There are several reasons why freehold condos are very much desired by many, both the locals and foreigners. Besides freehold, most people also consider 999 years leasehold to be equivalent. These properties are usually in the prime Central Area, East Coast and West Coast. While you can still find freehold properties in other parts of Singapore, they are mostly boutique apartments instead of the large-scale condominiums with extensive facilities and landscapes. Set your mind in getting a quality freehold condo,
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Purchasing A Freehold Condo
Advantages & Premium of Freehold Condos
Freehold condominiums certainly have their advantages. For example, owners of freehold condos need not worry about the running down of remaining lease as the development ages. Similarly, resale buyers will feel more confident with freehold properties and hence, don’t mind paying a premium for the freehold status. Many local and asians believe in holding on to their properties and passing them down to the next generation, making freehold condos a much preferred choice to many.
When is it crucial for a development to be freehold?
With the majority of the condos in Singapore being 99 year leasehold, it is certainly not a Must for a property to be freehold. However, we believe there are cases and scenarios that are important for the property to be freehold. For example, if you are buying a landed property in which the majority are freehold, it is crucial for you to go for the freehold ones as well. Also, if you are looking for very big units in the prime central area, valued at several million in dollars, the value may not uphold itself as well since it is relatively niche. Having said that, if it is for your enjoyment and you can well afford it without caring about its future value, why not?
But we really have to say this
While freehold condos certainly have their own advantages, the quality ones are really rare and always come with a large cost premium. So the question is, is freehold a must? Besides the tenure, there are also other important attributes such as the location, size, design, quality, developer and layouts of the developments. Hence, it is important to compare each condominium in a holistic manner. Sounds complicated? Let us help you!
Land a Freehold Condo with NewCondo
In land-scarce Singapore, it is extremely difficult to secure a quality freehold new condo since restrictions are increasing and new freehold large-scale condos are hard to come by. Visit our website for regular updates on the availability of existing and upcoming new freehold condo for sale in Singapore, so that you can secure a choice freehold condo with special early bird discounts and priority in unit selection