With more central area flats reaching the million-dollar mark (or at least around $800,000), there's reason to reconsider small or far-flung condo units. Whilst you could potentially get a small resale condo for around a million, does that compare to the spaciousness of a 5-room or bigger flat and one that might be in a central area to boot? You...
With more central area flats reaching the million-dollar mark , there's reason to reconsider small or far-flung condo units.
Contrast this to a million-dollar 3-bedder condo, where you find you'd have a much smaller footprint: There's also the standard Enhanced Housing Grant based on income, but since buyers of million-dollar flats are probably in higher income brackets, the amount they get may be negligible. If you really do have to use a cab or PHV, consider that the cost of commuting every day, for the next few years, can indirectly heighten the cost difference between a condo and a flat.
Note that there is a penalty if you sell in the first three years, in the form of the Seller Stamp Duty . This is a 12 per cent tax on the selling price in the first year, eight per cent on the second year, and four per cent on the third year — but paying the SSD beats being legally unable to sell at all.
Consider, for instance, the price movement of resale EM and jumbo flats, over a rough 10-year period : Perhaps this should be the case anyway, as HDB is meant for housing rather than investment; and that's something to take into account when making your decision.Condos typically come with maintenance fees of about $300 to $400 a month. This covers various costs, chief of which are the upkeep of the pools, tennis courts, BBQ areas, etc. This is much higher than the conservancy fees charged by town councils — even the biggest flats seldom pay above $100 a month.
On the other hand, an en-bloc can happen to your condo even if you don't want it. A typical example would be buying an old resale condo, and then facing an en-bloc within the first three years.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
5 spacious and luxurious new condo units you can still buy in 2024While most Singaporeans consider landed properties the cream of the crop, that's not always the case. When it comes to the highest-end luxury units, the combination of the view, plus the lavish interiors, can easily match that of some bungalows; and some of the penthouses or premium units are so huge, you don't really feel the lack of space (they..
Read more »
Best credit card promotions in Singapore (Aug to Sept 2024): Citibank, DBS, HSBC and MoreThis August, sign up for a credit card and you could walk away with a brand‑new all‑electric Mercedes-Benz EQB, a Cartier Santos-Dumont Watch — Large Model, Blue (worth $6,000), an Apple 11-inch iPad Air WiFi, 128GB (worth $899), a Sony PlayStation 5 SLIM Digital Edition (worth $669)…and the list goes on.
Read more »
August 2024: Where to eat in Singapore - a family guide to food and diningCraving some mouthwatering deals to elevate your family dining adventures this August? Your search ends here! We've scoured the scene to bring you the most tantalizing food promotions that will have your taste buds doing a happy dance and your wallets singing praises.
Read more »
Thailand’s ex-PM Thaksin gets royal pardon, says his lawyerHe was granted parole earlier in 2024.
Read more »
August 2024: Where to have fun in Singapore - a family guide to recreational activitiesAugust is bursting with excitement in Singapore, and we've got the ultimate family activity lineup to banish those boredom blues! From outdoor adventures to cultural escapades, there's something for every family member to enjoy.
Read more »
Moves to strengthen safety nets, support families predicted for NDR 2024: AnalystsPrime Minister Lawrence Wong will be delivering his first rally on Aug 18.
Read more »