Singapore’s property boom seems to be spilling over to
Malaysia and the government is taking measures to ease the situation. With the
enhanced development in Johor Bahru and its own strategic location, developers
and individuals are investing heavily in this region of Malaysia. Consequently,
there seems to be a new
property launch in JB on a regular basis.
Factors for Purchasing Singapore Condos
Buying a condo
in Singapore is not difficult if you have a good agent. Moreover, it is useful if
you consider certain factors; firstly, you should consider a realistic budget
for your home. Then start looking at probable neighbourhoods; some people
prefer modern amenities while others look for apartments in a good location.
Good transport facilities from the apartment building are important especially
if you are using more of the public transport system. Therefore, condominiums
close to bus stations and MRTs are at an advantage. Other requirements that
people look for are schools and hospitals, shopping malls or supermarkets. Car
parking is an amenity that most developers include with a condo. Consider the
tenure if it is leasehold property.
HDB Flat Owners’ Eligibility for Condos
If you are the owner of a HDB flat in Singapore and
you plan on buying private property in Singapore, there are certain conditions
that have to be fulfilled for eligibility. Flat owners should fulfill the MOP
for their apartment and also satisfy certain other conditions. If they have
stayed in their HDB for the requisite period, then they have to inform the
housing board of their intention of buying a private condo before the OTP is
exercised. Moreover, they should also
take the responsibility of selling their housing board home within 180 days of
acquiring the private property. However, if Singaporeans have purchased resale
flats without the use of the CPF grant, you are not required to satisfy the
MOP.
Freehold Properties
Generally, a freehold condo in Singapore is more
expensive than a leasehold property. In spite of the monstrous cost,
Singaporeans prefer freeholds. Since, this island country is very small, 80% of
the land is leased. Freeholds cost more even if the location, size and
amenities offered are the same as leased properties. In most cases, it can be
at least 10 to 15% more than a 99-year leasehold property. Another important
point to be considered is that if the government requires the land, your
freehold condo building can be acquired for which you will get the market
value. Hence, there is no need to put undue emphasis on this type of property.
Furthermore, you should realise that when it comes to rentals, your prospective
tenant would look only at location and not on the lease.
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describe the detail of Real estate agent singapore and New
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