Property is related to investment and also an attribute of belonging which is owned by a person and it is the essential holding or the ownership by an individual to live happily throughout life. Such kind of property is a condominium which is a form or a kind of property that involves multiple-unit dwellings in which a person owns an individual unit but there will be the common areas and they are owned in common. The people or the individuals who live in this condominium will be sharing in the cause as well as the maintenance for the common areas. In Singapore one of the projects Canninghill square which builds the best properties for individuals and is located in the heart of the River Valley by CDL. This development will provide a number of accommodating areas and spaces to the individuals and one can check out the design and structure as well as the location to learn about it more.
Living spaces and common areas in a condominium
The people living in the condominium will be sharing the maintenance of the building’s roof always with fitness center, landscaping pools, driveway, lobby elevators, and other amenities. There is a need for their unit just like if they have purchased the house they also own the unit. In other words, this is recognized by the real estate laws as the best for house owners. A condo owner reserves the sale rights and all other rights of using the condo. However, if there is a tenant, then there can be agreed restrictions. Ideally, a covenant agreement gives out the rights regarding sale, restrictions and more that may or may not bind the condominium owner.
In Singapore, there are a lot of properties with expensive and Sky-high prices and it may be a costly issue when it comes to real estate and investing in a property, But if we check out the positive side buying a condominium in Singapore is far better and also easier than getting one in the other Asian countries.
A condominium association holds the managerial rights of the condominium and houses all the unit owners as the association members. It seems to be like society and there will be all the members of the condominium for any kind of issue that that can be faced, and the solution will be provided within no time which will lack in detached houses.