An Overview of the Singapore Property Market For Expats1611571
Region wise, Singapore is not extremely large in size. Hence, available land is exploited to its potential and the only way to increase accommodation is to develop skyscrapers i.e. Develop vertically! Much 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 situated from District 1 to 9. Beneath 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) close to the Changi Airport. It also offers views of the Sea and is recognized to be extremely popular among expatriates since it provides many leisure activities, eateries and many much more.
As soon as the property location is finalized, one needs to finalize the properties in the place that suit the budget of the Expat. Since the rental rates differ from place to place. The much more closer the property to the Central Business District the rates are bound to be much more costly.
Locations such as Newton, Orchard and River Valley that are located around the central can price much more thousand dollars as compared to locations away from central locations. Rates 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 major factor while choosing a property place. Singapore is stated to have one of the most nicely-planned and modernized transportation system. Transport systems consist of: Mass Fast Transport (MRT), Taxis, Private Cars, Buses.
