What are the hidden costs of owning a condo in Singapore?

1. apartments, there are several additional facilities available to justify its cost, such as; private swimming pools, tennis courts, gym and the presence of security guards on duty. Also, foreigners can purchase a condo, as there are no legal restrictions on foreigners for condo ownership. Thus anybody who is coming in Singapore for the living purpose will want to avail condos condos as their primary choice. Here we will focus on the most common hidden costs of owning a condo in Singapore in Singapore and how it compares to owning an HDB flat HDB flat, are as follows; What What hidden costs of hidden costs of owning a condo owning a condo in Singapore? in Singapore? are are the the condo The increasing day by day due to the massive economic growth and rising opportunities for work. In order to cater to this increasing population the real estate sector also expanding as per the scale. Now the properties in Singapore are not very expensive, alternatively, Singapore government introduced a unique solution for housing by the Housing and Development Board (HDB but this facility is only available for the citizens of Singapore. Now if you are new to this place migrated for job purpose then you can’t obtain an HDB flat flat as per government’s rules and regulations, but you can always avail a condo for sale condo for sale condo population of Singapore is Maintenance fees: Maintenance fees: You have to pay monthly maintenance charges for your condo’s management, and this is almost three times higher than the same for HDB units. Here the maintenance fees are determined by the private developers, which is dependent on how many people are in your condo condo; how large your flat is; the type of condo condo you live in, as for the luxury condos the maintenance costs are highest and the amenities that the building offers. This fee may increase as per the market value, so that can leave some major impact on your accounts. Also, there are some other factors covered under the maintenance charges, such as sewerage, connectivity status, etc. Thus before investing in condos should consider all these charges, so that you don’t miss any hidden charges for maintaining such fancy property. condo’s property HDB HDB), HDB in in Singapore Singapore. condos, you The basic attributes of a condo: The basic attributes of a condo: Insurance premiums: Insurance premiums: Condominiums or condo are inviting, smart and pleasant places to live in, so this is one of the most common types of a private estate in Singapore. In every condos s in Singapore in Singapore The insurance is very crucial in case of any unexpected incident happens, and as per the majority of expenses related to private properties, your home condominium

2. insurance policy may become more expensive as well. For example, for owning a 4 rooms HDB flat the transport expect you to already have a car, as you can expense a pretty big amount for purchasing the condo condo. So this will create an urge to purchase a car so that you can accomplish your everyday functions without any hazards. Therefore the transportation costs may become the highest hidden cost for owning a condo and you need to focus on this much before you go ahead to purchase a condo for sale for sale since developers usually condo condo in in Singapore Singapore. Conclusion: Conclusion: So apart from these aforementioned costs, there are some other hidden costs may be applicable for owning a condo for sale in Singapore sale in Singapore, such as the different utility bills. Now the additional cost is levied for maintaining the private properties due to the added amenities and privacy. Therefore if you are planning to purchase a condo finalizing you need to enquire all the charges applicable for maintenances and need to fix the budget accordingly with the purchasing maintenance charges. insurance premium may be as low as 51 Singapore dollars, but for the same size condo, you may need to pay about 3 times higher. So for owning a condo have to pay a few hundred dollars more in premiums annually. As most of the people can’t afford a condo their bank balance, so they need to go for a bank loan. Here along with the interest, some other charges may be levied by the bank which you need to be aware of. condo for condo, you condo directly from condo, before price and the Transportation costs: Transportation costs: The condos condos are not built in a housing complex, such as HDB HDB units, as the HDB flats HDB flats are usually established in areas close to public transportation and other amenities. While the condos more likely to be built in areas that are farther from amenities and public condos are