While 80% of the population in Singapore lives in an HDB, we are quite marvelled by towering Condo emerging almost every quarter of the year. It is very clear that new condo in Singapore is a common sight and in strong demand; be it ‘freehold’ or ’leasehold’. But how could such condo project be so popular that it is often 60% snapped up after only 3 months of launch? Some might call it a past time in Singapore to buy another property, but did you know that purchasing a new condominium direct from developer during such modern times with strict regulations actually gives you an edge over time?
The theory is the same as having to pay around 70 cents for a cup of coffee 10 years ago, today it cost 1 dollar, that is almost 43 percent increment, which doubtfully our wages increment even cam a fraction close to that. And keeping your hard-earned money in the bank, is a gravely mistake simply because the interest rate you are getting is also a fraction of the inflation in Singapore. Let us rationalise things, why did the coffee price increased over the years? Aside from raw materials and labour, rental cost for the premises rose and that is the biggest contributor to rising cost in Singapore.
The fact that properties do appreciate in value with time, making condo projects an ever popular product for both Singaporean and foreigners; being a landlord is having the best job. Ask yourself if you have ever invested in something that gives you ‘shelter’ in all aspects and safe guarding your interest during financial downturn.