Screen shot 2013-04-30 at AM 02.14.33
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:::: The Golden Mine :::
(Dual – Key Apartments)
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::::::: What are Dual – Key Apartments? :::::::
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– Dual-key apartments consist of a studio unit attached to a normal condo apartment.
– The main door of a dual-key apartment leads to a entrance foyer with another two doors.
– One of the doors leads to the studio unit (green) and the other door leads to the adjoining apartment (blue).

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:::: Secret Benefits of Dual – Key Apartments ::::
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1) ::: Privacy :::
– Each of the dual-key apartment comes with their own living space, bath and kitchen or pantry.

2) ::: Convenience:::
– For families with elderly parents or relatives to stay together under one roof in a dual-key apartment.

3) ::: Flexibility :::
– Use it as SOHO (Small Office, Home Office) and work close to home. Break down the wall to expand the unit in future if need.

4) ::: Rental ::: ***Passive Income/Investment Option***
– The studio of a dual-key apartment is regarded as a room and not an apartment by itself.
– EC owners can sublet even within the first five year Minimum Occupation Period.
– ** Passive income to offset monthly mortgage or maintenance fee ***

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:::: 5 Examples of Living in a 3 Room Dual – Key Apartment ::::
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1) Parents + Family of 3
2) Parents + Couple
3) Parents + Grown child
4) Family of 3 + Tenant(s)
5) Couple + Tenant(s)

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:::: Real Life Example of a 3 Room Dual – Key Apartment ::::
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::::Case scenario::::
Owner of a 3 Room Dual-Key apartment renting out the studio:

::: The Calculation :::

– Purchase price of dual-key unit: $900,000 (assume)
– Loan 80%: $720,000 (assume)
– Loan tenure: 30 years (assume)
– Bank rate: 1.5% (assume)
– Monthly installment: $2500 (assume)

Dual-key studio unit (own living space, bath and kitchen or pantry) monthly rental: **$1000 (assume)

With a passive income of $1000, you can offset the monthly mortgage or maintenance fee.

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**A common room (shared living space, bath and kitchen) in La Casa is renting at about $1000. (Source: Streetsine)
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Source: Straits Times; Money on 1st June 2013
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