Esther Teo
The SRX website is a one-stop shop that helps expats heading here get settled
POPULATION cooling measures introduced in 2011 caused a dent in the number of expats residing in Singapore. But arrival numbers have been slowly picking up again.
Ministry of Manpower figures show that as of June last year, there were 180,800 Employment Pass holders — higher-skilled foreigners such as professionals, managers, executives and specialists — in Singapore, with a growth rate averaging 1.3 per cent year-on-year since 2012.
Expats are drawn here by Singapore’s reputation as a top global destination that provides the right balance of career opportunities, lifestyle and a stable economy, according to HSBC’s latest Expat Explorer survey released last September.
But relocating to Singapore — named in 2015 as the world’s most expensive city for expatriates for the second year running by the Economist Intelligence Unit — can be a costly and perplexing affair. House hunting is also set to be an exacerbated challenge, with property experts such as ERA Realty and PropertyGuru predicting lower relocation and housing allowances by compa- nies owing to the weakening global economy. This could push expats to consider renting cheaper housing alternatives such as Housing Board (HDB) flats. SRX chief executive officer Sam Baker, who has lived and worked in Central Europe and Asia, says his company’s website (SRX.com.sg) is designed to streamline the relocation process. To help newcomers get familiarised with the country, the website’s SRX Relocation Guide in either English or Simplified Chinese provides a quick reference guide to living in Singapore with information on housing options, schools, transportation, amenities and the different geographic locales within Singapore.
Once acquainted, users can then start browsing homes for sale or rent using the website’s powerful search engine.
With the engine’s unique keyword or location-based search, users who are unfamiliar with the names of homes or their postal codes can simply start searching with a location — such as a new place of work, a school, an MRT station or a landmark. They can also search multiple locations at one go.
For more details, click on the project page or adjust the search filter to look at different price ranges, property types, number of bedrooms and so on.
The sale or rental X-Value for the unit can also be derived via a computer estimate of the home’s value.
Sealing the deal
Once you have zeroed in on a preferred location, property criteria and price, engaging a trusted agent who can help shortlist homes and sort out moving issues — such as enrolling your children in schools while you are abroad — is crucial.
Says Mr Baker: “If you are buying, agents are essential as you need local advice to improve your chances of meeting your investment objectives.
“If you are renting, you need an advocate to protect your interests when living in someone’s home in a foreign country.”
Buyers or renters typically pay no commission when engaging an agent, and there are several ways to find a good one on the website.
The website allows buyers to check out a listing agent’s CV and review their past transactions, current list- ings and testimonials.
Agents with a pink Expert Analyzer logo on the website are highly recom- mended as they are trained in SRX Ana- lyzer, a Bloomberg-like terminal that contains proprietary information and analytics to help agents identify anoma- lies and opportunities in the market.
After engaging an agent, buyers and renters can simply download the SRX Home Search app for IOS or Android compatible devices to exchange and review listings with the Singapore agent from anywhere in the world for free.
Once you have shortlisted some properties, work with the agent to schedule all the home visits and simply fly in, get picked up and head to the viewings.
To help with the final decision, the SRX Analyzer application on the SRX website can also rank shortlists and run offer negotiation scenarios, especially handy if you are negotiating from abroad.
The X-Value (rent, sale, and rental yield) of your home thereafter can be tracked for the years to come at myPropertyTracker.
The free service at SRX.com.sg/propertytracker updates the value of your home every month and tracks property transactions and listings in your neighborhood.
“This way, house hunting can be a positive, exciting experience that lays a solid foundation for your family’s new life in Singapore,” says Mr Baker.