Pinoy in Singapore

Since we’ve been here in Singapore last Jan 2007, the property sector has experienced a great boom.  The going rate for the same unit we are renting is now double what we are paying for currently.  What’s unfortunate is that the condo building is going for en-bloc sale and our landlord is one of those who are adamant about going through with the sale.  So even though our tenancy contract is valid up to Dec 2008, we might be forced to move out of our unit by March 2008. 

Our dilemma now is if we start looking for a new place, the rent would be double what we are currently paying for.  Another option for us is to move to a much smaller HDB unit (from a 3-bedroom condo now),  and still we’d be paying more than our current rent. 

The increase in property rent will significantly affect our cost of living here in Singapore and unfortunately salary doesn’t increase with the rent.   I have had people asking me to help their friends who are moving to Singapore find a good unit with a budget of $1000 and they don’t believe me when I say good luck finding it.  The only thing they’d probably find is a room for rent.

I wonder how other people cope with the increasing rent?