Freehold vs 99-year Leasehold Tembusu Grand Condo
When it comes to buying a property in Singapore, one of the most important decisions you will have to make is whether to opt for a freehold or leasehold condo. While both types of properties come with their own set of advantages and disadvantages, understanding the differences between them can help you make an informed decision.
Freehold condos refer to properties that are owned by the individual on a permanent basis. This means that the property can be passed down to future generations without any additional fees or legal hurdles. On the other hand, leasehold condos refer to properties that are owned by an individual for a set number of years, after which the ownership reverts back to the landowner.
Advantages of Freehold Condo
One of the main advantages of freehold condos is their long-term value. As these properties can be passed down to future generations, they tend to appreciate in value over time. This can be especially beneficial if you plan on holding onto the property for a long time or using it as an investment opportunity.
Leasehold condos such as Tembusu Grand, on the other hand, tend to be more affordable compared to their freehold counterparts. This is because the landowner retains ownership of the land, and the leaseholder is essentially paying for the right to occupy the property for a set period of time. However, it’s important to note that the value of leasehold properties tends to decrease over time as the lease term approaches its end date.
Main difference between leasehold and freehold condo
Another factor to consider when choosing between freehold and leasehold condos is the length of the lease term. In Singapore, most leasehold properties have a lease term of 99 years, while some have a shorter lease term of 30 or 60 years. It’s important to keep in mind that once the lease term ends, the property reverts back to the landowner, and you will not receive any compensation for the property.
Ultimately, the decision between freehold and leasehold condos comes down to your personal preferences and long-term goals. If you’re looking for a property that you can pass down to future generations, or use as an investment opportunity, freehold condos may be the way to go. On the other hand, if you’re looking for a more affordable option, or you’re only planning on living in the property for a set period of time, leasehold condos may be a better fit. This makes Tembusu Grand affordable in terms of the quantum pricing.
In conclusion, whether you choose a freehold or leasehold condo in Singapore will depend on your individual circumstances and goals. However, it’s important to keep in mind that both types of properties come with their own set of advantages and disadvantages, and doing your research beforehand can help you make an informed decision.