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Thread: Apartment vs Condo

  1. #1
    Join Date
    Feb 2009
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    Default Apartment vs Condo

    Hi Everyone, I'm a relative newbie to this forum and was wondering if some of the savvy seniors here would be kind enough to enlighten me on the mind-boggling considerations of buying my first private property.

    I've been visiting countless launches in D15/16 and there are condos and then there are smaller developments classified as apartments - not much facilities and with electronic gates.

    I'm attracted to to the small 2/2+1 penthouses in the apartments and also the 2+1 units in the condos.

    Could someone please share with me what, if any, are downsides I should be aware of when going for apartments? Do they have a different appreciation pattern in terms of value/rental? Are they not desired because smaller number of units = smaller sinking fund for maintenance etc?

    I am planning to buy to stay for about 5 years before selling off or renting out. I currently have a 5-rm HDB flat.

  2. #2
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    Mar 2009
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    Quote Originally Posted by Windyblue
    Hi Everyone, I'm a relative newbie to this forum and was wondering if some of the savvy seniors here would be kind enough to enlighten me on the mind-boggling considerations of buying my first private property.

    I've been visiting countless launches in D15/16 and there are condos and then there are smaller developments classified as apartments - not much facilities and with electronic gates.

    I'm attracted to to the small 2/2+1 penthouses in the apartments and also the 2+1 units in the condos.

    Could someone please share with me what, if any, are downsides I should be aware of when going for apartments? Do they have a different appreciation pattern in terms of value/rental? Are they not desired because smaller number of units = smaller sinking fund for maintenance etc?

    I am planning to buy to stay for about 5 years before selling off or renting out. I currently have a 5-rm HDB flat.

    hihi, apartment usually has lesser units

    Downside :
    - Lesser units mean higher maintenance fees
    - minimal facilities (a small pool, a small gym (optional) and bbq pit)
    - management office not located in the project..so upkeeping of the
    common area cleaniness, landscaping, etc will not be good. Usually
    cleaner will only come once a day.
    - no underground carpark, only 1 carpark lot per unit, no visitor lot
    - Rental value is lower..usually expat will prefer full condo facilities
    - No security guard

    Upside :
    - more privacy
    - you get to know all your neighbours.

  3. #3
    Join Date
    Mar 2007
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    377

    Default

    Few units means when big shit happens, the residents each got to fork out big money. If something like sewerage or foundation problem, your balls sure drop.

  4. #4
    Join Date
    Apr 2009
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    Default

    Quote Originally Posted by Windyblue
    Hi Everyone, I'm a relative newbie to this forum and was wondering if some of the savvy seniors here would be kind enough to enlighten me on the mind-boggling considerations of buying my first private property.

    I've been visiting countless launches in D15/16 and there are condos and then there are smaller developments classified as apartments - not much facilities and with electronic gates.

    I'm attracted to to the small 2/2+1 penthouses in the apartments and also the 2+1 units in the condos.

    Could someone please share with me what, if any, are downsides I should be aware of when going for apartments? Do they have a different appreciation pattern in terms of value/rental? Are they not desired because smaller number of units = smaller sinking fund for maintenance etc?

    I am planning to buy to stay for about 5 years before selling off or renting out. I currently have a 5-rm HDB flat.
    Hello! My 1ct worth.

    Prior to answering, let me share the differences between the 2 on legal aspect. Someone do correct me if I'm wrong.

    1. Any land size 45,000sqf and below residential property cannot be classifiy as Condominium.

    2. Any condominium must have 6th storey and above.

    3. Residential vs Recreational ratio on land must fulfill certain criteria.

    4. Unit to Land ratio must also fulfill certain criteria.

    5. Certain facilities is a must.

    6. Lastly, any residential property attach to a shopping centre like compass height, centris, ion cannot be classify as condo regardless of the above mentioned fullfillment.

    So sometime, you could have EVERYTHING a condo have yet be classify as apartment. I'm not going in depth on how it affect valuation unless you want further info.

  5. #5
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    Feb 2009
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    Default

    Thank you so much to the three of you for the insights! How does it impact the valuation?

  6. #6
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    Quote Originally Posted by apple3
    Hello! My 1ct worth.

    Prior to answering, let me share the differences between the 2 on legal aspect. Someone do correct me if I'm wrong.

    1. Any land size 45,000sqf and below residential property cannot be classifiy as Condominium.

    2. Any condominium must have 6th storey and above.

    3. Residential vs Recreational ratio on land must fulfill certain criteria.

    4. Unit to Land ratio must also fulfill certain criteria.

    5. Certain facilities is a must.

    6. Lastly, any residential property attach to a shopping centre like compass height, centris, ion cannot be classify as condo regardless of the above mentioned fullfillment.

    So sometime, you could have EVERYTHING a condo have yet be classify as apartment. I'm not going in depth on how it affect valuation unless you want further info.
    dont say i am not constructive ..

    condo has pool, guards, courts (squash or tennis) , gym
    apt has one of the above missing ...

    thats why in NY ..they are mostly apt ..either no court or no pool ... just gym and guards ..

    i am not sure abt the ratio or height part though

  7. #7
    Join Date
    Apr 2009
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    Quote Originally Posted by proud owner
    dont say i am not constructive ..

    condo has pool, guards, courts (squash or tennis) , gym
    apt has one of the above missing ...

    thats why in NY ..they are mostly apt ..either no court or no pool ... just gym and guards ..

    i am not sure abt the ratio or height part though
    Hi Windy

    what proud said is right but again, it also depend on land size/units ratio at which band. In addition, the common space/recreation area to residential area ratio. this you have to refer to building plan.

    In the past, apartment are associate with lucky plaza apartment, IP or beautyworld, etc. Then when more Geylang/Joo Chiat apartments spurn out across, it give apartment a bad taste.

    Recently, ppl enbloc 2 or 3 landed properties and pay development charge with plot ratio increase for small development, they are hamper by the 45000 sqft ruling but many of them put out those 30 units plus with lavish advertisment like for "the esteem ones" and thus package a bit well. Then when Ion and Centris shopping centre living come to picture, it change the mentality of ppl. (Ion refer to the orchard residence"

    So back to your question, putting aside condo status, different apartment warrant diff evaluation. The key is, it depend on WHY is it classify as Apartment in the 1st place.

    Example, between 2 similar developments, if a condo cat is the same price as a apartment cat, get condo. But if the apartment cat is due to ratio criteria and it near a mrt station/amenities, you may consider the apartment.

  8. #8
    Join Date
    Mar 2009
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    Quote Originally Posted by apple3
    Hello! My 1ct worth.

    Prior to answering, let me share the differences between the 2 on legal aspect. Someone do correct me if I'm wrong.

    ....... 6. Lastly, any residential property attach to a shopping centre like compass height, centris, ion cannot be classify as condo regardless of the above mentioned fullfillment.

    So sometime, you could have EVERYTHING a condo have yet be classify as apartment. I'm not going in depth on how it affect valuation unless you want further info.
    Could you please enlighten further .. what is meant by the last para (how it will affect valuation if "EVERYTHING a condo have yet be classify as apartment"). Wanna learn leh ..

    Thanks!

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