Most people don’t really understand the concept of a double keyed apartment. It means you bought a property that shares a front door and a hallway. However, the main unit and adjoining studio were created with separate entrances. In Singapore, this concept is being adapted by some developers, such as the Heron Bay Executive Condominium in Upper Serangoon. Even small developments find the idea attractive enough for local and foreign families.
Best for extended families
This concept is best for extended families who want to live close to each other. With the kids around and going to school within the neighborhood, having a front door is perfect so they can play outside the house but not inside each apartment because they have separate entrances. This is very safe and parents can go to work knowing that their children can bond with each other without really making a mess in the house. This is what we call living together but separated by the concept of a front door but with separate entrances.
prices are affordable
If you intend to buy because you need to keep the kids close to school, then yes, the prices for these double keyed apartments are affordable even if you have a second home. The maximum rent you can get is about $1,000. The price of the three-bedroom unit is only $837,000. First-time buyers in Singapore are eligible for CPF housing grants of $30,000. If you think you are eligible, then better get one.
elderly parents
The units can be good for couples and elderly parents who need their respective privacy but want to live closer to each other. This idea is very new and many people are still trying to figure out how much benefit they get from it.
Office
For executives and businessmen who need a separate office or home office, the dual key would be a great idea. However, there is one thing you may not like. If you ask your colleagues to discuss important matters in your office, then they will know where you live. With the kind of affordable price and convenience you get, you may want to reconsider this option.
presale discounts
During the presale, you get a discount with the option to resell.
What you should know and consider about double keyed apartments
You should be aware that you may not be able to rent the unit as high as you want. Sometimes prices fluctuate. Depending on the preparation of the market, you can only get up to $1,000 if you rent it. During construction, the market may drop, so don’t expect too much on the amount of rent you can get.
Common areas
Some dual key properties may have a shared kitchen and lounge. You may want to ask the seller about this before you put down the payment. Other units share only a main entrance door and hallway. The rest is separate. If this suits you, clarify first about the shared space.