An Overview of the Singapore Property Market For Expats7668443
Region sensible, Singapore is not very large in size. Hence, available land is exploited to its potential and the only way to increase accommodation is to build skyscrapers i.e. Grow vertically! 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 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 expensive becoming 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) close to the Changi Airport. It also provides views of the Sea and is recognized to be extremely well-liked among expatriates because it offers many leisure activities, eateries and many 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 location to location. The more closer the property to the Central Business District the prices are bound to be more costly.
Areas such as Newton, Orchard and River Valley that are situated around the central can cost much more thousand dollars as compared to locations 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 being a significant aspect while choosing a property place. Singapore is stated to have one of the most well-planned and modernized transportation system. Transport systems consist of: Mass Rapid Transport (MRT), Taxis, Private Cars, Buses.
