Ridout Road Bungalows Rental Saga

[Karoon]

On 5/14/2023 at 6:16 PM, Tedlhw said:

One can easily see how much rental these places command.

a quick search on property guru reveals, a range of $1.70 to around $4+ $5 psf for rental. See link

https://www.propertyguru.com.sg/property-for-rent/p/ridout-road?

It should be at least $1.7 x  136000 = $231,000 per month? in the case of 31 Ridout, about SGD2.7m in rental a year at a minimum, potentiallly going up to 3 x that price?

24 Ridout seems bigger, assuming 50% of the lot shared between 24 and 31 Ridout as per newspaper article. 

https://www.todayonline.com/singapore/shanmugam-balakrishnan-bid-above-guide-rent-ridout-road-state-properties-sla-2170546?fbclid=IwAR3848lTigoJ8MihYOH4QTALttnZNgUMr_vgsVsmOmoioirJ5Ssg7n2TkoU  

Question is, how much did the ministers pay for the rental? I await the result. 

Wow... I was thinking the rental is at most 50k/mth... Didn't realise I was off by x5. So yes jeya may have a point then. Whether discounted or affordable this one the optics not good. 

[Dp26]

They can stay in mars also la, don’t care. 
 

as long as it’s aboveboard and they do their job properly 

 

if not, then they must be prepared for the questions for sure. 

[jcmm]

I dun understand, why bother to check and know or whatever.... they are given the "right" to do whatever they want and desire. I have not known till now, anyone can successfully challenge them....  so move on and think of your next meal.

[Mkl22]

On 5/14/2023 at 2:49 PM, RadX said:

I dun disagree with you. How many would look at what u said and research this fact

 

the idea here is they(oppo) want to use this to sensationalize and strike at when the atmosphere is apt! Being high prices etc 

Quite normal la. Politics sure got mud slinging. Just throw and see what sticks. The incumbent does it all the time. 

[BanCoe]

On 5/14/2023 at 3:09 PM, Volvobrick said:

poor ministers - where are they going to move to? 

1st BTO Kenna reject lah ….. so sad 🤣🤣…… Kenna live in rental 

[Volvobrick]

On 5/14/2023 at 9:47 PM, Mkl22 said:

Quite normal la. Politics sure got mud slinging. Just throw and see what sticks. The incumbent does it all the time. 

The size of the properties involved, use Roman catapult to throw also won't reach the main house.... 

[Mkl22]

On 5/14/2023 at 10:10 PM, Volvobrick said:

The size of the properties involved, use Roman catapult to throw also won't reach the main house.... 

 Use a trebuchet for better range. 

Edited May 14, 2023 by Mkl22

[Windwaver]

On 5/13/2023 at 3:30 PM, Jellandross said:

Not your average peasant bungalows. Exclusively for elites who want to experience the lifestyle of our old colonial masters 🇬🇧

 

Really resembles the old kampung which I stayed as a kid 

[Victor68]

On 5/13/2023 at 4:14 PM, 13177 said:

Likely nothing need to explain and just move on la.

There are bunch of civil servants now working hard to close all possible loopholes before they come us with a perfect answer. Everything is above board, legitimate rental since nobody else would want to rent it. They are doing us a favour. 😂

[Victor68]

On 5/14/2023 at 6:16 PM, Tedlhw said:

One can easily see how much rental these places command.

a quick search on property guru reveals, a range of $1.70 to around $4+ $5 psf for rental. See link

https://www.propertyguru.com.sg/property-for-rent/p/ridout-road?

It should be at least $1.7 x  136000 = $231,000 per month? in the case of 31 Ridout, about SGD2.7m in rental a year at a minimum, potentiallly going up to 3 x that price?

24 Ridout seems bigger, assuming 50% of the lot shared between 24 and 31 Ridout as per newspaper article. 

https://www.todayonline.com/singapore/shanmugam-balakrishnan-bid-above-guide-rent-ridout-road-state-properties-sla-2170546?fbclid=IwAR3848lTigoJ8MihYOH4QTALttnZNgUMr_vgsVsmOmoioirJ5Ssg7n2TkoU  

Question is, how much did the ministers pay for the rental? I await the result. 

Good to also disclose to public how much was spent before renting out to the ministers and todate, how much was spent maintaining them as compared to other similar bangalow. 

Edited May 15, 2023 by Victor68

[BanCoe]

https://www.businesstimes.com.sg/singapore/shanmugam-vivian-rented-ridout-road-properties-full-compliance-procedures-sla
 

 

[mersaylee]

On 5/15/2023 at 8:01 AM, BanCoe said:

 

Full means fool lor...i mean full means full hor...😁

Edited May 15, 2023 by mersaylee

[Volvobrick]

On 5/15/2023 at 8:01 AM, BanCoe said:

https://www.businesstimes.com.sg/singapore/shanmugam-vivian-rented-ridout-road-properties-full-compliance-procedures-sla
 

 

Very simple to shut off any question/accusation one lah - just list max, min and median rents for B and W per sqf land and what the good ministers are paying now. And how much spent on reno/maintenance.

 

Unless the numbers look bad. And elections is coming. 

 

PS l think quite worth to rent B and W, considering the land size. But maybe need to have kang tao to know when good renovated ones are available. 

Edited May 15, 2023 by Volvobrick

[Kopites]

On 5/14/2023 at 9:56 PM, BanCoe said:

1st BTO Kenna reject lah ….. so sad 🤣🤣…… Kenna live in rental 

Income ceiling brother. 

[Kopites]

On 5/14/2023 at 10:58 PM, Windwaver said:

Really resembles the old kampung which I stayed as a kid 

This Rideout free for everyone. 😁

[Tkseah]

On 5/15/2023 at 8:46 AM, Chris788 said:

Means in full compliance and they can afford to pay the rent.

But I wonder how much is the rent per month? Assuming at least $50K/mth, considering the size of the property.

I believe they should have owned other properties collecting rent, which should supplement the rental and they get to enjoy best of both worlds.

No anomalies. Sagat ended uneventfully, case closed.

收工，收工，没戏看了。😂

.

.

.

 

For the size, rent should be at least $250k/mth.. I await to see the actual rental figure..

Edited May 15, 2023 by Tkseah

[Throttle2]

On 5/14/2023 at 6:16 PM, Tedlhw said:

One can easily see how much rental these places command.

a quick search on property guru reveals, a range of $1.70 to around $4+ $5 psf for rental. See link

https://www.propertyguru.com.sg/property-for-rent/p/ridout-road?

It should be at least $1.7 x  136000 = $231,000 per month? in the case of 31 Ridout, about SGD2.7m in rental a year at a minimum, potentiallly going up to 3 x that price?

24 Ridout seems bigger, assuming 50% of the lot shared between 24 and 31 Ridout as per newspaper article. 

https://www.todayonline.com/singapore/shanmugam-balakrishnan-bid-above-guide-rent-ridout-road-state-properties-sla-2170546?fbclid=IwAR3848lTigoJ8MihYOH4QTALttnZNgUMr_vgsVsmOmoioirJ5Ssg7n2TkoU  

Question is, how much did the ministers pay for the rental? I await the result. 

Definitely can’t compare to market rate

They probably pay 10 time less for these.  Recently a friend was bidding for one.   Much smaller in land size but the house size should be very similar.  In the end, was done at $19k per mth.  

[JanM]

On 5/14/2023 at 4:52 PM, Scion said:

 

he has a point in comparing the sizes but not everywhere should be replaced by HDB flats

then what about heritage shophouses? in fact URA had demolished many more shophouses back in the 80s, or we could have more vibrant streets filled with rows of shophouses today

anyway if everywhere in Singapore are filled with HDB flats means that the population will have to be 10m or above liao, that's also not what we want right 😒

in sinkieland, everything boils down to money.  how much annual return would these b&w lands have fetched assuming that they have been developed at the same density as hdb towns?  that should be the guide price for their annual rental.  If there are no takers at this price, it means that the resource is not being used in the most productive way.  of course there will be those who say that we are destroying cultural heritage etc but the majority of us who are paying high psf price for our flats feel otherwise.  alternatively, should open up these b&w areas as public parks instead of renting out at price which does not make economic sense to the country.