Buying a Condo in Singapore – An Expert’s Fact Sheet
A condominium in Singapore can range between S$ 1,358,000 and S$ 2,999,000 depending on several factors. The variables of price, location, size and facilities are some of the critical determinants. Lately, there has been a surge of interest in condos that are located within some of the most popular residential places such as Lorong 3 Toa Payoh, Alexandria Road, Elias Road, West Coast Park and Robin Residences are highly likely to cost higher than condos in less popular areas. Fully furnished condos fetch higher prices than partially furnished units. Some of the upscale residential estates that determine the pricing trend include Park Natura, Trevista, Riversound Residence, Sophia Hills, The Cascadia and many others.
The size of a condo in Singapore determines its cost. A three bedroom condo that measures 1,200 square feet costs around S$ 1,600,000. Such a unit is usually partially furnished and features some basic facilities that are expected of a condo within its price range. However, a different three bedroom condo that measures about 1600 square feet is likely to be priced around S$ 1,780,000. The cost may inch towards S$ 1,800,000 if the condo features extra enhancements and modest enhancements. A partially furnished two bedroom condo that measures over 800 square feet may cost over S$ 1,358,000. In some cases, the age of the unit and the kind of improvements are considered when setting the price of a Singapore condo.
Facilities that Determine Cost
The cost of a Singapore condo is largely determined by the kind of facilities that it features. The most expensive condo will include a vast range of facilities that include a clubhouse, lap pool, swimming pool, Jacuzzi, pavilion, tennis courts and outdoor exercise stations. Other condos in upscale areas such as Park Nutra and 183 Longhaus may include facilities such as landscape gardens, sun deck, private lifts for a select few and yoga pavilions. The number and nature of facilities are important determinants of the cost of the condominiums.
Singaporean condos are also priced according to their proximity to crucial amenities. Some of the amenities that buyers look for include food courts, supermarkets, banks, clinics, schools, eateries and libraries. Naturally, buyers will choose condos that offer them some level of logistical advantage with regard to distance. Access to major highways, railroads and highways also determines the cost of the condos. Such a natural trend in the preferences is likely to increase the cost of condos because of the rise in demand. The forces of demand and supply have always factored in the determination of the cost of the condos in Singapore’s favorite residential estates.