4 Answers

YT Tan (陈永达)
Good morning HJ,

The main difference is the land size of the development. To be eligible under condo status, the development must be at least approx 43,000 sqft. If not it will usually classified as apartment.

But nowadays there are not much difference between both of them cause apartment will have most facilities offered by condo just probably there's no tennis court.

As for the valuations, it really depends. I usually obtain fair valuation from various banks, some might want to obtain the highest valuation in order to show that their units might be a value buy.

For instance:

market valuation: $1m
highest valuation: $1.1m

Like that its about 10% below valuation.

I noticed you are looking at properties in core central region and I have been helping my clients and friends to check out CCR as well. Perhaps we can meet up over a cup of coffee to discuss and explore your options and see option suits you the most.

Hear from you soon!

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YT TAN 陈永达 | ACCA Graduate, RES
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Propnex Realty Pte Ltd
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Geryl Lim
Hi HJ,

There is no regulations indicating is the below valuation listed in reference to highest or lowest indicative valuation obtained.

I suppose it is in your interest to do your due diligence prior to decision making.

Tenants can visit http://bit.ly/SGExpatRental (Official Rental Requirements - Singapore Expatriates) to indicate your rental requirements.

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Robbie Chen Chee Howe
Hi HJ,

The key difference between condo and apartment status is the land size of the development. For a development to be granted "condo status", it will need to meet certain requirements, with one important requirement that the land size be above 43,000sqft. There are other criteria to meet, all of which will determine if this development is to be of condo status.

As for Valuation, this is an art, not rocket science. There is no fixed valuation. Valuation can differ from different valuers, it is best you can get the opinions from a few valuers from the bank before any purchase.

Having said that, you should really consider carefully before choosing an apartment over a condo. Afterall, what you're paying are not only within the limits of the particular unit. The price you pay includes the land that the development is sitting on. Paying for a condo with huge land size with full amenities is often preferred over buying a small development with little or few amenities.

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305. I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
9748 6305
PropNex Realty
Daniel Tan
Hello HJ!

Good day to you!
I’m Daniel Tan from Huttons.

The land size of the development will make the difference between condo and apartment status. A land size of 43,000 sqft or more will deem the development to be condominium.

Condo or apartment will not really affect the development, as there are many mixed development (residential above commerial) are classified as apartment. However those projects also enjoy full condominium facilities.

Whereas for vaulation, different valuer will provide with different valuation. However the most important is the valuation which the one bank take reference to, as this will affect the loan amount.

Any other queries?
Please always feel free to contact me for a non-obligated discussion on how I can assist you with your real estate needs.

Have a great day ahead.

Best Regards

Daniel Tan
Huttons Asia Pte Ltd
(+65) 94775100
daniel.tck@outlook.com