You’re thinking of renting out your flat to earn the extra buck, but the rules are constantly changing and it might not occur to you that becoming a landlord without constantly updating yourself on the housing scene can cost you.
There are thousands of real estate agents and brokers and it has emerged as a very lucrative business over the years. But a newcomer to the city of Singapore, or even a local, unfamiliar with the business of renting or purchasing property may find it difficult to get started.
While word of mouth, recommendations by friends and colleagues is often the best way to get a good realtor, many websites also offer sincere advice and genuine services to locals and expatriates alike.
There is a huge demand for rented accommodation since everyone does not own their homes. By and large most Singaporeans work towards purchasing a flat of their own, and if they stay in rented accommodation, it could be either while they are looking for a place to buy or the rent is being paid by employers. Expatriates end up living in rented apartments for years unless they have decided to settle in Singapore and never go back to their country.
Singapore has been divided into 28 districts and each district is a distinct entity. The following is a list of the areas and localities covered in each of the 28 districts:
DISTRICT-01 includes the city area and the Business District. Localities include, Boat Quay, Chinatown, Havelock Road, Marina Square, Raffles Place and Suntec City. Popular condominiums in this district include The Sail at Marina Boulevard, The Riverside Piazza, Emerald garden, The Azure, The Riverwalk, Marina Bay Residences, Riverside Point, The Platinum, and others.
The entire residential network of Singapore is well planned, neat and aesthetically appealing. Yet, certain areas are preferred by local Singaporeans and others are considered to be favorites of expatriates. The fact remains that every locality has an interesting mix of both locals and foreigners, most likely belonging to similar economic levels. Some of the areas where more foreigners are found include the following:
The HDB townships give insights into life in Singapore. With the idea of providing shelter to all so that there are no homeless in the city, HDB came up with the first township at Queenstown. Though this was constructed by Housing Development Board’s predecessor, namely the Singapore Improvement Trust, this was a pilot project designed to taste the success and public acceptance of this housing exercise. Built more with the need to provide a home to all, the accommodation offered was basic and frill-free.
Deciding on where to stay, in which part of the city, and what type of apartment or house, is dependent on a number of factors. The fact that the selected accommodation is going to be “home” for sometime means that living there should be enjoyable, hassle-free and convenient.
HDB is a term heard incessantly in Singapore. HDB stands for Housing and Development Board and in general conversation refers to the various apartment complexes constructed by them. The Board started construction of homes in 1960, developing a few acres of land into a complete, self-sufficient township.
If you are a local Singaporean wanting to rent a place to stay – a room, an apartment or an expatriate looking for a place to rent in Singapore then you have come to the right place. This 9 part series will provide you with all you need to know about renting rooms and property in Singapore.