Investing in land and constructing a dream house in Singapore might seem like a dream for most of the people because of the scarcity of land. But owing a condo or an apartment is not difficult because there are many residential properties here. Private property is expensive and the owners have to take the burden of maintaining it. It is noticed that most of the Singaporeans live in flats because they can lead a sophisticated and safe life.
In the recent years a steep growth has been seen in the population of Singapore; this is because lots of foreigners are settling down here. They settle down in Singapore because of the opportunities and its fast bustling economy. Increase in population means rise in the demand of property. When you start looking for a house you will come across many type of property such as private apartments, landed private property and HDB flats. There are certain rules laid by the government of Singapore, especially when it comes to buying HDB flat and landed property. If you are planning to invest in Singapore real estate then it is important that you know about the different kinds of property.
Condo or apartments are usually freehold or leasehold property. They can also be called private apartments. They are in huge demand today because of the facilities the projects provide. Many new projects are being launched in Singapore and you can book a unit in any one of them, depending on the location and the facilities. Project like The Antares Condo has all the facilities like swimming pool, garden, indoor gym, barbeque area, clubhouse, Jacuzzi, tennis court, parking pool, and 24 hours security. These kinds of projects are usually built on large area, which means you must check the kind of connectivity it provides before investing in one. These projects have units of different size so that investors can buy a unit depending on their budget.
HDB flats are the most affordable ones and they are maintained by the Housing and Development Board of Singapore. These flats are given on lease and have all the basic amenities like park, schools, clinics, shops etc. They are located in such a place that getting around Singapore will not be difficult.
Bungalow, Terraced Houses, detached and semi detached houses come under landed property. Most of them are freehold properties and they are expensive. The price of these landed properties depends on their size and location. If it is in a prime location then the price will be higher than the one in an interior location.
Executive condos are bigger than HDB and there are certain restriction laid by the government when it comes to investing and selling them.