Every Singaporean has a dream. The dream to own their first property when they first get married; the dream to own another property as an asset for investment to secure your children’s future or if you yearn to retire early in Singapore.
The dream will be realised somehow. When you are making your first upgrade/investment move, there will surely be a few questions that pop into your mind. Being a new investor into Singapore’s property, you usually ask yourself, what kind of property should I buy? Should I buy a resale? New Launch Condo? Commercial / Industrial Property? Overseas Properties? Freehold? … etc, shan’t bore you with all the standard questions.
Think of it- none of us are fortune tellers.Neither are we expert analysts nor do we have superpowers that allow us to foresee the property market’s movements in the future. Despite say having half a million of dollars savings, if you put it into a fix deposit in a bank that offers you the highest interest rate at 1% p.a for fix period of 3 years at minimum, how much will get at the end of it? In that sense, you are not actually letting your 500k work hard enough to grow you even more money in another 3 year’s time. So you turn to investment-but how do you use your 500k to invest in property to see the rapid growth of your property’s value and how to buy the right one?
Personally, it is all about how much you can actually afford for the initial payment of the property you are buying. In Singapore, one of the safest bet is to be committed to reading, seeing and listening. By these, I mean, wake up early enough to read up our news, watch our news on TV and listen to what our government has in plan for Singapore. This is the simplest thing you can do to invest and won’t be wrong at all.
One excellent example that happened in National Day Rally 2014 Speech by our PM Lee, he talk about the big plans that our government has for Jurong, a huge transformation is underway for Jurong!
Take 10 mins of your time to watch the short video below..
Truth be told, on 4th April 2014, the only full private new condo launch – LakeVille condo at Lakeside in Jurong Singapore, had sold 90% of its first phase launch and subsequently had been the top selling project for the rest of the months in 2014 despite 9 rounds of cooling measures in Singapore. As there are huge transformations going into Jurong area, the Upside Potential is so obvious and buyer who have bought a unit in LakeVille condo are anticipating for a healthy and steady growth of their wealth. Honestly speaking, even for own stay, they are more than happy to know that their nest, as their assets, are growing exponentially.
If you are still wondering whether to get a freehold or a leasehold property, do check out the article: Freehold vs Leasehold, hope it will help you to clear your doubts. Everything else when comes investing or expanding your portfolio, is not always just about dollars and cents. What if you could buy a property at a dirt cheap price but location has no MRT, even taxi are rare, no growth or future plans AT ALL? Vice versa, a property at the current market price, but with superior location like near MRT, nearby amenities, High Potential Upside with Big Future Plans and transformation all in pipeline and officially announced in the news? Which would you choose? Choosing the latter is definitely a no brainer. But there’s no absolute right or wrong for the first option either. Confused? If you were to go for the first option, nothing is much to anticipate about, it is all about your holding power, so you get the point now.
Other areas which are popular among Singaporeans are Kallang Riverside, as the freehold land is limited with all the rest of the nearby land being GLS (Government Land Sales) and also the 100% SOLD out residential project – The Citron Residences, launched in July 2014. District 8 is a place which is loved by many people. Sitting at the City Fringe with many heritages around and surrounded by some of the modern design shopping malls, complete with eateries and advance medical like the upcoming Royal Square @ Novena, Health City and Farrer Mediplex. Fortunately, you can still get a residential unit in the area which a new condo is launching at the same vicinity – Forte Suites. With the limited freehold units available, it is better for your to rush down to have your investment property to purchase with the First Mover Advantage! Alternatively, if you are looking for a lower entry price and bigger scale for your portfolio, can consider the New Launches that are soon to preview – Sims Urban Oasis and North Park Residences.
Did I mention that the Singapore – Kuala Lumpur High Speed Rail in Jurong East?
Whatever contents written above, are solely for your reading pleasure. As this is solely based on Prelaunch.SG’s Team opinion only. Not to be used as any reference in relating to your property purchase. Has absolute no relation to your property decision making either.