Buying Private Apartment/Property in Singapore - 2

In Singapore, there are two types of residential properties available for buyers.

1. HDB - Housing Development Board. A government entity. As there are many conditions to buy, sell and rent HDB properties, it is very well advised to check HDB website every time you want to make a transaction. Depending on many conditions, government modifies and improves the eligibility criteria to own and hold a HDB flat.

2. Private property. In Singapore, private residential developed property is available in the market in three categories - 99 years, 999 years and freehold. The number of years are a condition which regulates the cost of the land which the property developer pays to the government. 

There are a few points or things one needs to know before buying a condo / private apartment. Very important for foreigners and for some locals too. I am putting these point together out of my personal experience and for general knowledge. Now a days a lot of information is available on net. Search and read. Talk to experienced property agents, friends and colleagues.

Here is some general information other than available list of properties, bank loan conditions and investment.

First is, MCST - short form for Management Corporation Strata Title. Every foreigner who has no idea of Strata Tile has to understand this completely. Generally most of us understand that when we buy a flat or an apartment, we will acquire not only the area we live in, we will also get a proportionate share in the common land in the premises ex: parking area, corridors, roof (if there is no penthouse), all that area that is commonly used by and is available to all the residents. In my knowledge, the share is mentioned in the Title Deed the owner holds under his name and registered in the local Registration Office.

Every property owner is treated as a shareholder of the property. When a sale takes place, new share holder (the buyer) name will be replaced in the MCST in place of the previous share holder (the seller). MCST is also a legal entity that control, manage and administer the common property for the benefit of all the subsidiary proprietors constituting the management corporation.

Building and Construction Authority (BCA) regulates, as the name suggests, every aspect of construction in Singapore. It gives complete information about owning and living in private apartments and condominiums in its publication - Strata living in Singapore. 
Apart from the guidelines given in general in Building Maintenance and Strata Management Act (BMSMA), living in a private flat/apartment/condo requires knowledge of much more. One example is, repairs or extensions or alterations one would like to carry out in his premises. Usually MCST refers to BCA guidelines for private properties. Check the below links for an understanding. However, follow the MCST rules. Some MCSTs may modify some rules according to their convenience, within legal boundaries.

Build it right - Minor works that do not require BCA approval - http://www.bca.gov.sg/WorksApprovalNotRequired/others/booklet.pdf

List of Minor Development and Building works that do not require approval from BCA or URA  - http://www.bca.gov.sg/WorksApprovalNotRequired/exemptions_list.html

Burger King - Singapore

My recent visit to BurgerKing for a pack of onion rings and drink made me think about a few factors like value for money, fancy eating out habits etc etc

 

 

I paid about S$15++ for two drinks and two packs of onion rings. Later my visit to NTUC made me realize that my eating out cost can buy the same items four times more. All I have to do is spend a few more mnts in the kitchen to heat up oil to fry onion rings.