In Singapore, the demand for studio apartments has seen an upward trend, especially since the young crowd is increasingly looking to stay in their own spaces. This short blog aims to educate you on what studio apartments offer so that you can make an informed decision when it comes to renting a studio apartment in Singapore.
What Is a Studio Apartment?
With only the bathroom separated by walls, a studio apartment is a compact living space where the living room, bedroom, and kitchen are held in one open area. It is perfect for those who prefer minimalist living.
Benefits of Living in a Studio Apartment
The open floor plan promotes a more organised lifestyle by limiting clutter. Renting a studio apartment is budget-friendly since it comes with lower furnishing and utility costs. Plus, they are often located in central locations that offer easy access to amenities. This makes studio apartments popular among those seeking affordable lodging options in Singapore.
The Right Studio Apartment: Rent Vs Buy
Image by LEEROY Agency from Pixabay
Deciding whether to buy or rent is an important decision that should be based on various factors such as financial stability, long-term goals and lifestyle preferences. For instance, buying a studio apartment in Singapore requires a major upfront payment that will include the down payment, legal fees, and stamp duties, whereas renting mainly includes the deposit and the first month’s rent. Those who rent have fewer monthly financial obligations apart from paying the rent while buyers need to account for maintenance fees and property taxes. If you’re looking for investment opportunities, buying a studio apartment would be a good idea. If you prefer flexibility, however, renting might be the better option.
Location Matters
When considering a studio apartment, it’s essential that you find a neighbourhood that fits your lifestyle. For instance, if you work in the Central Business District, finding an apartment in areas like Tanjong Pagar offers reduced commute times. If you’re a shopping enthusiast, staying at Oakwood Studios Singapore will place you closer to Orchard Road.