A condominium is a term typically referring to a housing complex that consists of individual units. In Singapore, condominiums are often referred to as condos as well. Over the years, more and more people have been able to afford their own place, with many turning to homeownership as an investment for their future.
A 4-room condo in Singapore is a residential unit with four bedrooms and three bathrooms on average, with a single car park per floor. It’s bigger than an HDB flat with its bigger land area per unit – with a high ceiling from the 2nd level up. This type of condominium typically ranges from 1003 sq ft to 1050 sqft.
Four-bedroom condos are popular among many Singaporeans because it’s spacious, ranging from 1003-1131 square feet of floor area. There are smaller 1 or 2 bedrooms with limited amenities and facilities that can be too “basic” for some people who need more space – may want to have a living room, study room, maid’s room, etc. Having an own parking lot is also advantageous compared to the typical HDB flat, which only has a limited number of car park lots per block/floor. You can take this opportunity to buy a home at today’s value while you are still young but have your place with your 1st salary; 4-room condo in Singapore prices vary from $300,000 to $1.2 million.
A 4-room condo in Singapore is very popular as they offer Singaporeans lower property price points than private properties. Resale flats that have been sold this year include those in Marine Terrace, Teck Whye Lane, and Bishan Park. It is anticipated that the majority will be taken up by public housing occupants who are most likely to upgrade due to their proximity to amenities and mature estates.
Four-room condos in Singapore offer residents lower property price points compared with private properties. The surge of popularity for 4-room flats (or any other HDB resale flat) is easily explainable. They come at a lower price point. They also provide Singaporeans with better accessibility and quality of life, especially public housing tenants who plan to upgrade as they live near amenities and within mature estates such as Bishan or Marine Parade (locations where many resale flats were sold). As for renters, the number of HDB households renting has dropped from 7.6% in 2014 to 7.1% in the first half of 2020.
The decline can be linked to Singapore’s low rental prices compared with other countries. The average four-room HDB flat costs around $450 PSF, just about 5-10% of private properties’ rates. Other factors include greater access to amenities and better accessibility for tenants living near facilities or within mature estates. This has led many residents to opt for resale flats over renting, fueling the demand for 4-room condos in Singapore overall. A 4 room condo is a popular choice for many Singaporeans due to its large living space and reasonable price range.
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