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I have a follow on question on Philip's question on the classification of condo versus apartment. Does that mean if a developmenet has a site of 40,000 and above, it will be automatically classified as a condo? Reason for asking is that the site of Casa Merah looks huge, so I will be surprised that it is actually less than 40,000 sq ft. Also, are the differences in governance really that significant? Where can I read about this? Thanks!
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Kevin Yeow 饶国威
Replied
Hi Andy & All
URA is the definitive source as posted by Zhiwei.

To summarise:
Apartments are usually on site of < 44000sqft. Owners own strata titles. Some aparments may come with a small pool but that does not make it a condo. With effect from 19 July 2005, foreigners are eligible to buy apartment regardless of its height.

Condominium are in min land size of 44000sqft. Owners are susidiary proprietors and own Strata Title and Share Value of common area (defined as common property) - pay maintenance fee according to the share value. Condominium is compulsory to form a Management Corporation to up keep the common areas.

Hope this clarifies & summarises further. Read More
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  • CR
    Replied
    Thanks! It actually took me quite a while to read through the link to URA but I think I am still confused. I have yet to appreciate the difference between the governance, which I think if of paramount importance as a management corporation is instrumental to the proper upkeep of the property. So, I did a Google search and found several sites addressing this question but I found a link that explains it in the most user friendly manner:

    http://www.entersingapore.info/find-a-home/Buyers-Guide.php

    To me as a layman, I thought the difference is a lot especially considering the fact that one owns the common property and the other doesn't. All things being equal, shouldn't a condo worth more than an apartment? Happy to be further enlightened. Thanks Gurus!

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