Hello people! You guys must be aware of the real estate market and the new real estate advances in Singapore. Such developments have irrefutable demand for buyers whether they are buying it as a home or for the sake of earning profit from it. “New launch” is one of the terms that are used to market the property among potential buyers.
If you are interested in buying a property, you must go for it in its “new launch phase” because it’s not only at the lowest price but also has various other benefits like you can choose the unit that best suits your area of interest as well as you can buy a most desirable unit from a whole lot of units that will give you maximum profit in future. This is just like creating your custom design.
If you want to buy a new launch property in Singapore for the sake of earning a profit, first, you must understand the properties of a new launch property. Further, you must have proper knowledge about certain things before investing in a new launch property in Singapore that will be your guide to better investment decisions. This blog is all about those things that you must know before buying a new launch property in Singapore. So let’s just dive into the main point.
1. Buying a new launch property does not always profitable
Before buying a new launch property in Singapore, you must understand that investing in a new launch property is not always profitable. Studies show many cases of profitable new launch property but also some unsuccessful ones and the most famous is the Bay Shore case during the Asian crisis. The aim is not to discourage you but to make sure that you are prepared if it does not work for you. Just understand the fact that it’s not your assured way to make more money and to earn endless profit.
2. Fair knowledge of current property market cycle
If you are going to invest in a new launch of property development in Singapore for the sake of earning a profit, you must understand how the property market cycle works and where we stand in this property market cycle. This cycle consists of four phases that tell about the movement of development prices through such stages and affect the property market by inducing demand and supply for the property. If you have appropriate knowledge about how the property market cycle works, you can make better choices. It also leads you towards more profitable investments.
3. Invest your time in the URA master plan
Just imagine that a tall building starts construction near your condo just after the year you collect your keys and you are no longer able to enjoy the view that made you buy that condo or there is the construction of some kind of factory beside your condo. Doesn’t sound cool. Right? So make sure to invest your time in the URA master plan. URA master plan is the best way to get clues
about what potential buildings will be constructed around your new launch property area because lands are always reprocessed in Singapore.
4. Invest in the most anticipated units
If you want to earn an endless profit, you must go for the most desirable unit within the new launch property development in Singapore. I have analyzed that within the same new launch property development, some units sell within weeks whereas some did not, until decades. Those who made noteworthy profit invested in the most desirable units within new property launch development. It’s obvious that property buyers prefer not to buy such units that are facing a busy road or the units that do not have a solid view. So make sure you always invest in the most wanted units if you want to buy a new launch property in Singapore.
5. Invest your time in the site development plan
If you are interested in buying a new launch property in Singapore to rent out, you must review the site development plan. A site development plan shows all the aspects of the newly launched property and it will help you to make better buying decisions as well as it will be helpful for you to earn endless profit and will prevent you from future inconveniences.
6. Do not buy units with direct west sun
The temperature of Singapore is normally high during the entire year as the climate of Singapore is generally tropical. Here buyers prefer such units that are neither direct east nor west because the units with the direct west sun are extremely hot and no one wants such condos in Singapore. The units with the east sun can also be hot but they are acceptable as compared to the units with the west sun but most wanted units in Singapore are those that are neither direct east nor direct west. So keep that in mind before investing in new launch property in Singapore.
7. You must know in what manner the lifts work in the new launch property in Singapore
It is an important aspect for some buyers and particularly for drivers that whether units have their floor lift’s entrance straight down to the car park or they have to change the lift. So make sure you check in what manner lifts work before investing in a new launch property in Singapore if you are investing for the sake of earning profit.
8. Always invest within your means
To make progressive payment is not a bad idea as it contains many benefits in a new launch property especially for new buyers or investors to expand their business but make sure you invest within your means and do not be over-enthusiastic in your income projection because if you do not hit your income projection later, it will cause difficulty for you in paying your monthly costs.