An Overview of the Singapore Property Market For Expats5972062
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. Develop 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 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 different facilities. The most expensive becoming the prime place of Central Area 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 close to the Central Business District (CBD) near the Changi Airport. It also offers views of the Sea and is known to be very well-liked among expatriates since it offers many leisure activities, eateries and many much more.
As soon as the property location is finalized, one needs to finalize the properties in the location that suit the spending budget of the Expat. Since the rental rates differ from place to place. 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 around the central can cost more thousand dollars as compared to locations away from central locations. 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 significant factor while choosing a property place. Singapore is said to have one of the most well-planned and modernized transportation system. Transport systems include: Mass Fast Transport (MRT), Taxis, Private Cars, Buses.
