Fair and perceived fair value differs. The perceived fair value will also differ between individuals.
In renovating your unit as compared to others, you are differentiating yourself over your competitors therefore prospects are likely to choose your unit over your competitors if pricing wasn't a factor.
By setting a higher price over your competitors, you are indirectly providing objections to prospective tenants as tenants will start asking if they really need the place renovated and pay the premium or can they settle for a plain jane where they can save a couple hundred dollars each month and send these money back home if they are expatriates working in Singapore.
If you believe in what I can say based on my rental track records, anything $200 above the recent transactions will likely hold you back in securing the tenants by 1 month upwards. Worse case scenario will be further movement downwards in rental price trend.
Tenants can visit http://bit.ly/SGExpatRental (Official Rental Requirements - Singapore Expatriates) to indicate your rental requirements.
Claim your free home report today at http://bit.ly/ClaimFreeReport.
Visit and Like my facebook page at https://www.facebook.com/propertyblogshop/
Room Rental @ https://www.facebook.com/SGRentARoom/
New Singapore Expatriates on facebook is up and running. Come join us at https://www.facebook.com/groups/newsgexpats/
My self introductory video on https://youtu.be/6UfrCOCB6Mg
Regards,
Geryl LIM
Associate Marketing Director
Global Alliance Property (L3010679B) - Century 21
CEA Reg R014783H
Mobile:
+65-81577565
/+65-92787772
Email: geryl7772@gmail.com
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