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Real Estate in Tanjong Pagar, Singapore | Digital Nomad Exchange
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Real Estate in Tanjong Pagar

By Betsy Burlingame

Last updated on May 06, 2024

Summary: People living in Tanjong Pagar, Singapore offer advice about real estate. How do you find a home in Tanjong Pagar? Should you buy or rent? What is the cost of housing?

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What is a typical expat home or apartment like in Tanjong Pagar?

"Expat homes or apartments in Tanjong Pagar, are typically modern and luxurious, reflecting the high standard of living in the city-state. They are often high-rise apartments, providing stunning views of the city skyline. These apartments are usually fully furnished with contemporary and stylish furniture, and equipped with modern amenities such as air conditioning, high-speed internet, and state-of-the-art kitchen appliances. Many of these apartments also come with shared facilities like a swimming pool, gym, and sometimes even a tennis court. The living spaces are designed to be spacious and comfortable, often featuring open-plan living and dining areas, large bedrooms, and modern bathrooms. The location of Tanjong Pagar, being in the heart of the city, means that these homes are conveniently located close to a plethora of restaurants, shopping centers, and entertainment venues. Despite being in the city center, many apartments offer a quiet and peaceful living environment, thanks to soundproofing and the general design of the buildings. In terms of architecture, many buildings in Tanjong Pagar blend traditional Singaporean elements with modern design, resulting in a unique aesthetic that is both charming and sophisticated. The neighborhood itself is a blend of the old and new, with historic temples and markets sitting alongside skyscrapers and modern shopping malls. Overall, expat homes in Tanjong Pagar offer a high standard of living, combining luxury, convenience, and a prime location in one of Singapore's most vibrant neighborhoods," said one expat who made the move to Tanjong Pagar.

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What is the average cost of housing in Tanjong Pagar?

If you are thinking about moving to Tanjong Pagar, cost of living in probably a key consideration. Expats commented about the cost of housing:

"The average cost of housing in Tanjong Pagar can vary greatly depending on the type of property. For instance, a condominium unit in this area can cost significantly more than a HDB flat. As of recent data, the average price for a condominium unit in Tanjong Pagar can range from a few million Singapore dollars, while a HDB flat can cost several hundred thousand Singapore dollars. However, these prices are subject to change and can fluctuate based on market conditions and the specific location of the property within Tanjong Pagar," remarked one member in Tanjong Pagar.

Should I buy or rent a home in Tanjong Pagar?

If you have not spent a lot of time in Tanjong Pagar, 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 Tanjong Pagar, largely depends on your personal circumstances, financial situation, and long-term plans. If you are planning to stay in Singapore for a long period, buying a home could be a good investment. Property in Singapore, especially in prime locations like Tanjong Pagar, tends to appreciate over time. However, buying a home also comes with significant upfront costs, including a down payment, stamp duty, and legal fees. You would also be responsible for ongoing costs like property taxes, insurance, and maintenance. If you're not ready to commit to these expenses, or if you prefer the flexibility of being able to move easily, renting might be a better option for you. Renting in Tanjong Pagar gives you the flexibility to move around and try out different neighborhoods. It also allows you to avoid the large upfront costs associated with buying a home. However, you won't build equity as you would if you were paying off a mortgage, and you might have to deal with rent increases or the possibility of having to move if your landlord decides to sell the property. In conclusion, whether you should buy or rent a home in Tanjong Pagar depends on your financial situation, how long you plan to stay, and your personal preferences. It's a decision that requires careful consideration and, ideally, advice from a financial advisor or real estate professional," remarked one member in Tanjong Pagar.

About the Author

Betsy Burlingame 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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