A Singapore condominium or 'condo' simply speaking, is a complex project in which individuals units are sold. Whenever you purchase a unit in a condominium, you've individual ownership of all things within the walls of the unit. Simultaneously you've shared ownership using the other people who just love the common property including the elevators, club house, swimming pool, gymnasium, tennis courts along with other communal facilities.
Sant RitzA condominium is among the most typical forms of housing in Singapore. But not all condominiums in Singapore are similar. There exists a number of options available to appeal to different market segments of buyers.
On the top quality, there is a luxury type of condominiums that cater to individuals with very deep pockets. Typically they're found in the prime districts of Singapore, in areas like Orchard Road, Keppel Bay and Sentosa. They attract highly sophisticated and discerning clients who are not wanting to purchase a property but exclusive lifestyle concepts that befit their status.
Developers of luxury condos spare no efforts to ensure the homeowners will enjoy the best quality with regards to finishing, fittings and fixtures. Facilities and amenities may also be top-end. Recently in which hire the services of well-known architects to make distinctive architectural designs and themes that talk about the individuality of their projects.
You can also find condominiums of the mid-tier range. These are generally located nearby the city fringes, in areas like Newton Novena and Tanjong Rhu. These projects are popular because of the close proximity towards the city centre where the business and entertainment hubs are and full facilities they provide. They also come with various kinds of themes that appeal to successful professionals and yuppies.
Then, you can find the mass-market condominiums mainly located in suburban areas and in addition come with good communal facilities. Such condos usually have entry-level pricing to appeal to many buyers who desire to upgrade from public housing to personal property.
Singapore has a unique feature here. Under the mass market condominium category, there's a sub-set of condominiums called Executive Condominiums (EC). An EC is a hybrid of private and public housing created by the us government. They're priced less than private properties to cater to the affordability of the Singaporeans, specifically young professionals, who aspire for private housing but find prices of non-public property beyond their reach.