Singapore is one of the world’s most liveable cities. It’s a modern metropolis with a cosmopolitan vibe, great natural beauty, and much more. Living in Singapore isn’t as daunting as you might think. If you have a few basic skills and are willing to put in some effort, you can adapt to a new culture and succeed in life. With a stable political system and a high standard of living, Singapore is a popular choice for ex-pats. Here’s everything you need to know about settling in Singapore.
Finding A Place To Live
Depending on your lifestyle, there are three sections of Singapore that might be the best fit. Tanjong Pagar is a perfect choice for people who prefer the hustle and bustle of the city. River Valley is a great location if you’re looking to get away from it all but still want to be close to the action, especially if you’re looking to raise a family. And, if you’re looking for an idyllic Singaporean experience, Katong might be a good pick for you. Choose one of these three locations and start your search for housing in Singapore. Depending on how much space you need, there are several potential options – from studios to two-bedroom apartments and more. If you’re planning on staying in one location for a long period of time, buying a condominium or apartment may be your best option. However, if you’ll be travelling sometimes and want to save money on travel costs like taxis, consider renting short-term accommodation.
Buying Or Renting?
One of the first things you’ll need to decide is whether you want to buy or rent. It might seem like a straightforward decision, but it can be complicated. Buying a property means commitment and responsibility, but it also means you have more control over where you live. Renting has its advantages, too: if you don’t like your living situation for whatever reason, all you have to do is move out.
Securing An HDB Bank Loan
One of the most difficult aspects of finding a home in Singapore when you decide to buy is securing an HDB bank loan. The HDB loan has strict lending criteria. Loans are not available to foreigners, meaning you must be a citizen, and you’re only eligible for one if you have a 15% down payment. To be eligible for HDB loans, you need to have at least an annual income of S$7,000 for singles, S$14,000 for families, and S$21,000 for extended families. For more information on these loans, head over to PropertyGuru for their extensive information on the HDB bank loan. This will be a great starting point, as you can also see what sort of properties are available through a bank HDB loan.
The Cost Of Living
The cost of living in Singapore is on the high side, but it’s not as expensive as in other countries. The cost of renting can vary depending on the location and quality of your apartment. If you’re spending a lot of money on rent and it’s cutting into your ability to pay for basic necessities, it may be better to buy a property so that you have greater control over your living situation and finances.
The Job Market
The job market in Singapore is one of the best in the world. With so many opportunities, it can be difficult to decide where to start. In general, it’s best to start with an entry-level position. This will allow you to get your bearings and figure out your preferred employment sector before committing to a more permanent position. When looking for work, it’s important to have some qualifications on hand as well as an up-to-date resume.
Singapore’s Universal Healthcare
One of the top benefits of living in Singapore is its universal healthcare system. The country provides free, quality healthcare to all citizens and permanent residents. This system covers everything from routine check-ups to treatments for chronic illnesses and childbirth. You pay a small monthly contribution, which can be waived if you’re unemployed or retired. However, until you are a citizen, you won’t be eligible for universal healthcare and will need to have more comprehensive insurance to cover your needs.
What Vaccination Do You Need?
There are a few vaccinations you might need before moving to Singapore. Hepatitis B, Typhoid, and Yellow fever vaccinations are all necessary if you’re planning on living in Singapore. Hepatitis B is needed because it can spread through bodily fluids and cause extreme illness. Typhoid is another dangerous illness that spreads through contaminated food or water. Yellow fever is an even more serious illness that can be fatal if not treated quickly.
You’ve decided to work and live in Singapore. You’ve got a place to stay, you’ve secured a job, and you’ve planned your vaccination schedule. What’s left? To live comfortably in Singapore, you need to understand the costs. Fortunately, many ex-pats find that even though the cost of living is relatively high, the quality of life is worth it. So take the time to learn about some of the details and make your move to Singapore with an open mind.