An Overview of the Singapore Property Market For Expats2700439
Area wise, Singapore is not very large in size. Therefore, accessible 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.
Hence, landlords make most of their money by leasing property in prime places to expatriates.The most essential for an expat is to find the property location that is most appropriate to him/her, in terms of accessibility to workplace and transport. Singapore is divided in 27 districts. All this districts offer various options and various 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 near the Central Business District (CBD) close to the Changi Airport. It also offers views of the Sea and is known to be very popular amongst expatriates because 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 spending budget of the Expat. Because the rental rates differ from location to place. The more closer the property to the Central Business District the prices are bound to be more costly.
Locations such as Newton, Orchard and River Valley that are situated about the central can price more thousand dollars as compared to areas away from central areas. Prices 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 aspect while selecting a property place. Singapore is said to have one of the most nicely-planned and modernized transportation system. Transport systems include: Mass Rapid Transport (MRT), Taxis, Private Cars, Buses.
