Singapore is almost a haven for real estate investment for local Singaporeans and foreigners no less. Due to its political stability, stable currency, strong economy and sound fiscal policies, Singapore is one of the top real estate investment destinations for many foreigners and Singaporeans. The draw for investing in Singapore’s real estate is even stronger after how the world witness the way the government handles the pandemic; they may not be the best, but the transparency of the government and ultra low death rate increases the attraction of Singapore as a top notch country to live in.
The question comes when investing in private property in Singapore, is it better to buy a unit that is already completed or is it a good choice to buy a new condo launch where it is still under construction? There will always be different group of buyers with different preferences, some will prefer to buy something that they can already see and feel, and therefore, a physical and ready product will suit them the best. There is also another group of buyers, usually younger, who are more receptive to adventure, and do not mind buying a unit just by seeing a show unit in the showflat. This group of buyers are taking a big risk, buying purely out of floor plan and what they see in the showflat, but they are willing to take the risk because they prefer new things.
So which one is better? Resale or new condo launches? There are bound to have many debates over this, but we can’t deny that buying new condo launches do give quite a good bargain to buyers. A new condo doesn’t really requires renovation, and usually already comes with white goods, therefore, if buyers are buying for investment, they just need to fix the lightings and they are good to rent out, but if you are buying a resale condo, there are things that you might need to fix, and it may need huge renovation at times, and most importantly, the infrastructure and condo facilities are old and probably not as attractive compared to the new ones. Importantly, when buying a brand new condo, buyers can almost be sure that they will be able to make a capital gain when they sell off their property about 3 to 4 years later, and this is something that is hard to achieve in resale condo landscape in Singapore. Most of the capital gain will be made by the first owner usually and left little to be made by the subsequent buyer.
Ki Residences Singapore is a new condo launch that one may consider as it will be launched in 4th Quarter 2020. Ki Residences condo is located near Sunset Way area, along Brookvale Drive, within a landed enclave that encompasses peace and nature. Ki Residences Sunset Way is a 999 years leasehold development that was bought enbloc by Hoi Hup Sunway, and due to its lease, it can be expected to be sought after. Ki Residences will consist of 660 units, ranging from 1 bedroom to 5 bedroom, and Ki Residences floor plan will be released closer to the date of launch.
For more information, please refer to https://www.ki-residencescondo.com/