If you are considering moving to another country, Singapore might be an option that you have considered. Maybe you have an upcoming job assignment in Singapore that will allow you to move to this country for an extended period of time, or maybe you are interested in starting a business there.
Of course, one of the main questions for anybody who is thinking about moving to Singapore will be whether or not it is a good place to live. There are lots of different factors to consider before you decide whether or not moving to Singapore is the best choice for you.
If your main aim is to purchase a property, then Singapore can be an ideal choice of somewhere to live. Foreigners are welcome to purchase property here although you will need to be prepared for the fact that there are some restrictions on the type of property that you can purchase and the type of property loan that you will be eligible for.
You can find out more about the properties on offer and get more information on the different types of property loan Singapore, how to apply and more at PropertyGuru. PropertyGuru is one of the most popular and well-trusted property sites in the country for both foreigners and locals looking to purchase a house, condo or flat.
Cost of Living
For many people, the cost of living is one of the most important factors to keep in mind when determining whether or not somewhere is going to be a good place to live. Although the fact that Singapore has been named as the most expensive city in the world in the Economist for four years running, the good news is that living here does not have to be as expensive as it might first sound. If you are savvy and have the right strategies in place, then living cheaply in Singapore is more possible than you might realize.
Much of the high cost of living here comes from all the luxuries that are available, which you don’t always need and can usually find much cheaper alternatives to, especially when it comes to food with plenty of reasonably priced food outlets. You can also forgo having a car easily since the public transport system is cheap and reliable. And one of the main benefits of living and working in Singapore is that you get to keep more of your income in your pocket compared to working in the US or Europe thanks to lower income tax rates.
Working in Singapore
How easy it’s going to be for you to find work in a new country could be one of the main deciding factors when it comes to making your decision as to whether or not this is a good place for you. It’s a good idea to secure a job offer before you arrive if you are planning to move to Singapore permanently or long-term.
The country has strict employment laws that favor locals, which can make it harder for you to find work if you just turn up in the country without a job. Before you can start working in Singapore you will need to apply to the Ministry of Manpower for an employment pass, which will only be granted if you have an employment offer in principle or are being relocated to Singapore from another country while working for an international company.
How easy is it to get around in Singapore? Even if you’re moving here to work or start your own business, chances are that you are going to want to see as much as possible of Singapore. If you need or want to drive your own car, then Singapore might not be the best choice for you since owning a car here can make your stay very expensive.
Most people on the island do not need or use a car as the authorities have invested a lot into the public transport system which is now one of the best and the most reliable around the world. If you plan to buy a car in Singapore then you will need to consider that the prices here are much more expensive compared to what you would pay elsewhere, and you will also need to get a Certificate of Entitlement which can sometimes cost the same as buying a car.
Finance and Banking
How can you manage your money and make payments in Singapore? Paying for goods and services is easy here and debit and credit cards are widely used. Singapore has embraced card payments fully and is on its way to becoming a cashless society. Most banks are also available online, and managing your money is fairly easy and convenient.
Singapore is a great place to live for many people. Consider your needs in a new home before deciding if it’s the right choice for you.
Alex Grogoyan is a Professional Home Improvement and Lifestyle Writer. He has been in the industry for over 6 years and has been writing for Chique Home Living since 2019. His work has been featured in popular platforms such as Spruce Home, Better Homes & Garden, and more.