An Overview of the Singapore Property Market For Expats9303321
Area wise, Singapore is not extremely large in size. Hence, available land is exploited to its potential and the only way to increase accommodation is to build 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.
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 place 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 various options and different facilities. The most expensive becoming the prime place 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 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 among expatriates because it provides many leisure activities, eateries and many more.
Once the property location is finalized, one needs to finalize the properties in the location that suit the spending budget of the Expat. Since the rental prices differ from place to place. The more closer the property to the Central Business District the rates are bound to be much more costly.
Locations such as Newton, Orchard and River Valley that are located about the central can cost more thousand dollars as compared to locations away from central areas. 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 choosing a property location. Singapore is stated to have one of the most well-planned and modernized transportation system. Transport systems include: Mass Fast Transport (MRT), Taxis, Private Cars, Buses.
