Real Estate in Novena
Last updated on Nov 01, 2024
Summary: People living in Novena, Singapore offer advice about real estate. How do you find a home in Novena? Should you buy or rent? What is the cost of housing?
What is a typical expat home or apartment like in Novena?
"Expat homes or apartments in Novena are typically modern, spacious, and well-equipped with all the necessary amenities. They often feature a contemporary design with a blend of both Western and Asian influences. The living room is usually large and airy, with floor-to-ceiling windows that allow plenty of natural light and offer stunning views of the city. The kitchen is often fully fitted with high-end appliances and ample storage space. Bedrooms are usually generously sized, often with en-suite bathrooms. Some apartments may also come with additional facilities like a home office or a study room, catering to the needs of working expats. Many expat homes in Novena also come with shared amenities such as a swimming pool, gym, and sometimes even a tennis court or a barbecue area. These homes are often located in close proximity to international schools, shopping malls, and public transportation, making them highly convenient for expats. Despite being in the heart of the city, many expat homes in Novena are located in quiet, leafy neighborhoods, offering a peaceful and tranquil living environment. Some may even have a small garden or a balcony, providing a little oasis in the bustling city. In terms of interior decor, many expats choose to bring a touch of their home country into their Singaporean apartment, creating a unique blend of cultures. However, the overall aesthetic typically leans towards minimalism, with a focus on functionality and comfort. In summary, a typical expat home in Novena, Singapore is a comfortable, convenient, and luxurious living space that offers a high quality of life," said one expat who made the move to Novena.
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What is the average cost of housing in Novena?
If you are thinking about moving to Novena, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The average cost of housing in Novena can vary greatly depending on the type of property. For instance, a condominium unit in Novena can cost on average between SGD 1.5 million to SGD 2 million. HDB flats, on the other hand, are typically more affordable, with prices averaging around SGD 600,000 to SGD 800,000. Landed properties in Novena are the most expensive, with average prices often exceeding SGD 4 million. However, these prices can fluctuate based on factors such as property size, location, and market conditions," explained one expat living in Novena, Singapore.
Should I buy or rent a home in Novena?
If you have not spent a lot of time in Novena, 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 Novena depends on your financial situation, long-term plans, and personal preferences. If you have a stable job, plan to stay in the area for a long time, and can afford the down payment and monthly mortgage payments, buying a home could be a good investment. Owning a property in Novena can provide you with a sense of stability, the opportunity to build equity, and the freedom to make changes to your living space. On the other hand, if you are unsure about your long-term plans, have a limited budget, or prefer not to deal with the responsibilities of homeownership, renting might be a better option for you. Renting a home in Novena allows for more flexibility, as you can easily move if your circumstances change. Additionally, renting can be more affordable in the short term, as you won't need to worry about property taxes, maintenance costs, or a large down payment. Ultimately, the choice between buying and renting a home in Novena, Singapore comes down to your personal situation and preferences. Consider your financial stability, long-term plans, and the lifestyle you desire before making a decision," said one person in Novena.
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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