Skies Miltonia

New Condo Launch

A Singapore condominium or 'condo' in a nutshell, is really a complex project where individuals units can be bought. Once you obtain a unit in a condominium, you've individual ownership of everything inside the walls from the unit. At the same time you've got shared ownership with the other owners of the normal property like the elevators, club house, pool area, gymnasium, tennis courts along with other communal facilities.

A condominium is one of the most common forms of housing in Singapore. But not all condominiums in Singapore are identical. There's a great deal of possibilities to appeal to different market segments of buyers.

On the high end, there is a luxury class of condominiums that cater to people that have very deep pockets. Typically these are found in the prime districts of Singapore, in areas like Orchard Road, Keppel Bay and Sentosa. They appeal to highly sophisticated and discerning clients who aren't simply looking to buy a house but exclusive lifestyle concepts that befit their status.

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

Then there are condominiums of the mid-tier range. These are definitely located close to the city fringes, in areas like Newton Novena and Tanjong Rhu. These projects are popular due to their close proximity to the city centre the location where the business and entertainment hubs are and full facilities they offer. Additionally they include various kinds of themes that interest successful professionals and yuppies.

After which, you can find the mass-market condominiums mainly positioned in suburban areas and in addition include good communal facilities. Such condos will often have entry-level pricing to focus on many buyers who desire to upgrade from public housing to private property.

Singapore has a unique feature here. Beneath the shop bought condominium category, there exists a sub-set of condominiums called Executive Condominiums (EC). An EC is a hybrid of public and private housing introduced by the federal government. They are priced less than private properties to cater to the affordability of these Singaporeans, specifically young professionals, who aspire form of hosting housing but find prices of non-public property beyond their hands.

But there are certain rules and restrictions governing the ECs, including a 5-year minimum occupancy period from the owner before they're able to market it in the resale market. Plus they are only able to sell to foreigners after Ten years.

New Condo Launch

Knowing the different types of condominiums in Singapore can help you restrict your research for that condominium home you like most. You will not must spend time looking at those projects that don't be practical. If you are looking to purchase a fresh condominium, it is usually easy to tell which category it belongs to by its designated location and the way the developer advertise the project.

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