Long-Term Resident. So you have to be someone with an Employment Pass, Work Permit, Student Pass, Dependent Pass, and a Long-Term Social Visit Pass.
Phew! Now that that’s out of the way, here’s what you need to know about renting in Singapore.
2. Singapore HDB Flat Rentals
Getting an HDB whole unit for rent in Singapore is one of the more affordable options of the three. HDB flats are housing built by the Housing Development Board, the government statutory board responsible for public housing. Most of the time, the regular apartments for HDB flats are more spacious. But if you still need extra space, you can rent the entire apartment. However, most HDB flats are built for nuclear families in mind, so it might be a bit more difficult to find a studio apartment.
With Singapore’s uber-convenient public transport system, you can easily find an HDB flat that can still provide an easy commute to your workplace. HDB flats in Singapore don’t have in-house amenities, so to speak. But you can still find facilities such as basketball courts or badminton courts in the housing estate. Most neighbourhoods have public pools and gyms to boot.
You can do away with additional costs from housekeeping services if you rent an HDB flat for your family. And since they have no frills, you can rent an apartment at a more competitive rate. The Market Rental Rates for HDB flats are publicly available too, so you can easily find the best market rent price for your long-term apartment rentals.
One thing to note—most landlords and property owners prefer long term leases. Most lease terms go for one to two years, though you can find leases that go for six months too. And don’t forget to take note of the Eligibility Conditions and Guidelines for HDB rentals.
3. Singapore Condo Rental
Singapore condo rentals are another popular option, especially for business travellers moving their families abroad. Most condominiums in Singapore tout a better quality of life with their wide range of facilities within the compound. The more upscale developments would even boast tennis courts, an all-in-one fitness centre and steam rooms. Not to mention, the fully-furnished apartments tend to have more comfortable furnishings, especially when you’re renting a unit at a newer development.
There is a wide range of accommodation options available for condo rentals in Singapore too. You can find anything from one-bedroom apartments to a full-on penthouse. Though a studio for rent in Singapore tends to be smaller, there are plenty of ways to find extra space.
And just like HDB Flat Rentals, leases tend to last around six months to two years as well. So it’s perfect if you’re staying put for a longer period. If your employer is generous enough to help cover the rental costs, there are platforms for corporate housing options that rent out condos too. One of those examples is, of course, MetroResidences.
4. Singapore Serviced Apartments
If you’re looking for an accommodation with contract flexibility, serviced apartments are likely the best option. Serviced apartments are perfect for flexible stays, because you can easily switch from a short stay to a long-term stay by dealing with the same company leasing out the property.
And don’t underestimate these kinds of accommodation options. Most Singapore serviced apartments nowadays have fully furnished working spaces and living spaces, along with a fully-equipped kitchen. Some even have hotel-like amenities available too. You can find plenty of developments with a swimming pool, laundry facilities, and more. And most platforms offer extra guest services at your convenience too.
Plus, most serviced apartments have strategic locations with hassle-free access to MRT stations. If you’re looking for something a little different, there are plenty of fully-furnished serviced apartments in eclectic locales such as Tiong Bahru and Blair Road too. So instead of witnessing its usual glitz and glamour, you can easily explore a different side to Singapore with these types of apartments. With all these well-rounded benefits, they’re perfect for weathering uncertainties too, such as the new COVID variants.
Looking for your next long term stay in Singapore? We’ve got you covered.
MetroResidences’ Singapore serviced apartments and residences are perfect for your next business trip. Our serviced apartments are conveniently located, with hassle-free access to public transport. It all comes fully furnished too, so you’ll be enjoying amenities like wi-fi, air-conditioners, and even fully-equipped kitchens.