Rental market ‘gone bananas’: Full impact of cooling measures yet to be seen, say analysts and agents

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In the past two years, the growing number of million-dollar HDB flats has caused some concern. This has left many people asking - has public housing become unaffordable? The Straits Times housing correspondent, Michelle Ng, finds out more.
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SINGAPORE - After combing through close to 100 rental unit listings, sales director Lim Wee King was confident he would be able to rent a house by increasing his monthly budget from $3,000 to $3,800.

But he was outbid by another potential tenant who, on top of matching the $3,800 rent, also offered to install brand new air-conditioning units in the rental unit at his own expense.

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