In the past few years and up-to-date, the number of high rise buildings and towering skyscrapers has been filling up the airspace of Singapore pretty quickly. And this happens for a reason – Singapore is limited in terms of physical land and livable parcels. Hence, the birth of condominiums has been slowly feeding the hungry desire of many urbanites to acquire a place they can call their own. Contemporary, practical, convenient and economical; indeed, there are many advantages of living in condo Singapore.
Popular amongst young professionals, starting out couples and working class citizen, condominiums has been dubbed as the epitome of modern day living. Although in-demand and definitely more affordable than landed properties, still there are those not convinced with the practicality of condominiums. To clear all your worries and hesitations away, check out these amazing benefits not seen elsewhere but only on condominiums.
10 Advantages of Living in Condominium
1. Guaranteed Safety and Security
If safety and security are your main concerns, condominiums will never fail you. Most if not all condominiums are equipped with surveillance cameras, gated facilities, lobby guard, roving personnel and 24/7 security guards that can guarantee not just your safety but the overall security of the building as well. As an added security measure, visitors are also required to present valid IDs before entering the premise. If you want to feel safe and secured all the time, living in a condo will give you a peace of mind.
2. Smartly Located on Prime Areas
Most condominiums are strategically located on prime highly urbanized areas. Although this might not be true for all condos, some are cleverly situated on fringe locations very near the city. With its prime location, condominiums are highly accessible to places of work, financial institutions, schools, recreational centers, shopping malls, places of worship, hospitals and all others. Now you don’t need to travel far just to fetch your daily essentials because everything can be accessed within few minutes.
3. Close Proximity to Public Transport
There are many advantages of living in condo Singapore, one of which is the close proximity of the building to public transport system. Most developments are located right next to MRT stations with major roads and bus stations nearby. The easy access to public transport and major expressways provide future tenants a convenient way to travel across Singapore without much of a hassle. Whether you are a commuter or car owner, condominiums certainly offer seamless connectivity.
4. Premier Facilities at a Fraction of Its Cost
One of the greatest benefits of living in condo Singapore is having premier facilities without burning holes in your pockets. With condos you don’t need to spend a fortune just to have a swimming pool, sauna, gym, well-maintained garden, lounge area, BBQ pits or even function rooms build right next to your home. Although these are shared facilities, they are exclusive only to the residents of the building. Even more, you don’t need to pay any entrance fee or monthly memberships just to use these facilities.
5. Breathtaking View Offered at its Best
Another unique feature of condominiums not seen elsewhere, except for high-end landed properties, is the majestic view of its backdrop. Depending on the location, condos offer various sceneries ranging from the flickering lights of city skyline, relaxing greenery of nature parks, or breathtaking ambiance of the nearby water body. If you want to wake up every day fronting a nice view, nothing can beat condominiums. Though, keep in mind that condos directly located near major attractions often fetch a higher price tag than those that are not.
6. Lowered Utility and Maintenance Fees
Condos are notoriously known for being small. Albeit limited in terms of size, smaller space means lesser consumption. From furnishing to cleaning, down to paying monthly utilities – it is relatively cheaper to maintain condominiums. With condos you don’t need to maintain the roof, you don’t need to clean huge spaces, you have smaller area to cool during summer, you have less rooms to lit up, you need fewer furniture, and best of all you will spend less in terms electricity and water bills.
7. More Affordable than Landed Properties
Continuing on the advantages of living in condo Singapore, condominiums are obviously more affordable than landed properties. Remember that on condos, you are just buying the living space or what they call “air space” that is why they are priced more reasonable than any other property. With the rising cost of landed homes may it be cluster or semi-Ds, opting for a condo is a wiser move especially if you don’t have tons of cash to burn.
8. High Investment Potentials
Condos that are situated on prime areas are guaranteed to yield high resale value making all your effort and every penny truly worth it. It is true that compare to landed properties, condominiums appreciate in price slowly. But there’s always exception to the rule, especially if there are few condos for sale in a sought-after area. With highly in-demand condos, you as the owner can raise the selling price according to the market’s demand making your property a valuable asset.
9. Option for Passive Income
Further advantages of living in condominium is that if you don’t want to sell your property due to slow market appreciation, you could instead put it in a rental program. For those who wants to make a passive income out of it, you have an option to rent out your unit. This is a common practice to many Singaporeans, they choose to capitalize on rental program than wait for the unit’s value to go up. Additionally, renting out your condo is yet another way to expedite ROI.
10. Various Layouts to Choose From
The others benefits of living in condo Singapore are flexibility and variety. Variety because there are different layouts to choose from. Depending on your needs and wants you can opt for studio units, 1-4 bedrooms, loft, dual-key flats, etc. Flexibility in the sense that there’s a wide selection of condo amenities you can avail. There are condominiums that feature concierge services, direct access to shopping malls, 24/7 restaurant, linked hotel rooms, membership discounts and all others.
There’s a reason why condominiums are popular to new generation dwellers and young professionals. Aside from condo’s affordability, security measures, convenience, modern structures and ease of maintenance, the option to generate income out from it likewise possible. However, keep in mind that location is the key towards a successful condo investment. But for those who would be using it for sole residential purposes, they can choose any location they want.
Indeed, there are many advantages of living in condo Singapore. Although you don’t technically own any land space, the ease and convenience of modern living is without doubt favorable. Despite its infamously known drawbacks, condos wouldn’t be popular if people don’t find it worthy.