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Ultimate Guide To Buy A Condo In Singapore [2024]

Buy Condo Singapore

Best Buy Condo Singapore
Best Buy Condo Singapore

Welcome to our Ultimate Guide to Buy a Condo in Singapore. This comprehensive guide is designed to help you navigate the exciting yet sometimes complex process of finding your dream condo.

The best condo to buy in Singapore are The Interlace, The Atelier Condo @ Newton, The Sail @ Marina Bay, Wallich Residence, and Midtown Moder.

Whether you’re considering a resale condo with its charm and established community, or a shiny new freehold condo with all the modern amenities, the condo market in Singapore has a myriad of choices to offer.

Each condo for sale boasts unique unit features, from stunning city views to luxurious fixtures and fittings, designed to cater to different lifestyle needs.

So, strap in as we take you through the journey of finding the perfect condo unit in Singapore for you.

Quick Summary

  • Best condo to buy in Singapore are The Interlace, The Atelier Condo @ Newton, The Sail @ Marina Bay, Wallich Residence, and Midtown Moder.
  • A key consideration when buying a condo in Singapore is the property’s location in relation to amenities, its potential for capital appreciation, and the reputation of the developer.
  • When buying a condo in Singapore, it’s crucial to evaluate both the property’s proximity to essential amenities and the potential for its value to appreciate over time.

Key Considerations

  • Location: Proximity to schools, workplaces, and essential amenities is crucial.
  • Development Reputation: Research on the developer’s track record for quality and on-time completion.
  • Property Age: Older condos may require more maintenance, while newer ones could offer more amenities.
  • Unit Size: Singapore condos vary in size; understanding your space needs is crucial.
  • Price: Beyond the purchase price, consider ongoing costs such as maintenance fees and property taxes.
  • Future Development Plans: Neighborhoods with upcoming infrastructure developments may see property value increases.
  • Leasehold or Freehold: Leasehold properties are usually cheaper, but freehold ones guarantee ownership for a longer term.
  • Connectivity: Access to public transportation such as the MRT and bus networks.
  • Resale Potential: Consider the potential resale value and demand for the condo.

Eligibility when Buying a Condo in Singapore

  • Nationality: Singaporeans, Permanent Residents, and Foreigners can all buy condos in Singapore. However, there are restrictions on the type of property foreigners can buy.
  • Minimum Age: Prospective buyers must be at least 21 years old. If under 21, a legal guardian must be appointed.
  • Financial Capacity: Buyers should have a stable income and the ability to afford the down payment and monthly mortgage repayments.
  • Housing Development Board (HDB) Regulation: If you currently own an HDB flat, there are certain conditions and minimum occupancy periods to be met before you can buy a private property.
  • Additional Buyer’s Stamp Duty (ABSD): For Singapore citizens and Permanent Residents buying their second or subsequent property, or for foreigners buying any property, the ABSD applies.
  • Total Debt Servicing Ratio (TDSR): This has to be less than 60% of your gross monthly income. The TDSR includes all your debt obligations, including education loans, car loans, credit card debts, and more.

Best Condo to Buy in Singapore

1. The Interlace

The Interlace - Luxury Condo Singapore (Credit: The Interlace)
The Interlace – Luxury Condo Singapore (Credit: The Interlace)
Key FeaturesProvides functional and aesthetically pleasing living spaces
Address180 Depot Rd, #01-02 The Interlace, Singapore 109684
Websitehttps://www.lushhomemedia.com/
Phone+6567342481

The Interlace presents a one-of-a-kind and ambitious residential development in Singapore, crafted to seamlessly blend living spaces with social environments. With its interconnected network of living spaces and an array of amenities such as retail shops, fitness corners, and study rooms, it offers a convenient and versatile lifestyle. Moreover, its strategic proximity to MRT stations and accessibility via bus routes ensures easy access to public schools.

2. The Atelier Condo @ Newton

The Atelier Condo @ Newton - Luxury Condo Singapore (Credit: The Atelier Condo @ Newton)
The Atelier Condo @ Newton – Luxury Condo Singapore (Credit: The Atelier Condo @ Newton)
Key FeaturesProvides functional and aesthetically pleasing living spaces
AddressKg Java Rd, Singapore 228588
Websitehttps://theateliercondo.com.sg/
Phone+65 6100 1908
Emailsales@theateliercondo.com.sg
Operating HoursSaturday and Sunday: Open 24 hours

The Atelier Condo, nestled on the outskirts of the city, offers a harmonious blend of accessibility and tranquility. Boasting contemporary architecture and exquisite craftsmanship, it presents residents with both functional and visually captivating living spaces. With an array of amenities including concierge services, a state-of-the-art gym, a lap pool, and billiard rooms, this condominium provides an exceptional living experience. Moreover, its prime location near United Square, Novena Square, Newton Food Centre, and the Orchard Shopping Belt makes it the perfect choice for discerning urban families seeking convenience and unparalleled comfort.

3. The Sail @ Marina Bay

The Sail @ Marina Bay - Luxury Condo Singapore (Credit: The Sail @ Marina Bay)
The Sail @ Marina Bay – Luxury Condo Singapore (Credit: The Sail @ Marina Bay)
Key FeaturesWith easy access to Marina Bay Sands and One Marina Boulevard, this 5-star residence offers lavish and exclusive living
Address4 Marina Blvd, Singapore 018987
Websitehttps://thesailmarinabay.com/

Nestled in the most scenic district of Singapore, The Sail @ Marina Bay sets the stage for luxurious residential living. Boasting unrivaled access to Marina Bay Sands and One Marina Boulevard, this exquisite development offers a 5-star experience like no other. With opulent furnishings, an array of serviced apartments, resort-style amenities, and a prime city center location, it presents an unparalleled choice for those seeking a life of utmost luxury and convenience.

4. Wallich Residence

Wallich Residence - Luxury Condo Singapore (Credit: Wallich Residence)
Wallich Residence – Luxury Condo Singapore (Credit: Wallich Residence)
Key FeaturesOffers breathtaking city skyline views and luxurious amenities such as a Sky Garden and infinity pool
Address3 Wallich St, Singapore
Websitehttps://wallichresidence.com.sg/
Phone+65 6225 9000
Emailenquiry@guocoland.com.sg
Operating HoursOpen 24 hours

Wallich Residence is a prestigious condominium in Singapore, boasting 64 storeys and offering breathtaking city skyline views. With luxurious amenities like a Sky Garden, infinity pool, gym, and more, residents can indulge in a high-end lifestyle. Conveniently located near Tanjong Pagar MRT station and surrounded by schools, it’s the perfect place to call home.

5. Midtown Modern

Midtown Modern - Luxury Condo Singapore (Credit: Midtown Modern)
Midtown Modern – Luxury Condo Singapore (Credit: Midtown Modern)
Key FeaturesBoasts lush landscaping, lap pools, jacuzzis, a gym, and a private library
Address16 Tan Quee Lan St, Singapore 188144
Websitehttps://www.themidtownmodern.com/
Phone+6565898110
Emailsales@themidtownmodern.com
Operating HoursMonday to Sunday: 10:00 am to 6:00 pm

Midtown Modern, a forthcoming residential development in Singapore’s prime district, offers a distinctive business-residential hub that seamlessly blends work and play. With its proximity to the vibrant arts scene, residents can indulge in exhibitions and cultural sites. Featuring resort-inspired living, the condo showcases lush landscaping, lap pools, jacuzzis, a gym, and a private library. With excellent connectivity to various parts of Singapore and nearby schools, Midtown Modern is the perfect choice for urban living.

Costs when Buying a Condo in Singapore

  • Down Payment: Typically, you will need to pay at least 5% of the purchase price in cash, and 20% can be paid using either cash or CPF funds. The remaining 75% can be financed through a bank loan.
  • Stamp Duty: This includes the Buyer’s Stamp Duty, which is tiered, and Additional Buyer’s Stamp Duty, which varies depending on the buyer’s citizenship and number of properties owned.
  • Legal Fees: These cover the cost for the conveyancing process, which transfers the property from the seller to the buyer. Legal fees can range from S$2,500 to S$3,000.
  • Home Insurance: This protect your home against damages or loss due to unforeseen circumstances. The cost varies depending on the coverage.
  • Property Tax: This is an annual tax that owners need to pay, and it is based on the annual value of the property.
  • Maintenance Fees: These are monthly costs for the upkeep of communal areas and facilities within the condominium.
  • Loan Interest: This is the interest charged by the bank for the housing loan. It can be based on SIBOR rates or the bank’s internal board rate.
  • Agent Commission: If a property agent is engaged, their fees need to be considered. The typical agent commission is 1% of the purchase price.

Buy Condo Singapore

Buying a condo in Singapore is a significant financial decision that requires careful planning and consideration. Various factors contribute to the choice of your dream home, from the location and amenities offered by the condo to the overall aesthetic and ambience of the residence.

Whether you opt for a brand-new condo or prefer resale condos for their unique charm and established communities, remember that your choice should cater to your lifestyle needs and financial capacity. The condo market in Singapore is diverse and vibrant, offering a myriad of options to find your dream home. Happy house hunting!

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Frequently Asked Questions

If you have any questions about Buy Condo Singapore, you can refer to the frequently asked questions (FAQ) about the Best Condo to buy in Singapore below:

What are the best condo to buy in Singapore?

The best condo to buy in Singapore are The Interlace, The Atelier Condo @ Newton, The Sail @ Marina Bay, Wallich Residence, and Midtown Moder.

Is it worth buying condo in Singapore?

Should I Invest in a Condo? Overall, investing in a condo in Singapore can be a good choice for those looking for a low-maintenance rental property with potential for capital appreciation. However, the high cost and limited control may not be suitable for everyone.

Can a foreigner buy a condo in Singapore?

Under the Residential Property Act (Chapter 274) of the Singapore Law, foreigners are eligible to buy a condominium in Singapore.

What is the requirement to buy a condo in Singapore?

For condominiums, you will need to put down an option fee of 1% of the purchase price, secure financing and pay the remaining option fee of 4% within a month. After this, you will need to pay the downpayment of 25%. For foreigners, you will need to pay the downpayment in cash.

How much income do you need to own a condo in Singapore?

The estimated monthly income you need to buy a new condo
Market segment Average price Estimated monthly household income
CCR S$2.22m S$14,451
RCR S$1.75m S$11,393
OCR S$1.38m S$8,984

Are there condos for sale in Singapore within walking distance to MRT stations?

Yes, many condos for sale in Singapore are conveniently located within walking distance to MRT stations. This provides residents with easy access to public transportation, making commuting to work or other parts of Singapore more convenient.

What are some upcoming new launches of condos in Singapore?

There are several new launches of condos scheduled in Singapore. These new developments often come with modern designs and state-of-the-art facilities. For the most updated information, it’s best to check with local real estate agencies or official condominium websites.

Where can I find listings for condos for sale in Singapore?

You can find listings for condos for sale in Singapore on various property listing websites, real estate agencies, and sometimes, on the condominium’s official website. These listings provide detailed information about the condo, including its location, price, size, and amenities.

How does the rent compare between older condos and new launches in Singapore?

The rent for new launches may be higher compared to older condos due to newer facilities and more modern designs. However, location and size also significantly impact rental prices. It’s recommended to compare several options before deciding.

Can I find condos for sale in Singapore that are near popular amenities?

Absolutely, many condos in Singapore are strategically located near popular amenities such as shopping malls, parks, and schools. This provides a convenient lifestyle for the residents and can also contribute to higher resell values in the future.

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