New launch Condos in Singapore
A condo or condominium is basically a form of housing tenure where a specified part of the property is owned individually. But irrespective of a house you’ll have to share the common facilities such as heating system, hallways and elevators. But the ownership of the exterior areas is awarded as per the legal right standing in regarded to the individual ownership.
The Charm of Living in a Condo
Owning a condo allows you to enjoy a number of benefits and luxuries of a fine home and other amenities such as increased affordability, ease of maintenance, enhanced security, etc… To know more about the advantages go through the listings briefed below-
Security- Condos offer doormen, locked or gated entries. The new launch condo in Singapore even provides security guards for the residents. Condos can prove out to be a major perk for you if security is a concern for you. Additionally, a new launch condo Singapore allows you to live in close proximity with other people; which can be regarded as the biggest advantages of living in a condo.
Amenities- Want a fitness center or a pool or a clubhouse? The condo communities offer a wide range of amenities to the residents, which could be out of reach for an average homeowner.
Affordability-Condos are often cheaper in comparison to single-family houses. If you are looking to own a home within a low affordability rate then a condominium is the best option for you.
Why are Condos in High Demand in Singapore?
Owning a Condo is a good investment-Those who like to keep themselves away from the headache associated with a rental house or apartment buying a condo could be the best option for them. The main problem associated with renting an apartment is that it feels like the hard earned money is being ‘thrown away’ in the form of rent, which effectively helps the landlord to buy another piece of property. On buying a condo, you’ll enjoy dual benefits that are enjoying the same amenities being the owner of the property.
Benefit of having more living space-Purchasing a condo is really a good option for the individuals who are looking forward to invest in a large piece of property but within budgeted rates. If you desire to purchase a 3,000 square foot home, you might not have enough funds for the same, but you can get a condo of the same space within the restricted budget. It is for this reason condos feature increased demand in Singapore.
Features of Condo Varieties in Singapore
Though there a number of new launch condo in Singapore, the popular ones can be categorized into three types. The listings briefed below provide a more detailed description of the categories-
Mass Market Condos-These condos are found in the suburbs of Singapore. Usually, the Mass market condos range from $600 psf. These types of condos feature the basic housing facilities. The facilities that are usually found in these condos include Jacuzzi, swimming pools, BBQ areas, gymnasium, 24-hour security and car parking area.
Mid-Market Condos-Often, the mid-market condos are located on prime districts’ fringes of Singapore. The Mid-market condos usually offer more facilities in comparison to the mass-market types. The additional facilities include squash and tennis courts, fitness corner, sauna, basement car parking area, function room, to name a few.
High-End Condos-The high-end condos are usually found in the prime districts of Singapore. Their price range starts from $1000 psf, depending on the facilities offered and their exclusivity. The facilities offered by the high-end condos are more than those offered by the mid-market condos. The amenities include a concierge service, sky gym and private lifts. A few of them even offer marina to for your yacht. One of the biggest advantages of owning these condos is that they are located near to major shopping centers and good schools.
Why It’s Wise to Invest in Condos?
Indeed, it’s always wise to invest in condos. There’re a number of reasons as to why you should choose to invest in a new launch condo in Singapore rather than renting a house or an apartment or investing in other forms of property. At the same time you need to keep in mind that condos are not always the best option for everyone. Thus, it’s wise to weigh the pros and the cons of the options you have with you and then make the final decision.