Real Estate in Singapore
Last updated on Jun 11, 2023
Summary: An expat searching for a home to buy in Singapore should begin by researching the different neighborhoods and districts in the city. They should also consider their budget and the type of property they are looking for. Once they have narrowed down their search, they can contact a real estate agent to help them find a suitable property. Homes in Singapore typically include amenities such as air conditioning, a kitchen, and a balcony. Some homes may also include a swimming pool, a garden, or a gym. Foreigners are allowed to purchase properties in Singapore, but there are certain restrictions. For example, foreigners are not allowed to purchase HDB flats, which are public housing units. Additionally, foreigners must obtain approval from the Singapore Land Authority before they can purchase a property.
How do I find a place to live in Singapore?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"One of the best ways to find a place to live in Singapore is to use online resources such as property portals, classifieds websites, and real estate agents. Property portals such as PropertyGuru, 99.co, and SRX Property provide comprehensive listings of available properties in Singapore. Classifieds websites such as Gumtree and Craigslist also offer listings of available properties. Additionally, real estate agents can provide assistance in finding a suitable property. They can provide advice on the best areas to live in, the types of properties available, and the rental rates," said one expat in Singapore.
"I selected my house on its proximity by the sea. I called a property agent; he turned out to be a great help in getting me the unit I'd set my eyes on," remarked one member in Singapore.
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What is a typical expat home or apartment like in Singapore?
"I stay in a condo. Yes, most expats prefer a condo, although some live in landed properties. It should be said that nowadays more and more expats stay in HDB flats too," said one person in Singapore.
"Expat homes and apartments in Singapore tend to be modern and luxurious, with high-end appliances and furnishings. Many expats choose to live in condominiums, which offer amenities such as swimming pools, gyms, and playgrounds. Expat apartments often come with balconies, allowing residents to enjoy the city's skyline and tropical climate. Expats also have access to a wide range of international restaurants, shopping malls, and entertainment venues," remarked one foreigner who made the move to Singapore.
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What is the average cost of housing in Singapore?
If you are thinking about moving to Singapore, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The cost of housing in Singapore is generally quite high, with the average cost of a home in the city-state being significantly higher than in many other countries. The cost of renting a home in Singapore is also quite expensive, with the average monthly rent for a two-bedroom apartment in the city-state being among the highest in the world," remarked one foreigner who made the move to Singapore.
"Housing costs tend to be higher here than in Holland. Average cost of housing in Singapore is hard to say, but generally you won't find anything decent below S$1500,-," explained one person living in Singapore, Singapore.
Should I buy or rent a home in Singapore?
If you have not spent a lot of time in Singapore, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"Buying a home in Singapore can be a great investment, as property prices have been steadily increasing over the years. However, it is important to consider your financial situation and lifestyle before making a decision. Renting a home in Singapore can be a more affordable option, as it allows you to save money for other investments or expenses. It also gives you the flexibility to move to a different location if needed. Ultimately, the decision to buy or rent a home in Singapore should be based on your individual needs and preferences," explained one expat living in Singapore.
What do I need to know when buying property in Singapore?
When we asked expats what advice they would give a foreigner before buying a property in Singapore, they said:
"1. It is important to research the area you are looking to buy in, as well as the property itself, to ensure it meets your needs. 2. You should also consider the cost of living in the area, as well as the potential for capital appreciation. 3. It is important to understand the legal process of buying property in Singapore, including the various taxes and fees associated with the purchase. 4. You should also be aware of the different types of property available, such as HDB flats, private condominiums, and landed properties. 5. It is also important to consider the financing options available, such as bank loans, CPF funds, and other forms of financing. 6. Lastly, it is important to engage a qualified real estate agent to help you navigate the process of buying property in Singapore," explained one foreigner living in Singapore.
Are foreigners allowed to own property in Singapore?
When we asked expats what advice they would give a foreigner before buying a property in Singapore, they said...
"Yes, foreigners are allowed to own property in Singapore. However, they are subject to certain restrictions. Foreigners are only allowed to purchase certain types of properties, such as condominiums, landed properties, and certain types of commercial properties. Additionally, they are subject to certain restrictions on the amount of land they can purchase, as well as the amount of time they can own the property. Furthermore, they are required to pay additional taxes and fees when purchasing property in Singapore," explained one person living in Singapore.
What appliances are typically included in a rental?
We asked foreigners in Singapore what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:
"Rental properties in Singapore typically include a refrigerator, washing machine, oven, and stove. Depending on the property, air conditioning units may also be included. Additionally, some properties may include a dishwasher and/or a microwave," said one in Singapore.
Additional Information about Searching for a Home in Singapore:
We asked foreigners in Singapore what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...
"Expats in Singapore typically search for homes by using online real estate portals, such as PropertyGuru, 99.co, and SRX Property. They can also use online classifieds, such as Gumtree and Craigslist, to find rental listings. Additionally, expats can contact real estate agents to help them find a suitable home," wrote one expat who made the move to Singapore.
About the Author
Betsy Burlingame is the Founder and President of Expat Exchange and is one of the Founders of Digital Nomad Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.
Additional Information:
- Singapore Guide
- Healthcare & Health Insurance in Singapore
- Members Talk about Healthcare & Health Insurance in Singapore
- Best Places to Live in Singapore
- Guide to Real Estate in Singapore
- Pros & Cons of Living in Singapore
- Cost of Living in Singapore
- Pros and Cons of Living in Singapore
- Zika Virus in Singapore
- How to Rent a Home in Singapore
- Enrolling in the Public Healthcare System in Singapore
- 2024 Guide to Living in Singapore
- Pros and Cons of Living in Singapore 2024