Buy a Residential Condominium Property Instead Of Renting One

There are a number of differences between buying a condominium property and taking one on rent. Even though the type of property remains the same, there are significant differences in the quality of lifestyle led by the occupants. This is primarily due to the ownership features and aspects that get involved. The difference in the ownership rights causes minor changes to the usability of the property, and in turn, causes a significant impact on the way occupants live their lives in such residences.

When you buy a residential condominium unit in Singapore, you are the owner of the unit. Now, you do not become the owner of the entire building or complex in which the condo unit is located, but only the unit you have paid for. The condo units located next to your walls are bought by some other people, and hence, are owned by others. Hence, all the owners of the condo units in the building and complex become joint owners of the entire property. Everyone has the right to pass their opinion in regards to any developmental activities taking place in the condominium complex, and all decisions are taken while keeping the benefit of every individual in mind.

Moreover, when you buy a residential condo unit in complexes like the North Park Residences Singapore, you are entitled to a number of tax benefits. These benefits are offered by the government of Singapore, and are of tremendous help to condo buyers as they help them to save significant sums of money. Now, if you are renting a condominium property in order to accommodate your family, you are not eligible to these tax benefits offered by the government. Moreover, the amount of money that you pay as rent helps to aid the owner of the condo unit to pay off the mortgage installments. Hence, in an indirect note, you pay for the residential property, but you do not get to enjoy the ownership of the property.

Hence, it is always best to purchase a residential condominium property rather than renting one. You can always check out a new launch condominium Yishun or other areas of the city, and purchase one that suits your needs and requirements. In case you do not have the money to afford one, you can always obtain a loan to finance the purchase. There are numerous private funding groups and banks that offer great loan schemes to help people afford the homes of their dreams.

Popularity of Condominiums Have Risen Significantly In Singapore

The city-state of Singapore is home to some of the most beautiful condominium properties in the world. Even though the city has been a late entrant in the industry of condominium development, it has made significant advancements of late (particularly in the last decade or two), and has become a force to reckon with. Today, condo units appear to be the most popular housing choice for most of the population, and constitute a major portion of all housing structures in the city. There are a number of reasons that contribute to the widespread popularity of condominiums as the most preferred housing structures.

• Scarcity of open land spaces: The availability of free land spaces has dwindled significantly over the course of the last decade. Open spaces of land in the city are hard to come by, and even if one is able to come across a piece of land, the price is beyond affordability. Hence, the common people of the city are forced to live in rented homes. Condominiums offer the perfect solution to this rising issue as a large number of families can be housed over a considerably smaller piece of land surface.
• Condominiums are cheaper than private homes: Due to the scarcity of free land surface in the city, landed and private detached and semi-detached homes accompany very high price tags. On the contrary, condominium developments like the North Park Residences Yishun Central offer cheaper alternatives. The average price of condominium units in the city is about one-third of that of the private homes. Hence, it is easier to purchase condo units than to purchase private single-family homes.
• Multiple facilities on offer: By living in condominiums, the residents would be able to enjoy a number of facilities and amenities that are not easily obtainable with private houses. Hence, condominium developments in the city serve as great attractions for the people of the city as they are able to offer a much higher and better quality of lifestyle, and that too, at cheaper expenses.

Another important factor that has had a significant impact on the residential sector of the city is the large number of condominium developments that have been constructed in various parts of the city. There have been multiple new launch condominium Yishun and others areas of the city, and this has offered a large number of choices to the people of the city. This has been one of the most prominent reasons behind the widespread popularity of condominiums in Singapore.

Investment in condos of north park residences Singapore for great returns

 

In recent years, the real estate market of Singapore has witnessed a great boom, causing the prices of residential properties to go up tremendously. This has, in turn, bolstered the economy of the country by a big margin. The upward trend in the economy has paved way for lenient regulations in regards to property acquisitions by people of the country as well as foreign investors. Today, even people who are not residents of Singapore can invest and own top properties in the country.

Now, residential condominiums appear to be the primary targets for foreigners looking to make an investment on a real estate property in the country. There are, however, a few rules that apply to foreign investors interested in residential condominiums in Singapore, and by following these rules, residential condos can also be owned by foreigners in the country. This has helped a large number of foreigners, who work in companies or offices based in Singapore, to avoid living in rental apartments and live in their own homes. The prices of the properties, however, are pretty high, and hence, one must be willing to shell out a good amount of money in order to own the perfect condominium in Singapore.

Now, it is true that Singapore has witnessed a significant rise in property prices in recent years, but this is mostly due to the gradually rising economy of the country. Hence, it would cost a foreign investor almost as much money to own a residential condominium in north park residences Singapore as much as it would cost a local resident. This is greatly helpful to foreign investors as they do not have to pay much extra money to acquire homes in the country. Given the high prices of the residential properties in Singapore, any added expense would certainly prove to be a burden on investors looking to purchase the residential condos.

There is, however, a need to make a lot of arrangements before an investment can be made in a residential condominium in Singapore. Investors need to carefully plan the investment if they are to realize their hopes of making any profits on their investments on the residential condominiums of north park residences Yishun central. The real estate industry of Singapore, as rewarding as it is, can also be very tricky, and one small step in the wrong direction can often lead to heavy losses.

North Park Residences- Wonderful Lifestyle Awaits

North Park Residences Singapore is a newly launched 99 years leasehold condominium in Singapore located at District 27 in Yishun Central. The project is spread over 442234sqft area of land and it will have 920 units, divided into tall towers, which means there will be a lot of open space and greenery. The project location makes North park all the more special. Yishun MRT station is located right beside the project site which means you can travel easily to any part of Singapore. If you are looking for some entertainment or planning for shopping during the weekend with family and friends then you are try Northpoint Center and Yishun 10 which is just a short walk away.

This new launch condominium Yishun has some unique facilities which includes clubhouse, tennis court, children’s play area, guard room, indoor gym, wading pool, splash pool, family pool, BBQ area, play fountain, Jacuzzi, hydro spa etc to help you lead a sophisticated and comfortable lifestyle. The construction of the project is flawless because it has been handed over to a renowned developer, Frasers Centrepoint Homes.

The project has units of different size and you can buy one that fits in your budget. There are 1, 2, 3, 4, and 5 bedroom units. As per the plan of the project the units have typically 2 types of facing. Some units face Yishun central and Avenue where as the other get unblock view. If you are looking for a unit with unblock view then you will have to invest in units above the 6th floor.

The project provides seamless connectivity. You can access and reach any part of Singapore by taking a bus from the Yishun Central Bus Interchange. Yishun MRT station is also very close to the project location. North Park is located beside Central Expressway and because of the job opportunity and to save travelling time, new expressway North-South is being constructed.

North Park Residences- 10 Features Which Makes It Special

Planning to buy a house in Singapore? There are many kinds of property in Singapore starting from condo to private house. You can invest in anyone of them but North Park is special in itself.  Thinking why then read on.

1. North Park Residences Yishun Central, is one of the recent new launch condominium projects in Singapore developed by Fasers Centerpoint Limited, a renowned company in the real estate world.
2. This residential project is spread over 442234 sqft area and it has units of different size. Buyers can tailor make and invest in the project because the price of each unit depends on its size.
3. The project has 920 units and you can invest in residential units from one to five bedroom flats, Penthouse, studio, or apartments with dual keys.
4. North Park offers car parking facility to both residents and visitors. They have separate area for residential and commercial use.
5. All modern amenities have been included in the project. There are football fields and pools where you can enjoy. This urban paradise also has open lawn, water cabana, clubhouse, lap pool, park villa, cabana garden, gym, hot spa, open lawn, aqua gym etc.
6. North Park, new launch condominium Yishun provides seamless connectivity. Pathway or and link ways connects Yishun MRT Station, Public library and Town Garden, which means you can simply walk down or take a bicycle ride to these destinations. Two covered barrier free bridges connect Yishun Avenue and Town Center.
7. There is a bus interchange at the door step of North Park and the project promotes cycling. Along with a cycling network the project has an additional sheltered area for parking bicycles. You can access MTR stations, nearby towns and amenities through the cycling route.
8. Food lovers can enjoy a wide variety of delicious dishes, both from local and international cuisine at NorthPoint City.
9. NorthPoint City is also a perfect shopping destination. There are about 500 retail store where you can shop for yourself and other loved ones.
10. NorthPoint City also has places where you can chill out with friends and family. There are coffee joints and playground for kids.