Dual Key Condo Explained
What is dual key condo
Back in 2009, dual condos or dual key condo units were first introduced into the private market. They are essentially two-in-one apartments that have a studio attached to the condo unit. The term comes from the fact that each unit requires a key to enter. Today, this type of condo has really taken off and can be found in many new condo launches in Singapore.
Dual Key Condo Features
You’ll find that most dual key condo units offer a shared foyer that connects a studio unit and main unit. The studio unit is self-contained with its own living space, rest area, bathroom and open kitchen.
The primary unit will also have these features but generally, add more rooms. You might argue that the dual key condo is the equivalent of the house and room above the garage which can be rented or used for extended family members sacrificing much on privacy. This is why they are sometimes called a multi-generational flat.
Why should you get a dual key condo?
There are numerous benefits to having a dual key condo
- A dual-key condo effectively gives you two properties, on paper it still counts as a single unit. Hence it doesn’t incur ABSD.
- Living with your extended family without sacrifices on your privacy.
- Good property investment for those owner looking to live and earn extra rental income.
- Ideal for business startups, entrepreneurs can use the studio apartment as a home office under the home office scheme.
Although advantageous in many ways, a single condo unit of the same size will most likely cost less compared to a dual key one. If you are looking for additional rental income, or wish to live near your parents, the dual key condo may be perfect for your needs.
Intrigued by the potential of dual key flats? view a list of new launch condos with dual key units here.