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Property prices in Singapore

Hello everyone,

Finding affordable housing in Singapore is number one priority for newcomers. Tell us more about the estate market in your district/city/region.

What are the most desired places to live? What are the most affordable ones? What is the average cost of a rented flat? And what is the average sale price for an appartment or a house? Could you tell us more about local real estate policies/procedures? What about property tax or residency tax in Singapore?

What about you? Where do you live now? Is it a place you would recommend?

Thank you in advance for your clarifications.

Priscilla

Since property ownership is restricted for foreigners (an extremely expensive), most foreigners rent.
The Singapore property market is divided into governmentally-subsidised HDB flats, which foreigners cannot buy and renting is also restricted, and private properties, mostly in high-rise "Condominiums" with certain amenities and luxuries, that have no such limitations.
Rents are high and volatile, depending on the economic situation. Budget S$3000-5000/month for a family-sized apartment. Smaller places fit for singles are rare and cost from S$2000/month upwards. There are no one-room or studio flats!
Sublet rooms in shared apartments cost S$800-1200/month and are the usual option for singles.
Many rental apartments are furnished, but do not expect new, practical or good-looking pieces.
On top of the rent, a tenant has to pay stamp duty (a tax to make the rental contract legally valid) and of course electricity/gas. This can amount to S$200-500/month for a family-sized unit, mostly depending on your aircon usage.

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