An Overview of the Singapore Property Market For Expats2767813
Area wise, Singapore is not very large in size. Therefore, available land is exploited to its potential and the only way to increase 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 locations to expatriates.The most essential 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 becoming the prime location of Central Region 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 situated near the Central Business District (CBD) close to the Changi Airport. It also provides 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.
As soon as the property location 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 much 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 located around the central can price much more thousand dollars as compared to areas 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 being a significant aspect whilst 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.
