Freehold in property means complete ownership of the property. As a sole owner of the property, you can do anything you want with the property. Examples of freehold property may include an Estate in Perpetuity and an Estate in Fee simple. When it comes to proprietorship of land it is more valued but when it comes to Freehold condominiums and other types of properties, pwners get a certain share value.
Leasehold or Freehold Property
Leasehold property means property owned for a specified amount of time known as the lease term tenure. The ownership of the land is for a fixed period, for example, 99 years or 999 years leasehold. Once the leasehold term expires, the property ownership will return to the state.
Overall, leasehold property is a bit better priced than freehold property. Since majority of leaseholds are state properties, some of their locations are good with better amenities and facilities. However, freehold property is more convenient since once owned it can be passed on to the next generations.
Jui Residences at 1177 Serangoon Road is Freehold Property
If you’re planning on putting up rentals on your property, the pricing of the units will be the same for leasehold and freehold property in the same area. When it comes to rental yield, leasehold properties yield more profits in the long run than freehold properties which yield a lesser profit. Jui Residences is a freehold property located right in the heart of 1177 Serangoon Road at Potong Pasir Town.
In terms of floor plan, Jui Residences features units with 1, 2, 3 or 4 bedrooms. There are two types of facings available: Moonstone Lane Facing and Kallang Park Connector facing. Units on the 6th floor and above have an unblocked view.
This real estate is ideal for couples who are starting to build their own family. Access to basic necessities is very easy and there are a lot of amenities that make living more comfortable. Moving to and from other points across Singapore is a breeze as public transportation is readily available.
It is easier to obtain a bank loan for a freehold property. This is because there is permanent ownership unlike in leasehold property. Banks tend to be more reluctant to finance leasehold property as the lease nears the end of its tenure.
Jui Residences Selangor Dredging
En-bloc is a collective sale where an investor buys out all the units in a condominium in bulk. It is more favourable to purchase freehold property for collective sales since the property will be worth much more in future. A differential premium is paid by developers for leasehold to reset the tenure back to 99 years.
Each of the tenures have their advantages hence neither is the better tenure type. All that matter is your investment strategy and your needs.