An Overview of the Singapore Property Market For Expats206456
Region sensible, Singapore is not extremely large in size. Hence, available land is exploited to its potential and the only way to improve 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 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 provide various options and different facilities. The most expensive becoming the prime location of Central Area located 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 situated near the Central Business District (CBD) near the Changi Airport. It also provides views of the Sea and is recognized to be extremely popular among expatriates because it offers many leisure activities, eateries and many much more.
As soon as the property place is finalized, one needs to finalize the properties in the location that suit the budget of the Expat. Since the rental rates differ from place to location. The much more closer the property to the Central Business District the prices are bound to be much more expensive.
Areas such as Newton, Orchard and River Valley that are situated about the central can price more thousand dollars as compared to areas 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 major factor whilst choosing a property location. Singapore is stated to have one of the most nicely-planned and modernized transportation system. Transport systems consist of: Mass Rapid Transport (MRT), Taxis, Private Cars, Buses.