You’re an expatriate who recently got a job offer in Singapore, or you’re a new foreign student at one of Singapore’s universities. Whatever your situation is, there are a few things that you should know about when you decide to rent a property in the republic.
In Singapore, how much a property costs depend entirely on factors that include the quality of furnishings (if it’s a furnished property); whether the property is fully furnished, partially furnished or unfurnished; the property’s relative age (older properties often require more maintenance fees); recreational facilities availability (like gym or pool); and the location of the property (the ones in the city or closer to the city are generally more expensive).
- HDB flats This is a government housing flat, and is especially perfect for students on a tight budget. The majority of Singaporeans live in these units. The monthly rental cost depends on the unit size and location. The cost for a typical 3-bedroom unit generally ranges from S$2, 000 to S$3, 000. While the units don’t come with gyms or swimming pools, they’re often close to schools, clinics, markets or banks. This type of property is a reasonable choice whether you’re a single student or a working expat with family in tow.
- Condominiums Many Singaporean expats prefer to live in a condo due to its recreational facilities, such as playgrounds, secured access, swimming pools, and tennis courts. Condos are also more affordable than a landed property. For private condos, the rental cost varies depending on the building’s age and location. A 3-bedroom unit located in prime areas would cost around S$7, 000 to S$15, 000. For the same unit outside of the city centre, the monthly rental cost would be around S$3, 000 to S$5, 000. Get more Singapore condo rental advice if you’re interested in this type of property, as they may also come with various leases.
- Serviced apartments For those who are only staying in the country for a short time, or prefer a flexible lease, a serviced apartment might be your option. These units are fully furnished, with flexible leases on a daily, weekly, or monthly basis. Depending on location and how luxurious the place is, a one-bedroom unit could costs somewhere between S$7, 000 to S$14, 000.
- Private apartments This type of property is similar to condominiums in Singapore, but it lacks recreational facilities. A 3-bedroom unit in prime areas could cost between S$5, 000 to S$7 ,000, while the outskirt ones cost around S$4, 000.
- Landed properties Landed properties are the most expensive type of property in Singapore, and they include bungalows, detached houses, semi-detached houses, and terraced houses. The average monthly rent for semi-detached and terraced houses is between S$8, 000 to S$13, 000. For detached houses, it’ll cost about S$8, 000 and up. For high-end bungalows, they’ll set you back at least S$35, 000 a month (these properties often have a big garden and four to five rooms).
Now that you know the price range of each type of property (and what comes with them), you can decide which one suits you the most. Find a place that fits your budget, preferred location, and other personal needs such as flexible lease, recreational facilities, or security.