In Singapore although private apartments are widely available, good apartments are not that easy to find. The difference between a private apartment and a condominium is the lack of facilities such as a gym, swimming pool, tennis courts etc. However some have added an average gym and swimming pool as improvements, but cannot compare to that of a condominium.
The government does segregate apartments from condominiums. However, the disparity is artificial, as apartments are smaller than condominiums.
Condominiums are equipped with more facilities than apartments.
In Singapore Residential property fall into 3 main categories:
• Private apartments
• Landed property
• HDB apartments
A foreigner in Singapore must understand to abide by the restrictions of ownership laid down by the government. Private apartments are usually free hold with leasehold of ninety nine to nine hundred and ninety nine years. Land in Singapore is scarce. Landed properties with large plots can be expected to be very high in price, especially those nearer to the city center.
Apartments and condos range from five hundred square feet to much as eight thousand square feet. These housing units are classified as strata-subdivided. A Management Corporation owns and manages the common areas. Hybrid housing that also comes under the arrangement of strata-subdivision is, cluster housing, strata-bungalows and townhouses. Clearly defined development guidelines govern each of these forms of accommodation.
Depending on the size, location and area, private apartments come with different price tags and can be found in varying sizes and designs. Apartments are more affordable and easy on the pocket, yet the rentals can range from S$5,000 to about S$55,000 a month.
The living /dining area is counted as a room. Therefore a four roomed flat will have a floor area in the range of ninety square meters and will comprise of living/dining room, the main bedroom with attached bathroom, and two other bedrooms, common bathroom, kitchen, service yard and store room which may be used as an extra room in an emergency.
There are Studio apartments which come in two sizes. These can accommodate either 1 or 2 members. Mainly designed for the convenience and safety of elderly senior citizens, these apartments feature non-slip tiled and level flooring throughout, equipped with support hand bars and pull cords that link to an alert system in emergencies.
Executive Condominiums are a mix between private condominiums and HDB apartments. These were created for young professional people who want something that’s better than the HDB, and cannot afford private condominiums. These are subsidized by the government and can only be purchased if certain criteria is met which is similar to those of HDB. These will convert automatically into no restrictions private properties after ten years of construction. They are not permitted to be sold during the first five years, and can only be after ten years to a foreigner from the time of construction.
An apartment can cost from S$1,000,000 to anything up to S$50.5 million.
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