{"id":463,"date":"2023-05-16T13:16:05","date_gmt":"2023-05-16T05:16:05","guid":{"rendered":""},"modified":"2023-07-04T13:36:17","modified_gmt":"2023-07-04T05:36:17","slug":"condominium-complex","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/glossary\/condominium-complex\/","title":{"rendered":"Condominium Complex\u00a0"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\"><strong>What is a condominium complex?<\/strong><\/h2>\n\n\n\n<p>In Singapore and Malaysia, &#8220;Condo&#8221; or &#8220;Condominium&#8221; refer to residential buildings with particular luxury facilities such as security guards, swimming pools, or tennis courts. A condo is a housing or residential complex comprising individual units owned and rented out by different people.&nbsp;<\/p>\n\n\n\n<p>Condo owners are responsible for what happens in their units, including maintenance and repairs. They must also pay monthly fees to the Management Corporation Strata Title (MCST). The MCST is an organisation responsible for maintaining, repairing, and managing shared areas such as the building&#8217;s facade, swimming pool, gym, and common areas.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Condominium vs apartment &#8211; What&#8217;s the difference?&nbsp;<\/strong><\/h2>\n\n\n\n<p>The terms &#8220;condominium&#8221; and &#8220;apartment&#8221; are often used interchangeably but refer to different housing types.&nbsp;<\/p>\n\n\n\n<p>Condominiums are popular for those seeking private housing without the high cost or maintenance of landed properties. They offer a range of recreational facilities, such as swimming pools, gyms, and sometimes tennis courts, basketball courts, and well-manicured gardens.<\/p>\n\n\n\n<p>On the other hand, apartments are smaller buildings with fewer shared amenities. While more expensive than HDB flats, they are more affordable than landed property and condominiums.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Advantages and disadvantages of condominium complexes in Singapore<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Advantages<\/strong><\/h3>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Additional features: Depending on the complex, you may have access to facilities such as a pool, dog park, or parking garages. The MCST often maintains these common facilities, allowing you to enjoy them without maintaining them yourself. The availability of these facilities also saves homeowners money and time, as they would otherwise have to pay for gym memberships or drive to other locations to access these features.<\/li>\n<\/ol>\n\n\n\n<ol class=\"wp-block-list\" start=\"2\">\n<li>Less upkeep: Condos are trendy among those who desire the flexibility of owning a home but don&#8217;t want the maintenance or upkeep that comes with a single-family home.&nbsp;<\/li>\n<\/ol>\n\n\n\n<ol class=\"wp-block-list\" start=\"3\">\n<li>More affordable: Condos are often less expensive than landed homes and are ideal for first-time homeowners or upgraders with limited incomes. While the initial cost may be higher than an HDB flat, the long-term value of a condominium is often greater. Furthermore, the amenities and facilities often make up for the higher cost, and condominiums are typically located in desirable areas.<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Disadvantages<\/strong><\/h3>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Rules and fees: When you purchase a complex development, you get the MCST\u2019s set of regulations. This can include rules on pet ownership, noise levels, and exterior decor. In addition, homeowners are required to pay monthly fees to cover the cost of common area maintenance and repairs. These fees can vary depending on the complex and the facilities provided, and failure to pay can result in legal action being taken against the homeowner.<\/li>\n<\/ol>\n\n\n\n<ol class=\"wp-block-list\" start=\"2\">\n<li>Less square footage: Condominiums are known for their smaller square footage compared to landed properties. While this may be suitable for some homeowners, it can be a drawback for those who require more space. Additionally, the small living spaces can be particularly challenging for families with children who need a dedicated play area.<\/li>\n<\/ol>\n\n\n\n<ol class=\"wp-block-list\" start=\"3\">\n<li>High-density living: Condominium complexes are known for their high-density living, with many units packed into a relatively small area. This can result in a lack of privacy, as residents may feel like they are living on top of one another. Furthermore, the high density of residents can result in overcrowding, particularly in common areas such as elevators or gyms.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>What is a condominium complex? In Singapore and Malaysia, &#8220;Condo&#8221; or &#8220;Condominium&#8221; refer to residential buildings with particular luxury facilities such as security guards, swimming pools, or tennis courts. A condo is a housing or residential complex comprising individual units owned and rented out by different people.&nbsp; Condo owners are responsible for what happens in&hellip;<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[92],"tags":[],"class_list":{"2":"type-post","7":"entry"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.7 (Yoast SEO v25.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Condominium Complex\u00a0- What is a Condo Complex, Advantages, Disadvantages &amp; More<\/title>\n<meta name=\"description\" content=\"Condominium Complex\u00a0 is an important term that helps you understand real estate industry better. 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