_:nd6777397d2d7432a81ccc2f28c37ba37xb23
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"\nThat's basic economics and market forces. Unfortunately in Singapore, with such a small housing market and land scarcity, a small decrease in the number of houses (like those that went enbloc) and a slight increase in the number of people in the city can tip the balance for a short period causing this latest bubble. Right now, i think the biggest contributor to the crazy rentals is collusion by the property agents, which is basically price fixing. \n\nIf you've heard of Varsity park, asking rental is around 4.5k for a 2 bedroomed unit with no agent quoting less, however if you look at the condo while driving past, you will see around 80% of it empty with for rent signs decorating a lot of the balconies."
<https://forum.singaporeexpats.com/viewtopic.php?t=51468&start=45>