An Overview of the Singapore Property Market For Expats2272427
Area wise, Singapore is not extremely large in size. Hence, accessible land is exploited to its potential and the only way to increase 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.
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 being the prime location of Central Region 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 situated near the Central Business District (CBD) near the Changi Airport. It also provides views of the Sea and is recognized to be very well-liked among expatriates since 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 place that suit the budget of the Expat. Since the rental rates differ from place to place. The more closer the property to the Central Business District the prices are bound to be much more expensive.
Locations such as Newton, Orchard and River Valley that are located around the central can price 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 becoming a significant factor while choosing a property place. Singapore is stated to have one of the most nicely-planned and modernized transportation system. Transport systems include: Mass Rapid Transport (MRT), Taxis, Private Cars, Buses.