Freehold or Leasehold Condo?

When you want to personal a property in Singapore, it is essential to note if the property you are buying a freehold or leasehold. The primary difference is the legal ownership of the property.

Freehold

A freehold property indicates that the buyer owns the condo and the title deed of it. The buyer will only pay the mortgage and not a monthly rent. Freehold condos are much more expensive than leasehold ones as you own the property for as long as you want.

Leasehold

There are several types of leasehold properties in Singapore - 99-, 999- or 103- years. Following the lease expires, the legal ownership of the property will go back to the government. Nevertheless, the main advantage of this is that the cost of the property is often cheaper than the freehold one.

If your intention of purchasing a condo is stay in it for at least ten to twenty years, you might like to think about a freehold condo. This will make sure that the worth of the condo will not depreciate in value the longer you remain. You can also leave it for your kids when you develop old.

If you are mainly interested in capital appreciation and will be selling off the condo in just a couple of years, you may be better off purchasing the leasehold condo because the outlay of initial capital is lesser permitting a greater leverage.

Last but not least, usually plan ahead and make sure you have holding power when prices start to go south if you are starting off with a small capital.

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