Singapore is a well-established city with superb infrastructure, disciplined society, and excellent transportation facilities. Singapore’s airport has been consistently rated among the world’s best airports. Apart from being one of the world’s safest as well as cleanest cities, Singapore is also a leader in such arenas as oil refining and distribution and shipbuilding and repairing.

The city is also a major center for electronics, finance, and communication. Al though a highly sophisticated modern city, Singapore still preserves it charm, and presents a multicultural heritage, which is an elegant mix of Indian, Chinese, Eurasian, and Malaysian cultures. In short, Singapore is a highly favored destination brimming with tourist spots as well as business opportunities. No wonder why real estate properties, both residential and commercial property, in Singapore are booming and of great demand.

Understanding the potentials and opportunities that are available here, many foreigners including retired people and business people have now started investing in residential property market in Singapore. It is estimated that an ordinary townhouse or apartment of about 1000 sq ft cost approximately $1 million. Many buyers invest in residential properties in order to rent it while some invest in it to sell it after a period of one or two years when prices rise. According to records, renting of residential properties in the city can fetch you $36,000 to $80,000 per annum. However, the location of the real estate property determines its value and rent.

For example, residential properties located on such strategic locations as the Nissam Road, Orchard Road, and Nathan Road are the all-time favorites of expats. Likewise, residential properties based in East Coast, Clementi, and Pasir Panjang, are also much sought after among the foreigners since it is close to many shopping as well as recreation amenities and international schools.

Nowadays, inner city areas are also becoming popular. Apart from location, some expats prefer to reside with their fellow country people. For instance, Europeans mostly prefer to reside in properties placed in areas like Orchard Boulevard, Taman Nakhoda, and Gallop Road. There are also some areas within the city dominated by Japanese and Koreans.

Housing options in Singapore cover everything from apartments, bungalows and condominiums to shophouse, townhouses, and flats. Residential Real Estate in Singapore has been classified into: landed and non-landed. Included in the landed properties are semi-detached houses, terraces, and bungalows. Non-landed real estate consists of condominiums, executive condos, and private apartments.

Majority of the people in Singapore reside in public houses or flats developed by the Housing Development Board (HDB.) These homes are mostly within housing estates, of which majority of them are developed neighborhoods containing supermarkets, hospitals, dining options, schools, and recreational facilities. A myriad of private property developers are also in the scenario to provide high-end accommodation.

The residential property law in Singapore prohibits foreigners to purchase or acquire a residential real estate or property here. However, overseas investors can buy a flat within a building consisting of six or more levels or any unit in a condominium. Other properties can be acquired by a foreigner, provided the Singapore Land Authority has granted permission. Likewise, for a foreign company to invest in residential property in Singapore, it is required to apply to the Residential Property Advisory Committee in order to get approval for owning residential property.

No matter it is to buy townhouse, apartment, or a single detached as well as terraced home, a plethora of realtors and property builders are now in the scenario to fetch your dream real estate property in Singapore. There are certain real estate firms providing services of professional attorneys to check the legal documents in connection with the real estate property.

Many realtors even offer superb services to deal with the laws and procedures in connection with the acquisition of property in the city. Some realtors even arrange mortgages for the acquisition of residential real estate in the city. However, it is important to carry out a thorough research with regard to their professionalism and the way they render the services, prior to approaching them.

If you are going through the relocating process in Singapore then know that you have a number of options at bay. You can opt to stay at a conventional hotel or rent out a private property of your own. Or you can go for the middle ground in the form of Singapore serviced apartments.

Over the years serviced apartments have become the accommodation of choice for relocating executives in Singapore. It has been observed that such residences are more than 25% cheaper as compared to hotels. At the same time they offer you a lot more space because instead of a single room you will have an entire apartment at your disposal.

Flexible and Cost Effective Living With Serviced Apartments

One of the major aspects that attract people to choose serviced apartments is the fact that they offer you flexible living with a wide range of facilities that you could expect to find in your home. Furthermore incidental costs are cut to the minimum because a serviced apartment gives you the ability to do your own laundry and cook your own food.

Singapore apartments are best suited to relocating families that need a suitable living space from medium to long term durations. Single corporate officials traveling for a couple of days only, would be much better off in a hotel where everything is done for you. However this would be a costlier option for relocating families.

Your other option is to go for private property. This would require you to tie yourself up in tenancy agreements which may bind you to a minimum of a year with a break clause if you vacate any sooner. This option too is not viable for a relocating family.

On comparison it is clear that apartments in Singapore are a far better alternative as compared to hotels and private property for relocating executives along with their families. It is bound to cost them lesser plus it provides them with flexible living. Relocating families will find themselves well facilitated in serviced apartments plus they will have the freedom to live as they want.

Depending upon the size of your family you can find an ideal serviced apartment in Singapore. A single relocating officer would do just fine in a studio serviced apartment. There are specially designed single bedroom apartments for couples without children and three to four bedroom apartments for larger families.

Many such residences have now sprung up in Singapore and you will be able to find one in your preferred location. Ideally you would want the residence of your choice to be close to the business district as well as the entertainment center. You should look for a place that offers you easy access to the rest of the city because of its close proximity to major transportation hubs.