As with ECs, private condominium are full suite condos built and marketed by private developers. Private condominium runs the gamut from cheaper units available at the Outside Core Region (OCR) to those in the Central Core Region (CCR) and from private lift to penthouse units and landed units. Private condominium may be leasehold (99 years) or freehold.
- Can be sold to foreigners and companies with no restriction
- No Minimum Occupancy Period (MOP) – you can sell it or rent the full place out immediately (for sale of private condominiums within 3 years, seller stamp duty applies)
- Comes almost fully furnished (kitchen, air-conditioning, flooring, some even includes refrigerators, ovens, etc.)
- Condominium Facilities (gym, swimming pool, tennis courts, parking lots, bbq pit, function rooms, etc.)
- You must use a bank loan (no HDB loan)
- No government subsidies for private property (i.e. no CPF housing or proximity grants).
- Monthly maintenance fees of $250-300 depending on condominium size (for the use of common facilities, parking, security guard, etc.)
- Typically the most costly among the housing options