Condos are the most common form of private property in Singapore; and while most buyers will consider everything from the façade to the size of the air-con ledge, they often miss an important factor: the maintenance fees.
Especially so for buyers who upgrade from HDB flats, where they’re used to seeing conservancy charges of $80 to $90 per month. It’s only after their first three months in a condo, before they see a bill like this and realise just how much more hefty the maintenance fees can really be:
Yes, that’s the quarterly maintenance fees on a 1,300+ sq.ft. condo unit in Changi Court. This is a fringe region condo, that’s not particularly fancy in terms of facilities (it’s your usual pool, gym, BBQ pits, etc).
Today’s condos, which have fancier facilities, it’s possible for it to cost much more; and prime district properties can reach up to four digits per month, not per quarter. All of this means the maintenance fees make a crater-sized impact on the following: