Having a budget in mind will help you decide the type of property to rent, as well as its location. Ensure that your budget is flexible enough to prevent situations where you are unable to find a house that is both within your budget as well as in a specific location of your preference.
Condominium Rental Rates
Singapore's Urban Redevelopment Authority (URA) maintains an updated pricing list for all condominiums in Singapore. You can view the rates at this link
ESSEC Singapore Budget Survey
Every year, a survey is conducted among ESSEC students. In early 2022, the average rental paid by a student is $1276, not inclusive of Utilities and Wi-Fi. You can view the full survey results here.
Factors affecting Rent
Several factors come into play when it comes to rent, namely:
1. Location - areas near Central Business District, e.g. Marina Bay and Tiong Bahru fetch higher rental. Affluent residential estates like Bukit Timah and Holland Village also fetch higher rental. Read more here.
2. Property Type - Rooms in Housing Development Board (HDB) flats fetch the lowest rental, followed by condominiums, and landed properties (houses) which fetch the highest rental. Read more here.
3. Whether you are dealing with the landlord, agent or a full-service provider. If you deal with the landlord directly, you won't need to pay commission and have more negotiating power. If you deal with an agent, you will pay a commission but you have the option of viewing multiple properties managed by the agent. If you engage a full-service provider, they take care of everything and you pay a premium rent.
4. Whether utilities, Wi-Fi & cleaning services are included
5. Whether you are sharing your room with someone, which will halve the rent.
Property Price Matrix
The table below gives an estimate of monthly rental for 1 room (excluding utilities, Wi-Fi and cleaning) for different property types at several popular locations among ESSEC students. For monthly cost of living, please check out https://myarrivalatessecap.weebly.com/daily-living.html