Seven Quick Property Tips to Spot a Good Residential Investment Unit in Singapore
In this video, Singapore Property Advisors will talk about seven quick property tips to spot a good residential property unit in Singapore
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1 ; Follow other successful property investors
While it’s isn’t good for herd mentality, this is one move that’s always useful for beginners looking for an investment unit.
Look around for a veteran investor, whom you consider fairly successful – they don’t even need to be at the top of the property game, just more experienced and with a better track record than you.
Look in the same general areas that they do, and try to find out which properties they’re interested. Chances are, they know something that you don’t.
For New Launch, we sometimes see project that sell very well and some that don’t do well.
J Gateway launch in 2013 and all 738 units were snapped up at the development’s preview launch and there must be reason why so many buyers came together to buy on the day itself.
2 , Check the vacancy rates
A lot of investors check rental yields in an area. That’s useful, but seasoned landlords are also careful to check vacancy rates when scouting for an investment property.
This is a more immediate indicator.
For example, if there are high vacancy rate in one area. It can be a good clue that things might not be as good, despite the usually high rental incomes associated with the area
For new launch which has no past track records, we usually base on nearby existing project as a gauge to its future potential rental
3 , look for schools in the vicinity and not just “elite” schools
You probably know that if you live near a particular primary school, your children are more likely to get in under the distance from home to school priority balloting
As such, there’s always good demand for homes near “elite” schools. But even if a school is not as famous, it still benefits the landlord.
The reason is that, if the family’s children attend the nearby school, they’re less likely to want to move. That results in longer leases.
4 , Look for the “ripple effect”
When one particular neighborhood upgrades, and the prices rise, there’s often a ripple effect in surrounding areas. If you can move early, and buy before the ripple hits, you could see some nice gains.
A simple way to do this is to compare transaction prices in one area, to those of surrounding estates. A common precursor to the ripple effect is when you spot a price disparity of five per cent or more, between one area and the neighborhood next to it.
For new launch, we take references from land purchase price. If your interested project land was sold cheaper than the next door land, that’s could potentially mean your properties purchase price will have a disparity in prices (Taken into account that developer profit margin remain the same)
5 Visit property auctions to snag a bargain price investment property
Do drop by during mortgagee sales. While there’s no guarantee you’ll always get a good price, you might find the occasional fire sale – this is when a property has become too costly for its owner, and they’re eager to sell it quickly.
If the reserve price is not met during the auction, remember to approach the sellers directly if you can. They may accede to a private deal with you.
6 Look for aging properties, in neighborhoods with slated upgrades
No, this is not about hoping for an en-bloc sale (although that possibility exists). It’s about rental yield. Remember, tenants don’t really care about how many years are left on the lease – all they care about is convenience and comfort.
This means that an older property – if it’s in the right location – could generate the same rental income as comparably newer properties.
Given that its price is lower due to age, you would effectively have a higher rental yield.
But you need to ensure that the price of maintenance or restoration isn’t too high. Also, you must be sure of its rentability, as it’s not easy to sell a property with an expiring lease.
7, Look for major infrastructure development
Prominent examples of this include the High Speed Rail (HSR) in Jurong, the Johor Baru-Singapore rapid transit system in Woodlands; lesser examples are the emergence of new MRT stations or roads. In general, property prices in Singapore are closely tied to the government’s infrastructure initiatives.
If you have intentions to enter the property market, you are welcome to contact Singapore Property Advisors to arrange for a detailed financial assessment and to discuss what options are possible for you.
Contact Us at http://bit.ly/WhatsappAlvinTaySingaporePropertyAdvisor
DISCLAIMER:
ALL INFORMATION PRESENTED IN THE VIDEO ARE BASED ON PERSONAL OPINIONS AND ALVINTAYSINGAPOREPROPERTYADVISOR IS NOT LIABLE FOR ANY LOSS OR EXPENSES WHATSOEVER RELATING TO INVESTMENT DECISIONS MADE BY THE AUDIENCE. THE IDEAS PRESENTED HERE ARE FOR REFERENCE AND EDUCATIONAL PURPOSE ONLY. ALL COPYRIGHTS RESERVED.
(Dated As of 2/1/2020)
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