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How Land and Building Ownership Differs in Singapore

Posted by amimo on February 25, 2017 in Uncategorized |

The company I work for does a lot of business with a company in Singapore. We rely on a printed circuit that we collaborate with engineers in Singapore to continually improve and make. I have to go back and forth to Singapore often throughout the year. For my contract, I worked out a liberal housing allowance, and my wife and I bought a property in Singapore as an investment. There are many nice places to live, and you can see examples at Thenewlaunchcollections.com. We picked a strata property.

Singapore has different types of agreements for property. A leasehold property is where you can lease your living space for 99 years. A freehold property is where you own the structure, or unit, you are living in. Landed properties are where you own the land too. A strata property is where you own your structure and the plot of ground it is on, but you share ownership of common areas such as driveways, gardens, big swimming pools and stuff like that. Each one has advantages and disadvantages just like anything else. Our strata property only has a few privately owned spaces on it. Some of the condo structures have hundreds of units. We are on a property that only has a handful of individual homes.

Now when you think of homes, you probably think of a house next to other houses in a neighborhood. A strata property in Singapore is like a themed construction project. Your house may have a wild shape as compared to the standard rectangles and square houses here, and it will abut or be close to others like it on the property. You are likely to have multiple floors and an elevator too. All in all our house in Singapore has a lot of cool features our house here does not have.

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