The real estate industry of Singapore is going through one of its most exciting times. A large number of residential, commercial and industrial properties are being developed across every turn and bend of this great city. Among these various types of properties, the residential properties seem to enjoy the maximum preference and priority over the others. These properties include full and semi-detached private homes, flats, apartments, and condominiums. There are also some high-end luxury homes that can only be afforded by the super-rich people in the city.
However, among the different residential properties mentioned here, condominiums appear to be the ideal residential properties for accommodation. Their demand is extremely high in Singapore making many investors to have an eye on them. Now, there are different types of condominiums to be found in the city-state of Singapore. This differentiation can be done in the form of size, location, prices, features, etc. It is important for a buyer to be aware of this differentiation before they put their money behind one of these properties.
The first of these condominium types comprise of the executive condominiums or the ECs in the city. These housing structures are developed by the Housing and Development Board of Singapore and are only available for purchase among the citizens of the city. Now, these condo units are the cheapest in the city, but there are some rules and regulations that apply to their purchase and use. They offer great facilities at economical prices, but the restrictions forbid many interest people from buying these properties.
The second group of condominiums comprises of the private budget condominiums like the NorthPark Residence developed by private developers. These condominiums offer a wide array of facilities to residents and can be purchased by anybody who can afford them. The price tags of these condo units are reasonable but vary from each other owing to a few important factors like location, size, interior designs, facilities within the complex, etc. The average prices of the condo units in complexes like the Panorama condo is not very high and considered reasonable for the facilities and features they offer. Moreover, they are also within the budget of an average person living in Singapore.
The third group of condominiums comprises of the high-end condo units and penthouse apartments. These condos offer the best of facilities that ensure that residents get to enjoy the best of luxury that the city has to offer. These properties accompany very expensive price tags, and can only be afforded by the super-rich people of Singapore, who do not mind shelling out the extravagant price tags on demand. These condominiums units are usually characterized by elegant interiors, extravagant features, luxury fittings, supreme locations, superlatively luxurious facilities, etc. These properties serve as the epitome of luxury living in Singapore.
Buying a residential property in Singapore is not an easy task, and requires a lot of effort and careful research. To make the right investments, it is important for a buyer to have proper knowledge about the different types of condominiums in the city. This will help in choosing the ideal condominium structure.