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What Are Studio Apartments And Where to Rent/Buy Them In Singapore (2020 Edition)

What Are Studio Apartments And Where to Rent/Buy Them In Singapore (2020 Edition)

Everyone reaches a point in life where they want to leave the nest and move to a place of their own.

You may consider the prospects of being independent and start coming up with ideas for designing and decorating your home. You might be planning to live alone, with a partner or a group of friends.

The reality is that several young Singaporeans encounter a common challenge when they want to move out, which is a lack of adequate funds. Properties and homes within Singapore are not cheap, and if you do not have a large stash of money set aside in your savings, finding a new home can be difficult. Buying or renting an apartment with several rooms can leave a dent in your finances.

Some people will opt to rent a room in another person’s apartment as an affordable alternative. While this comes with the benefit of lower costs and enables you to have a space of your own, it can be cumbersome to live with people you do not know and adhere to the rules that they set.

For example, a landlord might not permit pets or cooking using certain appliances. These factors beat the point of moving out as people generally want to be able to in charge of their homes and determine their own rules and routines. The next practical option is a studio apartment.

 

What Are Studio Apartments And Why Are They Popular? 

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A studio apartment is a relatively new concept that as rapidly gained popularity around Singapore over time. Studio apartments refer to self-contained rooms that are typically small in size. The apartment consists of a combination of a kitchen, living room, bathroom and bedroom in one place.

Studio apartments are great for single individuals who want to enjoy their own space. However, they are also sizeable enough to cater to the residential needs of couples and friends who want to share a residential area to cut down on the costs of accommodation.

Honestly, with studio apartments, you do not have to worry about a landlord or strangers living with you.

 

Benefits Of Living In A Studio Apartment

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There are numerous studio apartments around the island that are usually fully occupied, and this popularity attributed to various reasons.

1. Minimal Cleaning And Maintenance

Singaporeans are accustomed to the fast-paced living lifestyle here on our sunny island. After a long day of work, most of us barely have the energy to do chores and clean the house.

When you live in a smaller space, you will not need to do as much as cleaning and maintenance as you would in an ample space. That helps to save you a substantial amount of energy, time and money. On the other hand, living in a house that contains several rooms requires a lot of effort to keep the whole place clean as well as more time for regular maintenance.

2. Less Clutter

“Does it spark joy?”

The term decluttering gained popularity after Japanese organizing consultant Marie Kondo shared her expert advice with the world. Not only did she earn her own series on Netflix, local social media and news site SGAG also made a Marie Kondo parody, gaining more than 150,000 views on YouTube.

Having clutter in the house makes the place look messy, affecting the moods of the homeowners.

With a studio apartment, space is limited. It means that it is virtually impossible to pile up clutter and things that you do need. Less clutter means that it is easier to organise your space and maximise on the functionality of your apartment.

A minimalistic approach is linked to a better mood, various physical and mental health benefits and can even help to boost an individual’s productivity.

3. Affordability

One of the main attractive aspects of studio apartments is the cost.

A smaller space costs less in terms of rent. You can also expect to save money on furnishing the space. With the rising cost of living and expensive rental fees, a studio apartment is an excellent option for anyone on a stringent budget.

4. Utility Bills

In a smaller and comfortable apartment, your requirements for lighting and air conditioning get reduced. That means that you can say goodbye to high monthly bills. Lower rent and utility bills are bound to attract people who are living on a budget but do not want to compromise comfort for affordability.

5. Location

A studio apartment is usually centrally next to bus terminals, MRTs and commercial establishments. With studio apartments, you can save time commuting to work. Various studio apartments typically feature unique designs and building structures. The site is a significant factor when picking a house or apartment. A prime location may mean a higher price, but the convenience is usually worth the extra cost.

 

How Much Do Studio Apartments Cost In Singapore?

Rental

There is a high demand for studio apartments around Singapore among students, young professionals and people setting up their first homes. The average monthly studio rental price ranges from $1,000 to $13,900. These costs may change based on factors such as location and facilities provided. It is more expensive if the studio apartment is located within a condo.

Studio apartments are typically between 35 square meters and 39 square meters, which can vary in different locations.

Purchase

For some individuals and couples, they may choose to purchase a studio apartment instead. Some make this choice because they don’t plan to have kids or don’t have children yet. The cost of a studio apartment varies according to factors such as location and amenities. Prices can be upwards of $500,000 for prime locations and $250,000 in less populated areas.

 

Rental And Property Websites To Find Your Studio Apartment 

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Looking for a studio apartment? Lots of websites upload properties for their customers. Here are the top sites in Singapore!

1. PropertyGuru

This site provides a detailed and informative list of both residential and commercial properties. It is among the top sites on the property market in Singapore and also targets people who want to find out about new apartments through extensive listings.

The site is known for its informative content and being a quality resource for educational content. Videos containing expert opinions and insight get provided to keep real estate enthusiasts updated about property and property prices. These are useful for helping shoppers make well-informed and timely choices.

Visit their website here.

2. 99.co

This site has gradually built its reputation as a reliable source of information about condos and flats. One of the outstanding aspects of the website is the search that is map-based to make it easier to find suitable properties in various locations.

There have also been more listings with several properties getting advertised. The portal contains an interactive app that allows you to search for property from your phone conveniently.

Home seekers get connected to the homes of their dreams through an extensive network of customer service agents, writers, property agents, engineers and other professionals on the site.

Visit their website here.

3. RentinSingapore

The portal contains a large number of listings that attract several views. It stands out from the rest of the competition by providing favourable rates along with an interface that is easy to use and navigate. That makes it much easier for you to browse and look at different houses.

A wide range of room and property listings are updated frequently, and helpful customer service agents are always ready and willing to address visitors’ concerns and queries.

The site focuses on rentals and assists prospective tenants who are looking for the ideal room that they can rent and condos as well as roommates.

Visit their website here.

4. STProperty

STProperty is a property site that covers a range of options, including industrial, commercial, studio apartments, HDB and properties overseas. The portal provides a complete database of resources that contain useful articles and guides.

You can also find out more about different aspects of real estate, regulations and policies, property listings and market trends.

Visit their website here.

5. iProperty

iProperty is a site that deals with condo and apartment rentals within Singapore. It provides more in-depth coverage than other sites and updates details on the real estate sector in the country. Property listings on the website are tracked throughout the day to ensure that people looking for homes can access an accurate and current database of the properties that are available in the market.

Visit their website here.

6. Ohmyhome

Ohmyhome is committed to making it housing transactions more affordable, faster and easier. The site has eased property transactions by enhancing and simplifying the overall user experience.

As a one-stop-shop for all your property needs, sellers, buyers, landlords and tenants can get any assistance that they require for a home transaction. The site’s emphasis on technology and dedicated customer service focuses on making your experience better and simpler.

Visit their website here.

7. MetroResidences

MetroResidences is a site based on the belief the looking for and living in an apartment should be a simpler and more enjoyable experience at a price you can afford. The site was created to fulfil the goal of accommodating people in amazing service apartments. Each apartment is selected carefully, and regardless of how long you plan to stay, you can rest assured that the apartment will get beautifully furnished in a central location.

Visit their website here.

 

Tips For Getting A Studio Apartment

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What do you need to know before getting your studio apartment? What should you take note of and how do you find the best price for your home?

Determining Affordability

Before you start looking for a studio apartment, it is important to figure out how much you can comfortably afford to pay. You need to consider aspects such as your income, daily living expenses, debts and other bills. Examine your budget before and ensure that you have enough money to fulfil your obligations.

If you require help with your studio apartment’s rent, you can approach the consultants at Katong Credit. Always ready to offer a hand to those in a financial pinch, Katong Credit offers affordable loan packages that can help you.

Finding A Suitable Area

You need to figure out an ideal place for you to live depending on where you work.

Generally, your transportation costs are likely to be higher when you live far away. Try to find a balance between living as close as you can to where you work and taking advantage of the lower costs of choosing an apartment in a certain location. You might save money by being close to public transportation.

An online search can help you get a general idea of costs within a particular area. Take advantage of property sites that enable you to limit your search for a studio apartment to a specific area and find out the price range of property in that area.

Roommates

After determining the price range and what you can afford to pay, you can decide whether you want to live a roommate.

Sharing a studio apartment with someone else can make it easier to afford rent and utilities, but you may be compromising on privacy. Do the calculations to figure out the potential savings and whether giving up some of your privacy will be worth with when dealing with roommates when paying rent, bills and taking care of household tasks.

If you want to have your own privacy but need help with rental costs, you can speak to us at Katong Credit. We are always ready to listen to your needs and offer a solution.

Look At Different Properties

After deciding on the area you want to live in, you can find some excellent deals online. Contact several property managers or agents to find out what is available. View a few properties at a time rather than multiple options to avoid being overwhelmed by the options available.

Reading The Lease

Going through the details of the lease carefully can save you a lot of frustration in the future and make sure that you do not breach the agreement that leads to legal problems. You can get ready by collecting pertinent information and ensuring that you understand the content of the lease and be confident about what you are leasing.

 

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