Soon after viewing numerous homes, the couple fell in like with their present household.
The 6,000-square-foot bungalow is situated halfway up Mount Faber, a large hill about 10 minutes from Singapore’s Central Organization District (CBD).
“We felt we experienced the best of the two worlds below. It really is so shut to the CBD — it can be 10 minutes down the street. But we are also in close proximity to Mount Faber Park, near all this greenery,” Hay reported.
Individuals intrigued in residing in a black-and-white bungalow should submit a bid to the SLA. This sum, if acknowledged, will become their regular monthly hire. Luckily for Hay and her husband, they were the only types fascinated in the property and finished up winning the bid. She declined to share how a great deal they pay back in rent.
Not everyone is as lucky as Hay: The bidding procedure depends on marketplace demand. Hay stated properties in prime locations are occasionally only accessible by means of sealed bids in which bidders will not know how a great deal others are offering.
“It can be a little bit tough,” she said. “I’ve experienced close friends who bid pretty superior because they really required the household, but then they observed out that the other bid was, say, $4,000 below them. But they still have to pay back the cost they bid for each month.”
While the sum fluctuates based on demand, regular hire for a black-and-white bungalow can arrive at as higher as $20,000 Singapore dollars ($14,300), Lester Chen, a home agent with Singapore Realtors Inc, advised Insider.
The SLA did not provide pricing specifics for black-and-white bungalows but said costs are pegged to the rental sector and change according to measurement and spot.