Choose the Right Commonwealth Towers Condominium Singapore
A Commonwealth Towers Condominium Singapore or ‘condominium’ in summary, is a intricate endeavor in which individuals units are offered. When you purchase a unit in a condominium, you’ve got individual ownership of everything within the walls of this unit.A condo is one of the most common kinds of housing in Singapore. However, not all condominiums in Singapore are the same. There is a wide assortment of options available to cater to different market segments of buyers. At the high end, there is the luxury category of condominiums that cater to individuals with very deep pockets. Normally these are located in the prime districts of Singapore, in areas like Orchard Road, Keppel Bay and Sentosa. They appeal to highly sophisticated and discerning buyers that aren’t merely looking to buy a home but exclusive lifestyle concepts that befit their standing.
Developers of luxury condos spare no efforts to make sure the homeowners may enjoy the best quality concerning finishing, fittings and fixtures. Facilities and amenities are also top-end. Recently some even engage the help of well-known architects to create distinctive architectural layouts and themes which bring up the uniqueness of the endeavors.
Then you will find condos belonging to the mid-tier range. These jobs are popular because of their close proximity to town center where the business and entertainment hubs have been and full facilities they supply. And then you will find the mass-market condos mainly situated in suburban areas and also come with good communal facilities. Such condos usually have entry-level pricing to cater to many buyers who aspire to upgrade in public housing into private property.
Singapore has a exceptional feature here. Under the mass market condominium class, there’s a sub-set of condominiums called Executive Condominiums (EC). An EC is just a hybrid of public and private housing released by the authorities. They are priced lower than personal properties to cater to the affordability of the Singaporeans, particularly young professionals, who aspire for private housing but find prices of private property beyond their reach.
However there are certain rules and restrictions governing the ECs, like a 5-year minimum occupancy period by the owner before they are allowed to market it from the resale market. And they could just sell to foreigners after 10 years. Knowing the various categories of condominiums in Singapore will allow you to restrict your search to your condo home that suits you most. You won’t have to waste time considering those projects which don’t meet your requirements. If you’re looking to buy a new condominium, then it is usually easy to tell which category it belongs to with its designated location and the way in which the developer advertise the project.
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