Double the Fun in Dual Key Living
The trend of Dual Key Condominiums were introduced in the property market by Fraser Centerpoint Homes Australia in the year 2009. The dual key executive condo concept was gaining hype and popularity globally among the urban living choices in the property market such as Singapore. It offers the most versatile concept defining 2 separate deluxe apartment modules each with own set of living, dining, kitchen, bath and bedroom on a shared foyer of a single property unit in a condo building. Singapore has one of the world’s most dynamic dual key condo concepts offered catering not only to single occupants but greatly due Singapore’s extended family living schemes.
Reaping the Yields of Owning a Dual Key Executive Condo
Dual key executive condo units offers the benefit of two luxurious units in a single property title. The double in one urban living property package uses the concept of a common foyer with two sets of adjoined apartment home layouts side by side with each other. The occupants can both enjoy the various perks offered and made available by the condo building developer to its tenants to make their stay and living condition the ideal ones.
- Home & Family Living – Although designed with a common foyer the design of a dual key executive condo was catered to make each family occupant harmoniously live side by side without compromising their privacy.
- Community & Social Living – Developed with complete social and common community amenities for tenants to socialize and interact within the condo living community.
- Amenities – Dual Key Executive Condo facilities regularly facilitate amenities such as parking, gym and online internet access as well as other recreation facilities like swimming pool, ball courts, gaming, area security and community shopping stores.
- Safety – The area was normally secured by security personnel and electronic building surveillance systems.
How and where to buy Dual Key Executive Condo
Buying a dual key executive condo unit require some guidelines and preparations to make. But hold on to those hard earned money and life savings and consider some few things before submitting your application and signing in a property sale once the condo developer announced its launching through newspapers and their respective websites.
Know the process of procurement. For over half a century, the Housing and Development Board (HDB) was the government’s agency that manages Singapore’s urban housing estate planning. Using the Build-To-Order (BDO) or Sale of Balance (SBF) schemes offered by HDB to housing applicants, one can apply to procure a dual key executive condo unit.
Funds and finances for procurement. Eligible housing applicants, with or without a Central Provident Funds (CPF) housing grant can be purchased from private condo developers but must have sufficient funds to defray and kickstart the building of the condo unit. Note that indicative prices of the units are based on design and the number of executive condo being offered. Funding can likewise be obtained through a bank loan after meeting all its requirements.
Able to pay the required option fee for the purchase. Option fees could include the down payment, the related legal fees, stamp fees, resale levy and renovation cost.
Booking of the unit. Once the property application was submitted to the condo developer, who has the option to whether offer the unit through electronic computer balloting or through walk-in selection, the developer will require the payment for the unit.
Payment and sign-up the purchase. After documentation, booking and payment, the eligible housing applicant may proceed in signing up the sale/purchase and the letter of offer, if payment will be through a bank loan of the condo unit with the developer. Payment must include at least 15% of the purchase price and 1 to 3% payment of legal and stamp fees through CPF.
Processing. Processing of the documents usually takes within 9 weeks after the date of the Offer to Proceed (OTP) and signing of the sale/purchase agreement.
Awarding of the unit. Once everything was clear and the above requirements were met, the developer will have you invited and turnover the keys to the unit and your copy of the processed and approved property documents along with the conditions after purchase.
Where are dual key executive condo in Singapore located?
Living in a dual key executive condo unit offers prime quality facilities to its duo tenants living side by side to make their living condition the most ideal one. Couples who wanted to move in with their ageing parents, grown up children and other extended family member to monitor and look after them was the most popular reason why people invest on dual key executive condo properties. The side by side concept of a dual key executive condominium are likewise popular among siblings, friends and other acquaintances.
But possibilities does not stop with just the ideal offerings of the place. Most dual key executive condo units were located on prime estates with full access to connect the tenants with other vital areas in the city. Most condo places are ideally located in proximity to work, school and other commercial and community areas and facilities like subways, city roads, churches, transport terminals and every place where people interact and socialize with each other.
Investment Venture. Owning a well maintained property unit in a dual key executive condominium was proven to be a wise investment venture since the value of the property appreciates through the passage of time.
Business Venture. Due to its prime location, most executive condo unit can be sub-leased once it becomes idle and yield income from its rent. It can easily be converted as a business office place as well as made into a commercial unit if the area was on a prime location spot within the condo building.
More Than Just A Property!
Getting into the hype of owning and investing in a dual key executive condo property has been more than just a home to live harmoniously with the family together in one place. A dual key executive condo property offers endless opportunities for someone who cares and has that entrepreneurial mind. A dual key executive condo is more than just a property to own.