An Overview of the Singapore Property Market For Expats1113284
Region wise, Singapore is not very large in size. Hence, available land is exploited to its potential and the only way to improve accommodation is to build skyscrapers i.e. Grow vertically! Much 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 appropriate 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 costly being the prime place of Central Area situated 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 near the Central Business District (CBD) near the Changi Airport. It also provides views of the Sea and is recognized to be very popular amongst expatriates because 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 budget of the Expat. Since the rental prices differ from location to place. The much more closer the property to the Central Business District the prices are bound to be much more expensive.
Locations 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 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 major aspect whilst choosing a property location. Singapore is stated to have one of the most nicely-planned and modernized transportation system. Transport systems include: Mass Fast Transport (MRT), Taxis, Private Cars, Buses.
