An Overview of the Singapore Property Market For Expats3359358
Area sensible, Singapore is not very large in size. Hence, accessible land is exploited to its possible and the only way to increase 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 essential for an expat is to find the property location 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 costly being the prime location 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 offers views of the Sea and is recognized to be extremely 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 location that suit the budget of the Expat. Since the rental prices differ from place to place. The much more closer the property to the Central Business District the rates are bound to be much more costly.
Areas such as Newton, Orchard and River Valley that are situated about the central can cost much 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 major aspect whilst selecting a property location. Singapore is said to have one of the most well-planned and modernized transportation system. Transport systems consist of: Mass Fast Transport (MRT), Taxis, Private Cars, Buses.
