An Overview of the Singapore Property Market For Expats4624285
Area wise, Singapore is not extremely large in size. Therefore, accessible land is exploited to its possible and the only way to improve 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 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 offer different options and various facilities. The most costly becoming the prime location 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 located close to the Central Business District (CBD) near the Changi Airport. It also offers views of the Sea and is recognized to be extremely popular among expatriates because it offers many leisure activities, eateries and many more.
Once the property place is finalized, one needs to finalize the properties in the place that suit the spending 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 around the central can price 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 selecting a property place. Singapore is stated to have one of the most well-planned and modernized transportation system. Transport systems include: Mass Fast Transport (MRT), Taxis, Private Cars, Buses.
