An Overview of the Singapore Property Market For Expats7452048
Area wise, Singapore is not very large in size. Hence, available land is exploited to its possible and the only way to improve accommodation is to develop skyscrapers i.e. Grow vertically! More than 80 percent of Singaporeans live apartments owned by them and maintained by the Housing and Development Board of Singapore.
Therefore, landlords make most of their money by leasing property in prime places to expatriates.The most important for an expat is to find the property location that is most suitable to him/her, in terms of accessibility to workplace and transport. Singapore is divided in 27 districts. All this districts provide different options and various facilities. The most costly being 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 situated close to the Central Business District (CBD) close to the Changi Airport. It also provides views of the Sea and is known to be very well-liked among expatriates because it provides many leisure activities, eateries and many more.
As soon as the property place 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 more closer the property to the Central Business District the prices are bound to be more expensive.
Areas such as Newton, Orchard and River Valley that are located about the central can cost much more thousand dollars as compared to areas 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 being 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 Rapid Transport (MRT), Taxis, Private Cars, Buses.
