Why There Are More Renters Than Owners At Urban Vista

One of the things you will very quickly notice about Urban Vista condo is that most of its inhabitants are expatriates and foreigners on Long Term Visit Passes. Why is that the case? Let us explore that here!

Firstly, UV is one of the closest condominiums to Changi Business Park because it is just one train station away from expo which then leads to Changi Business Park. Since an increasing number of expats in newer jobs are actually working at Changi Business Park instead of the Central Business District of Singapore, they would rather rent a place at UV at Tanah Merah than somewhere in town due to proximity.

Secondly, the size in sqft for the units is actually really small compared to other condos due to it being a loft SOHO style. Since most families locally usually have 1 aged parent from one or both of the couple, this would not be a very feasible housing option for local families. However, this small space and loft style is not a concern for most expats who are used to it, or are simply living by themselves and kids at most and thus it is not a concern for them. Accessibility to work is more important, because most expats do not buy a car during their few years in Singapore.

Third of all, there was initially a minimart at level 1 of the condo which allowed for public access. Obviously, if your family is staying there, you would not like that very much. However, as an expat who is largely in Singapore only to work, and who would socialize in bars in Clarke Quay after work will not be affected by that, they do not mind renting here. Although the minimart is no more, that has affected the initial type of sales and renters.

Last but not least, the car park has very few slots, and since most Singaporean families living in condos usually at least have 1 car, if not more, there is not as much of a strong pull to UV for local families to own a unit here.