Singapore is an incredibly influential location. It has everything from exciting nightlife to top businesses and the housing market is equally as diverse. Finding the right home can put you right in the middle of a thriving and lively country. However, Singapore living can be expensive and there are also certain limitations that apply to buying property in Singapore. Here at Santa Fe Relocation Services, we are happy to provide you with all of the information that you need to get you closer to settling into your new life, if you’re considering moving to Singapore.
Types of property
There are many different types of housing in Singapore with the main options around the major urban areas being HDB flats, apartments and condominiums. Houses tend to be located in the more residential areas towards the outside of the capital.
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Which property is right for you?
Public housing that’s managed by the Housing and Development Board (HDB flats) houses over 80% of the current population. A HDB flat could be anything from a single room to a maisonette and these are generally located together in small town-like areas. Transport of almost every kind is easily accessible from these areas, with train and bus stations usually only a short walk away from the apartment blocks. These towns also have all of the amenities necessary to be self-sufficient, such as supermarkets, clinics, schools, restaurants and more.
Apartments and hostels also come in varying quality and sizes. They can range from small studios to up to three bedrooms. Almost all apartments offer basic facilities – such as dining and laundry areas – and serviced apartments might also offer cleaning and laundry services as well as social functions within the building.
Condominiums are large residential developments that offer more recreational facilities than apartments. They tend to be a lot bigger than apartments and may include special services and facilities such as gyms, swimming pools and spas. This means that a monthly maintenance fee is also included with the cost of rent and they tend to accommodate more luxurious lifestyles.
The quality of housing in Singapore is typically very good. Houses tend to be located in areas away from the city that may be less accessible, but they may include additional features like swimming pools and gardens. Areas that consist of houses tend to be a lot quieter and family centred.
Each different type of property offers different benefits in regards to locations and facilities, and each one is tailored to suit a different type of lifestyle. It’s important that you define what it is that you want out of your property before you start browsing.
Limitations and costs
There are certain limitations that apply to foreigners that want to buy private properties in Singapore. The Residential Property Act restricts foreign persons from owning residential property (such as semi-detached houses and bungalows), residential properties in buildings that consist of less than six floors and they’re restricted from purchasing vacant land. HDB flats are also somewhat restricted because there are certain requirements that decide whether or not you are eligible to rent one. Owning more than one property in Singapore is also restricted and reselling has certain limitations. Ultimately, Singaporeans are given certain privileges in regards to owning properties, but that doesn’t mean that it is impossible for an expat to move there. It is most common for expats to rent properties in Singapore, and with rentals there are plenty of opportunities available to find the perfect property.
Here at Santa Fe Relocation Services, we can help you realise which properties are right and available for you. Using our Home Search
services, you can narrow down your options and have a better idea of what your life in Singapore will be like.