Different Types Of Condominiums In Singapore
Condominiums in Singapore are classified into three different categories: (1) the mass market condos that are located in the suburbs; (2) the mid-market condos that ranges from $800 psf; (3) and the luxury condos or the high-end condos that are located in prestigious districts. Below is more detailed description of the three categories:
- Mass market condominiums – it is located in the suburbs such as Bishan, Choa Chu Kang, Jurong, and Tampines. This type of condo usually starts from $600 psf, and features basic facilities such as Jacuzzi, gymnasium, swimming pools, barbecue area, car park and 24-hour security.
- Mid-market condominiums – often located just on the border of the prime districts such as Upper Bukit Timah, Newton, East Coast, and Novena. This type of condo offers more facilities than those of the mass market condo. Additional amenities may include squash and tennis court, fitness corner, sauna, basement car park, and function rooms.
- Luxury or high-end condominiums – usually located in the prime districts such as district 9, 10, and 11. Prices range from $1,000 psf depending on the facilities and exclusivity. It features amenities in addition to those in the mid-market condo including concierge service, sky gym, private lifts as well as Marina where the yacht will dock. Condos that are included are Sentosa, Cove, and other condos that are located at the city center. They are near to shopping malls and prestigious malls.
How to define Singapore mass market condos, below are ways and factors that should definitely meet:
- Location – mass market condos has to be outside the prime district of 1, 4, 9, 10, and 11.
- Affordability – it is the key feature of mass market condos and it ranges from $500 to $2,000,000.
- Number of apartments – masses is the target of mass market category so the number of units must cater large amounts of household wherein the minimum unit is 100.
Defining mid-market condos:
- Location – it is situated in the outskirts of prime areas, which means that transport link to inner cities is decent.
- It is popular among professionals that work in the city.
Defining luxury market condos:
- It is within prime district of 9 and 10.
- Units are not more than 150 to maintain that exclusive factor.
- It has a concierge service.
- Units should have a minimum size of 200 square meters.
Upon knowing the different types of condos that are available, you will be able to make a wise choice on what to buy and which one will suit your specific needs.