An Overview of the Singapore Property Market For Expats7714229
Area wise, Singapore is not extremely large in size. Hence, available land is exploited to its possible and the only way to improve accommodation is to build skyscrapers i.e. Develop vertically! More than 80 percent of Singaporeans live apartments owned by them and maintained by the Housing and Development Board of Singapore.
Hence, landlords make most of their money by leasing property in prime places to expatriates.The most essential for an expat is to find the property place that is most appropriate to him/her, in terms of accessibility to workplace and transport. Singapore is divided in 27 districts. All this districts provide various options and different facilities. The most expensive becoming the prime place of Central Area located from District 1 to 9. Below is an Overview of the Singapore Property Market for Expats.
On the East Coast, Districts 14, 15, 16 are located near the Central Business District (CBD) near the Changi Airport. It also provides views of the Sea and is recognized to be very popular among expatriates because it offers many leisure activities, eateries and many much more.
Once the property location is finalized, one needs to finalize the properties in the place that suit the budget of the Expat. Because the rental prices differ from place to location. The much more closer the property to the Central Business District the prices are bound to be much more costly.
Locations such as Newton, Orchard and River Valley that are situated about the central can price more thousand dollars as compared to areas away from central locations. Prices also fluctuate according to the type of property like Bungalows, Terraced Houses, 3 to 4 bedrooms and 1 to 2 bedrooms.
Transportation also becoming a significant factor while choosing a property place. Singapore is stated to have one of the most nicely-planned and modernized transportation system. Transport systems include: Mass Fast Transport (MRT), Taxis, Private Cars, Buses.
