SINGAPORE: More international students are coming to Singapore to study, and they are finding it harder to secure affordable housing.
Managing partner at SagePaths Global Education Lester Jiang said he has seen a 20 to 25 per cent rise in the number of overseas students compared to last year. His firm acts as a bridge between these students from China and Southeast Asia, and education institutions here.
One of the challenges they currently face is housing as supply is limited and rental prices have gone up, he said.
Mr Dennis Nah, owner of DS Homestay, which matches students with home owners letting out their units, said that renters have to pay 20 to 40 per cent more now compared to May this year.
“Most of the units are being rented. So when our landlord increases the rental, we can only pass these costs on to the students,” he said.
This comes as demand for rooms has increased by 20 to 30 per cent compared to last year amid limited supply, he said.
Among his clients, about 85 per cent are students from China, while the rest are from Southeast Asia, noted Mr Nah.
COMPETING WITH OTHER TYPES OF HOUSING
Ms Joice Yanto, group president of EVO House, which also handles international student accommodation, said that renting private homes has become too costly for many students.
For instance, a home in the River Valley area used to cost S$3,000 (US$2252) to S$3,800 a month, but can now command up to S$6,000, she told CNA.
EVO House, which also increased rental prices by 20 to 40 per cent, has seen a one-fifth drop in the number of clients, said Ms Yanto.
“Some of the students, they did not renew. They told us that … it’s because they found a cheaper alternative outside like (an) HDB (flat) or a student dormitory or co-living company,” she said.
Such cheaper alternatives can reduce the students’ rental cost to between S$1,200 to S$2,000, but offer a much smaller space, said Ms Yanto.
“We do feel the heat of the competition because the cost can be half of our costs because they don’t provide the common area like what we provide for our students,” she said.