In Singapore, where housing prices are still sky-high and foreign property buyers have to pay 10 percent additional buyer’s stamp duty (ABSD), a growing number of locals and expatriates and are looking for alternative housing options such as living on a boat.
Apart from being able to enjoy the open seas, living on a boat is not restricted by government measures and does not incur taxes unlike the property sector.
At the same time, Craig Marcombe, General Manager of ProMetheus Marine at Raffles Marina, Tuas, feels that that the lifestyle allows you to unwind after a hard day’s work without the need to travel very far.
“Living on a boat is a stress reliever, a relaxing kind of lifestyle,” he said.
He noted that buying a boat is comparable to purchasing a home in Singapore, with prices ranging from S$400,000 to a few million, adding that it also offers more luxury with the added benefit of mobility.
Moreover, the cost of berthing your boat, or keeping her in a marina, is very low. For instance, a 40-foot long Clipper could be berthed for a cost of only S$600 per month, while electricity and maintenance usually costs just S$70 to S$100 a month.
With two resale HDB flats in Bishan and Queenstown recently hitting record prices, more upgraders could be tempted into this lifestyle.
Looking ahead, living on a boat could catch on in Singapore as it offers a fun, alternative and independent lifestyle compared to living in a house.
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