Whenever buyers ask to view older luxury condos – the sort in places like Orchard, River Valley, and Holland V – some property agents cringe internally. The reason is simply that, besides their location, many of these older prime area/luxury condos just haven’t kept up with the condos of today. Standards have jumped significantly since the ‘90s, and what was considered fancy back then is about as impressive as having a nearby bus stop today (i.e., no one is amazed). Here’s a rundown of this issue we’re experiencing on the ground right now:
What makes a “luxury condo” different?
While location is usually what comes to mind, it’s other elements as well. This has included personal pools inside units, high ceilings and other high-end furnishings. There’s an expectation that people will be able to recognise a high-end condo the moment they see it; and here’s where the problem lies:...