Factors to Consider Before Buying a Condominium
A practical checklist Adrian walks clients through — the market fundamentals behind property value, the due-diligence factors worth checking on any condo, and how priorities shift depending on whether you're buying to live in or to invest.
Two Fundamentals Worth Remembering
Before getting into the checklist, it helps to understand the two forces underpinning property value in Singapore.
Population is constantly growing
As Singapore's population continues to grow, so does demand for property. More people competing for a limited supply of homes and land is the underlying force behind long-term property demand.
The structure depreciates — the land appreciates
The physical building depreciates over time as it ages. It's the land beneath the structure that appreciates in value — which is why location and land scarcity tend to matter more, long-term, than a unit's finishes or fittings.
Common Factors to Evaluate
Whether you're buying to live in or to invest, these are the factors worth checking on any condominium you're considering.
Real Estate Market Timing
Is now a good time to buy or invest, given where the market cycle currently stands?
Project Developer
Does the developer have a proven track record of quality and timely delivery?
Age of the Property
How old is the development, and what does that mean for its remaining lease and upkeep?
Entry Price
Compare the per-square-foot price against surrounding condos of a similar age — is it competitive?
Transportation
How easy is access to public transport (bus/MRT), expressways, and other key routes?
Environment
What surrounds the property — and how does that affect its outlook and long-term liveability?
Maintenance Fees
What are the monthly maintenance fees, and are they reasonable for the facilities provided?
Estate Maturity
How "mature" is the estate — established with full amenities, or still developing?
Tenure
Freehold or 99-year leasehold — and if leasehold, how much lease remains, since this affects both financing and resale value over time.
Unit Orientation & Facing
North-South facing units are generally preferred in Singapore's climate; west-facing units can get uncomfortably hot from the afternoon sun.
View & Obstruction Risk
A premium view today isn't guaranteed tomorrow — check the URA Master Plan for nearby sites that could be developed and block it.
Layout Efficiency
How much of the built-up area is actually usable, versus lost to odd corners, bay windows, or planter boxes?
Developer & Builder Quality Track Record
BCA's CONQUAS Banding rates developers and builders from Band 1 (very few defects) to Band 6, based on their past six years of projects — checkable on BCA's Quality Housing Portal.
Sinking Fund Health
For older or resale units, check whether the development's reserve/sinking fund is healthy enough to cover major repairs, like lift replacements, without a big top-up call from owners.
Own Occupation Priorities
- LocationProximity to schools and your workplace.
- Nearby Amenities & FacilitiesAre essential services, shops, and food options close by?
- Unit SizeDoes the unit size suit your household's needs?
- Freedom of SpaceIt's often more logical to buy one bigger unit than several smaller ones — you get more usable space for the same outlay.
- Heat & Noise PollutionConsider the unit's orientation and surroundings — exposure to sun, traffic, and noise.
- Style of the PropertyFamily-oriented design and facilities, such as kids' pools and playgrounds, if that fits your household.
- Privacy & Neighbours per FloorMost condos have around 4 to 7 units sharing a floor; premium developments with fewer units — sometimes with a private lift lobby — offer more privacy at a price.
Investment Priorities
- LocationWhether you personally like the location isn't what matters — it's whether your future tenant or buyer will like it.
- Freedom of SpaceTwo 2-bedroom units are often a better buy than one 4-bedroom — smaller units are easier to rent out.
- Surrounding Property ValueHow the values of nearby properties are trending.
- URA Master PlanConsider newer areas with high growth potential as outlined in the URA Master Plan.
- Time to TOPThe nearer the Temporary Occupation Permit date, the sooner you can start renting the unit out.
- Style of the PropertyInvestment-oriented layouts, such as dual-key units, can widen your pool of tenants or buyers.
Factors to Consider for a Buyer
Beyond the property itself, how you approach the search, the pricing, and the financing makes a real difference to the outcome. Here's the process Adrian walks buyers through, start to finish.
Find Something That's Right for You
Every buyer's needs are different. Get clear on your own priorities — space, budget, purpose — before you start viewing, so the options don't overwhelm you.
Evaluate the Location
Proximity to MRT/bus, expressways, schools, and workplaces. Location remains the single biggest driver of both livability and long-term value.
Be Informed About Prices
Check actual transacted prices — not just asking prices — using resources like URA's REALIS caveats for the project and surrounding area.
Know the Market Rate
Compare psf rates against units matched on tenure, size, location, floor, view, and furnishing — like-for-like comparisons, not broad averages.
Understand How Prices Have Been Trending
Look at the trajectory over the past few years, not a single snapshot, to judge whether momentum is building or cooling.
Push on Getting a Better Price
Use comparable transactions and time-on-market as leverage — sellers and developers often have more room to move than the asking price suggests.
Take Note of Supply Risk
Check how many new units are launching or completing nearby over the next few years — a wave of new supply can cap both price growth and rental rates.
Consider Alternatives
Don't fixate on a single project. Shortlist a few options so you have a realistic sense of value — and stronger footing to negotiate.
Plan Your Finances
Map out the full cost — downpayment, stamp duties, legal fees, renovation — and confirm affordability under TDSR/MSR before you commit.
Get the Right Home Loan
Compare packages across banks — fixed vs. floating rates, lock-in periods, repricing terms. The lowest headline rate isn't always the best fit for your plans.
Time Your Purchase Around Policy
Cooling measures — ABSD, LTV limits, loan curbs — shift periodically. Knowing where the market sits in that cycle affects both pricing and your total cost.
Get an In-Principle Approval & Engage a Lawyer
Secure an In-Principle Approval (IPA) from a bank before you commit, and have a conveyancing lawyer review the Option to Purchase and title before you exercise it.