Real Estate in Holland Village
Last updated on Jan 16, 2024
Summary: People living in Holland Village, Singapore offer advice about real estate. How do you find a home in Holland Village? Should you buy or rent? What is the cost of housing?
How do I find a place to live in Holland Village?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"Finding a place to live in Holland Village involves several steps. First, you need to determine your budget. The cost of living in Holland Village can be quite high, so it's important to know what you can afford before you start looking. Next, decide on the type of accommodation you want. Holland Village offers a range of options, from high-rise condominiums to low-rise apartments and landed houses. Once you have a clear idea of what you're looking for, you can start your search. There are several online property portals that list available properties in Holland Village, such as PropertyGuru, 99.co, and SRX Property. These websites allow you to filter your search based on your preferences, such as the type of property, number of bedrooms, and price range. You can also engage a real estate agent to help you in your search. They can provide you with expert advice and access to properties that may not be listed online. When you find a property that you're interested in, arrange a viewing. This will give you a chance to inspect the property and the surrounding area. If you're satisfied with the property, you can make an offer. In Singapore, this usually involves paying a deposit and signing a Letter of Intent. Once your offer is accepted, you'll need to sign a Tenancy Agreement and pay the remaining deposit. The Tenancy Agreement will outline the terms and conditions of your lease, including the rental period and monthly rent. Finally, once all the paperwork is completed, you can move into your new home in Holland Village," remarked one foreigner who made the move to Holland Village.
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What is a typical expat home or apartment like in Holland Village?
"Holland Village in Singapore is a popular residential area for expats, known for its blend of local and international cultures. A typical expat home or apartment in this area is often a high-rise condominium, equipped with modern amenities such as a swimming pool, gym, and security services. These homes are usually spacious, with multiple bedrooms, a fully equipped kitchen, and a living room with a dining area. The apartments are often furnished with contemporary furniture and have large windows that allow plenty of natural light. Some homes may also feature a balcony or a small outdoor area. The interior design usually reflects a blend of Western and Asian influences, with a focus on comfort and functionality. The location of these homes is also a significant factor, as Holland Village is known for its accessibility and vibrant lifestyle. It's common for these homes to be within walking distance of shops, restaurants, cafes, and public transportation. Despite being in a bustling area, the residential spaces offer a sense of tranquility and privacy. In terms of services, it's common for these apartments to offer cleaning and maintenance services. Some may also offer additional features like a private parking space. Overall, a typical expat home in Holland Village, offers a comfortable, convenient, and cosmopolitan living experience," said one person in Holland Village.
What is the average cost of housing in Holland Village?
If you are thinking about moving to Holland Village, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The average cost of housing in Holland Village, can vary greatly depending on the type of property. For instance, a condominium unit in this area can cost an average of SGD 1.5 million to SGD 2 million. On the other hand, a landed property can cost significantly more, with prices often exceeding SGD 10 million. Rental prices also vary, with a one-bedroom apartment typically costing around SGD 2,500 to SGD 3,500 per month, while larger units can command monthly rents of SGD 7,000 or more. However, these prices can fluctuate based on factors such as the property's size, condition, and proximity to amenities," remarked one foreigner who made the move to Holland Village.
Should I buy or rent a home in Holland Village?
If you have not spent a lot of time in Holland Village, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"The decision to buy or rent a home in Holland Village, largely depends on your personal circumstances, financial situation, and long-term plans. If you are planning to stay in Singapore for a long period, buying a home could be a good investment. Owning a property in Holland Village, a popular and vibrant neighborhood, could potentially yield significant returns in the future. However, buying a home requires a substantial financial commitment. You would need to consider the upfront costs, such as the down payment, stamp duty, and legal fees, as well as ongoing costs like mortgage repayments, property taxes, and maintenance fees. If you are not ready for this financial commitment, or if you prefer to have more flexibility and mobility, renting might be a better option. Renting a home in Holland Village allows you to live in a desirable location without the hefty financial commitment of buying. It offers more flexibility, which is ideal if you are unsure about your long-term plans. You can easily move if your circumstances change, or if you decide you want to live in a different part of Singapore. However, renting also has its downsides. You won't build equity as you would if you were paying off a mortgage, and you'll be subject to the whims of your landlord and potential rent increases. In conclusion, the decision to buy or rent a home in Holland Village, Singapore, should be based on your financial situation, lifestyle preferences, and long-term plans. It's advisable to consult with a financial advisor or real estate professional to help you make the best decision," explained one person living in Holland Village, 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.