An Overview of the Singapore Property Market For Expats5955432
Region wise, Singapore is not extremely large in size. Therefore, available land is exploited to its possible and the only way to improve accommodation is to build 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 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 various options and various facilities. The most expensive becoming the prime location of Central Region 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 provides views of the Sea and is recognized to be extremely popular amongst expatriates because 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. Because the rental rates differ from place to location. The much more closer the property to the Central Business District the rates are bound to be more expensive.
Locations such as Newton, Orchard and River Valley that are situated about the central can price more thousand dollars as compared to locations away from central areas. 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 significant factor whilst selecting a property location. Singapore is stated to have one of the most well-planned and modernized transportation system. Transport systems consist of: Mass Fast Transport (MRT), Taxis, Private Cars, Buses.
