An Overview of the Singapore Property Market For Expats3526163
Area wise, Singapore is not very large in size. Hence, available land is exploited to its possible and the only way to improve accommodation is to develop skyscrapers i.e. Develop 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 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 offer different options and different facilities. The most expensive being the prime location of Central Region located 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 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 because it offers many leisure activities, eateries and many more.
As soon as the property place is finalized, one needs to finalize the properties in the place that suit the spending 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 costly.
Areas such as Newton, Orchard and River Valley that are situated 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 becoming a significant aspect while selecting a property location. Singapore is said to have one of the most nicely-planned and modernized transportation system. Transport systems consist of: Mass Fast Transport (MRT), Taxis, Private Cars, Buses.
