An Overview of the Singapore Property Market For Expats9389985
Region wise, Singapore is not extremely large in size. Hence, accessible land is exploited to its possible and the only way to improve accommodation is to develop 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 locations to expatriates.The most important 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 offer different options and different facilities. The most costly being the prime place of Central Region 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 situated near the Central Business District (CBD) near the Changi Airport. It also offers views of the Sea and is recognized to be extremely well-liked amongst expatriates since it offers many leisure activities, eateries and many more.
Once the property location is finalized, one needs to finalize the properties in the location that suit the budget of the Expat. Since the rental rates 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.
Areas such as Newton, Orchard and River Valley that are located around the central can cost much more thousand dollars as compared to locations away from central areas. Prices also fluctuate according to the type of property like Bungalows, Terraced Houses, 3 to 4 bedrooms and 1 to 2 bedrooms.
Transportation also being a major aspect whilst choosing a property place. Singapore is said to have one of the most nicely-planned and modernized transportation system. Transport systems consist of: Mass Rapid Transport (MRT), Taxis, Private Cars, Buses.
