Condominiums In Singapore - The Different Categories

Condominiums In Singapore - The Different Categories

A Singapore condominium or 'condominium' in short, is a posh project in which individuals items are sold. Whenever you buy a unit in a condominium, you may have individual ownership of everything within the partitions of the unit. On the same time you've got shared ownership with the opposite owners of the common property such because the elevators, club house, swimming pool, gymnasium, tennis courts and other communal facilities.

A condominium is likely one of the commonest types of housing in Singapore. But not all condominiums in Singapore are the same. There's a huge range of options available to cater to completely different market segments of buyers.

At the high end, there's the posh class of condominiums that cater to these with very deep pockets. Typically these are situated in the prime districts of Singapore, in areas like Orchard Road, Keppel Bay and Sentosa. They enchantment to highly sophisticated and discerning buyers who are not merely looking to purchase a house but exclusive lifestyle concepts that befit their status.

Builders of luxury condos spare no efforts to make sure the householders will benefit from the best high quality in terms of finishing, fittings and fixtures. Amenities and amenities are also prime-end. Recently some even have interaction the services of nicely-known architects to create distinctive architectural designs and themes that bring up the individuality of their projects.

Then there are condominiums belonging to the mid-tier range. These are typically located near the town fringes, in areas like Newton Novena and Tanjong Rhu. These projects are widespread resulting from their shut proximity to town centre the place the business and leisure hubs are and full facilities they provide. They also come with varied sorts of themes that enchantment to successful Park Colonial professionals and yuppies.

After which, there are the mass-market condominiums mainly located in suburban areas and also include good communal facilities. Such condos normally have entry-level pricing to cater to many buyers who aspire to upgrade from public housing to private property.

Singapore has a novel function here. Underneath the mass market condominium category, there's a sub-set of condominiums called Executive Condominiums (EC). An EC is a hybrid of public and private housing launched by the government. They're priced decrease than private properties to cater to the affordability of these Singaporeans, in particular young professionals, who aspire for private housing however find costs of private property beyond their reach.