An Overview of the Singapore Property Market For Expats6544076
Region sensible, Singapore is not extremely large in size. Hence, available land is exploited to its possible and the only way to increase 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 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 different facilities. The most expensive becoming 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 located close to the Central Business District (CBD) close to the Changi Airport. It also offers views of the Sea and is recognized to be very well-liked amongst expatriates since it offers many leisure activities, eateries and many much more.
Once the property place is finalized, one needs to finalize the properties in the place that suit the budget of the Expat. Since the rental prices differ from place to location. The more closer the property to the Central Business District the rates are bound to be more costly.
Locations such as Newton, Orchard and River Valley that are located around 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 becoming a significant factor while choosing a property location. 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.
