freehold Condo For Sale

Freehold Tenure in General.

In Singapore, property ownership mainly comprises of freehold estates, leasehold estates, and estates in perpetuity. "Freehold Condo For Sale" are referring to the "Life Time Ownership" tenure. 

Fee Simple (equivalent to Freehold)

There are two main types of freehold estates. The first is the fee simple. A property owner who owns a fee simple in land, owns the property indefinitely, without the need to pay any rent, and upon his death, the property passes onto his successors.

Freehold Estate

The second freehold estate is the life estate, which is much rarer, and confers ownership for the duration of the person’s lifetime. 

Leasehold Tenure

Leasehold estates are mainly granted in terms of 999-year leases, or 99-year leases. The land belongs to the State, which leases the property to the leasee, for a fee, in exchange for exclusive possession and use, subject to certain conditions and covenants.

999 Years Leasehold Condo For Sale

In Singapore context, 999 Years Leasehold are as welcome to buyers as Freehold. 999 Years Leasehold tenure allowed owners to hold their properties for many generations. 

There are something which is as important as Land Tenure. In Singapore Real Estate, value of properties also based on Location, Locality, Surroundings, Views, Concept, Design, Functionality, Facilities & Amenities. 

It is depending on what districts your looking for. For D09-10, D15-16 you may find that most of the residential properties have Freehold Tenure. In the other hand, new town or town centre you may find that most of prime good lands owned by State or Housing Board. State and Housing Board will lease out for development as 99 Years Leasehold. (Long time ago they lease out as 999 Years Leasehold. As at that age, citizen still not used to Leasehold Tenure)

Location & Locality.

Most of the prime land near to MRT Station belong to State & Housing Board. Government of Singapore acquired from private sometime ago. Therefor 99 Years Leasehold properties that have such good location near MRT Station and amenities might be in high demand and high potential for redevelopment too.

PROS

• Freehold Condo For Sale is popular due too long period of ownership (specially to foreigner that not used to leasehold property)
• When come to Enbloc situation, developer can determine value of properties as fixed value. They do not have to face uncertainty of applying for top up else to Government(Lease Extension).

CONS

• Higher value come with higher price tag. The affordability of buying to some buyers might be low. The target group of buyers are pretty small.
• Location of property might not be good as some leasehold property and not so convenience.