Are you thinking to buy a residential property in Singapore? You may want to buy a property solely to make a home, or you may have to make a profit off that property through a lease or through timely sales.
Irrespective of your intentions, if you plan to buy residential property in the city, then you first need to know everything about these properties in the city. You can also take a look at the luxury collection by Hoi Hup to buy luxury homes in Singapore.
Classification of residential property in Singapore
Although real estate agents in the city would like to use many names for categories of residential property in Singapore and can be categorized into 3 main types:
The first category includes the top level of high-end luxury property, which includes a very elegant and luxurious features and facilities.
The next category comprises of mid-tier residential property that offers a reasonably comfortable, if not overtly luxurious facilities and features. They have a fairly affordable price and can be afforded by the average people of Singapore.
Such properties, however, are known for offering luxury features significantly when compared with the costs charged for them.
The last category of residential homes in the city consists of houses meant for the general public. The house is typically located in suburban locations or along the edge of the city and does not offer many luxury features.
These houses are just as modest or comfortable at best. Prices, however, are very inexpensive and can be easily afforded by the common people with average income.