. Since then, developers have caught on, launching numerous projects across Singapore that feature dual-key units. Some new launch condo projects featuring dual-key units include Parc Clematis, La Mariposa and Piccadilly Grand.
As you can imagine, dual-key condo units are designed to target certain groups of property buyers. Firstly, dual-key units appeal to multi-generation families who want to live under the same roof, but at the same time maintain their own privacy . With the Singapore government implementing a hefty increase in ABSD in December 2021, buying a dual-key unit makes more sense to first-time homebuyers and buyers of second and subsequent properties.
Assuming you don't own any other property, you'll have to fork out 17 per cent in ABSD on the second property bought if you go with the former option, which works out to a significant $136,000. For a dual-key apartment, no ABSD is payable if it's the first property you're buying.With dual-key units, you get to stay in and rent out a single property without compromising too much on privacy.
At Kingsford Waterbay, Kingsford Development priced dual-key units at a whopping 20 to 25 per cent price premium. However, for The Orient, developer Aurum Land did not price in a premium for its six dual-key, two-bedroom units.
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