Buying a condo in Singapore

Condominiums or condos for short are housing units where the real estate is jointly owned by several individuals forming an association. A part of the unit usually in the form of an apartment is individually owned and the unit is provided with luxury features like security, swimming pool etc that are shared by all. Condos form the majority of residential housing in Singapore. They are either built by government owned Housing Development Board (HDB) without the luxury features called flats or by private firms like the glades condo with all the amenities.

Condos in Singapore can be taken on rent or fully owned. Information like location, area, cost, layout etc. on condos can be obtained online from several property related websites. There are many real estate agencies that deal with both renting and owning condos in Singapore. The cost of a condo depends on its location, size and the amenities provided. They also vary depending on the overall scenario of the economy. According to recent reports, property prices both of condos and HDB flats have fallen marginally in the last quarter of 2013 for the first time after many years.

Preferred location of condos includes proximity to the 3 main Mass Rapid Transit (MRT) lines of Singapore that would provide easy access to the condos from anywhere in the city. Also waterfront condos facing the sea are sold at a premium compared to other locations. Other preferences include Orchard Road which is the main shopping district of the city. Closeness to workplace in city’s business district is another preferred location by some even though the choice is limited and the cost prohibitive. The east coast district away from the hustle and bustle of the city offers peace and calm and is preferred by many expats living in Singapore. Glades condo at Tanah Merah offers luxury with superb location close to MRT interchange and Changi Business Park. Thus there is a wide choice of condos to choose from depending on your taste and needs while living in Singapore.