Confused about buying a private property in Singapore? This infographic summarises the ruling on the eligibility conditions, downpayment, stamp duty and financing criteria.
Here are the 6 types of private property in Singapore:
- Condominium vs. Apartments
The condominium is one of the most common types of private housing in Singapore. Compared to public housing, it is recognised by its provision of common facilities such as private swimming pools, tennis courts, gym and the presence of security guards on duty.
While the definition of a condominium is pretty similar to what an apartment estate consists of, the key difference lies in the total land area of a condominium development which needs to be at least 4,000 square metres or larger. There is also a lack of facilities(or less) compared to the condominium.
In terms of eligibility of purchase, there is little difference between the two and no restrictions on foreign ownership.
- Landed Properties
Landed property tenure is tied to the land title, thus the definition. Most landed properties are freehold although there are some 99 and 999-year leaseholds in the market as well.
- Bungalow – refers to a free standing landed house that is clearly separated from others without sharing any common wall or roof.
- Semi-detached House – refers to one of a pair of landed houses joined by a common wall.
- Terrace House – refers to a landed house in a row of three or more houses joined with a common wall, side by side to each other.
- Shophouse – refers to a unit in a typically two-to-four storey structure, attached to another unit of a similar structure and connected to the street by a covered walkway.
Buying Private Property In Singapore
Find out where we are in the Singapore Housing Cycle .
If you are curious on what to expect, the complicated rules, or wondering which type of property you should purchase, keep checking back on our Property section!Recommend0 recommendationsPublished in