An Overview of the Singapore Property Market For Expats8843433
Area 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 build 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 locations to expatriates.The most important for an expat is to find the property place 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 becoming the prime place 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) near the Changi Airport. It also provides views of the Sea and is recognized to be extremely well-liked amongst expatriates since it provides many leisure activities, eateries and many much more.
Once the property location is finalized, one needs to finalize the properties in the location that suit the spending budget of the Expat. Because the rental prices differ from location to location. The more closer the property to the Central Business District the rates are bound to be more expensive.
Areas such as Newton, Orchard and River Valley that are situated about the central can cost 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 being a significant aspect whilst selecting a property place. Singapore is said to have one of the most well-planned and modernized transportation system. Transport systems consist of: Mass Fast Transport (MRT), Taxis, Private Cars, Buses.
