Real Estate in Orchard Road
Last updated on Feb 03, 2024
Summary: People living in Orchard Road, Singapore offer advice about real estate. How do you find a home in Orchard Road? Should you buy or rent? What is the cost of housing?
How do I find a place to live in Orchard Road?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"Finding a place to live in Orchard Road involves several steps. First, you need to determine your budget. The cost of living in Orchard Road is quite high compared to other parts of Singapore due to its prime location. Next, decide on the type of accommodation you want. Options range from condominiums, serviced apartments, to landed properties. Once you have a clear idea of what you're looking for, start your search. You can use online property portals like PropertyGuru, 99.co, and SRX Property. These websites allow you to filter your search based on location, property type, price range, and other factors. Alternatively, you can engage a real estate agent to help you in your search. They have extensive knowledge of the property market and can provide you with options that fit your criteria. When you find a potential place, arrange for a viewing. This will give you a better idea of the property's condition, its surroundings, and whether it suits your needs. If you're satisfied with the property, you can proceed to negotiate the lease terms. Make sure to read the contract thoroughly and understand all the terms and conditions before signing. Lastly, once everything is in order, you can move into your new home in Orchard Road. Remember, finding a place to live can take time, so it's important to start your search early," said one expat who made the move to Orchard Road.
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What is a typical expat home or apartment like in Orchard Road?
"A typical expat home or apartment in Orchard Road, is often a high-rise condominium or serviced apartment. These homes are usually modern, spacious, and well-equipped with all the necessary amenities. The living room is often large and airy, with floor-to-ceiling windows that offer stunning views of the city. The kitchen is typically fully equipped with modern appliances, including a refrigerator, oven, and dishwasher. The bedrooms are usually spacious, with built-in wardrobes and en-suite bathrooms. Some apartments may also have a study or home office, which is a valuable feature for expats who work from home. The bathrooms are typically modern and luxurious, often featuring a bathtub and a separate shower area. These homes often come with additional amenities like a swimming pool, gym, and sometimes even a tennis court within the condominium complex. Security is usually top-notch, with 24-hour security services and CCTV cameras in common areas. The location on Orchard Road means that these homes are in close proximity to a plethora of shopping malls, restaurants, and entertainment options. Despite being in the heart of the city, many apartments offer a tranquil and quiet living environment, thanks to soundproofing and the presence of green spaces within the condominium complex. In terms of interior design, many expat homes in Orchard Road feature a mix of Western and Asian influences, with modern furniture and decor. Some apartments may also come fully furnished, making it easy for expats to move in without having to worry about buying furniture. Overall, a typical expat home in Orchard Road, Singapore, offers a comfortable, luxurious, and convenient living experience," said one expat who made the move to Orchard Road.
What is the average cost of housing in Orchard Road?
If you are thinking about moving to Orchard Road, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The average cost of housing in Orchard Road, can vary greatly depending on the type of property. For a luxury condominium in this prime location, one can expect to pay several million Singapore dollars. For a more modest apartment or flat, the cost can still run into the millions. However, it's important to note that these prices are subject to change and can fluctuate based on market conditions," remarked one member in Orchard Road.
Should I buy or rent a home in Orchard Road?
If you have not spent a lot of time in Orchard Road, 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 Orchard Road, depends on your financial situation, long-term plans, and personal preferences. If you have the financial means and plan to stay in Singapore for a long time, buying a home could be a good investment, as it allows you to build equity and potentially benefit from property appreciation. Additionally, owning a home provides stability and the freedom to customize your living space. On the other hand, if you are unsure about your long-term plans or prefer flexibility, renting might be a better option. Renting a home in Orchard Road allows you to explore different neighborhoods and housing options without the commitment of a mortgage. It also frees up your finances for other investments or expenses, as you won't need to worry about property taxes, maintenance costs, or down payments. Ultimately, the choice between buying and renting a home in Orchard Road, Singapore, depends on your individual circumstances and priorities. It's essential to carefully consider your financial situation, lifestyle, and future plans before making a decision," said one expat who made the move to Orchard Road.
About the Author
Betsy Burlingame is one of the founders of Digital Nomad Exchange and the Founder and President of Expat Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange and Digital Nomad 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.
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