20 novembre 2015 ~ 0 Commentaire

5 Enticing Ways To Improve Your Buy Singapore Condo Skills

A Singapore condominium or’condo’in a nutshell, is a property singapore in which individuals units are sold. Once you purchase a unit in a condominium, you have individual ownership of everything within the walls of the unit. At the same time frame you have shared ownership with the other owners of the normal property including the elevators, club house, swimming pool, gymnasium, tennis courts and other communal facilities.

A condominium is one of the very most common types of housing in Singapore. But not absolutely all condominiums in Singapore are the same. There is a wide selection of possibilities to appeal to different market segments of buyers.

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At the top end, there’s the luxury class of condominiums that appeal to those with very deep pockets. Typically they are situated in the prime districts of Singapore, in areas like Orchard Road, Keppel Bay and Sentosa. They interest highly sophisticated and discerning buyers that are not only looking to buy a property but exclusive lifestyle concepts that befit their status.

Developers of luxury condos spare no efforts to ensure the homeowners will enjoy the finest quality with regards to finishing, fittings and fixtures. Facilities and amenities may also be top-end. Recently some even engage the services of well-known architects to produce distinctive architectural designs and themes that mention the uniqueness of their projects.

Then you will find condominiums belonging to the mid-tier range. They’re typically located near the town fringes, in areas like Newton Novena and Tanjong Rhu. These projects are popular because of their close proximity to the town centre where in fact the business and entertainment hubs are and full facilities they provide. In addition they come with various kinds of themes that interest successful professionals and yuppies.

And then, you will find the mass-market condominiums mainly situated in suburban areas and also come with good communal facilities. Such condos usually have entry-level pricing to cater to numerous buyers who aspire to upgrade from public housing to private property.

Singapore has a unique feature here. Underneath the mass market condominium category, there’s a sub-set of condominiums called Executive Condominiums (EC). An EC is really a hybrid of public and private housing introduced by the government. They are priced below private properties to appeal to the affordability of those Singaporeans, in particular young professionals, who aspire for private housing but find prices of private property beyond their reach.

But you will find certain rules and restrictions governing the ECs, including a 5-year minimum occupancy period by the owner before they’re allowed to sell it in the resale market. And they are able to only sell to foreigners after 10 years.

Understanding the different kinds of condominiums in Singapore will allow you to narrow down your seek out the condominium home that suits you most. You will not need certainly to spend your time looking at those projects that do not meet your needs. If you should be looking to buy a fresh condominium, it is usually easy to inform which category it belongs to by its designated location and how a developer advertise the project.

 

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