Finding Success in Investing in Condominiums
Real estate investment has been proven to be a solid and profitable investment in Singapore and elsewhere. Residential and commercial properties are popular investment because there are people now more than ever discovering lucrative opportunities in condo investment.
Industry experts may caution the first time investor that it may take some time to have the capital profit from it, assets in real estate such as condominiums are very practical and can be the surest way in real estate investment. Today, condominium prices are now being offered at customized terms, making it flexible and easy for new buyers to purchase a unit. Condo investments nowadays, may pose small risks because there is a various ways you can gain even from any property.
When you decide to buy a condo, it is good to be know of the financial gains of owning one. It is important to know the economic profits in owning a condominium that will help you use your property in the most rewarding way possible including financially. To improve your success in investing, there are benefits that comes in investing in a condominium property.
First is, access to amenities is low cost and very much part of the structure of the condominium For example, when you have condominium unit, you can avail amenities that are close-by like the gym, pool, and function areas you would normally travel far to the mall but these amenities are there in the condominium building. However, these amenities comes with a cost as part of monthly dues but rest assured, it is for the maintenance costs. Even so, the fee is lower than when you go to the mall or have your own pool or gym. Thus, find a condominium property that offers the best amenities and first-class facilities for you to enjoy.
Another way to find success in condo investing is its transferable quality. This means that your condo unit can be easily rented out. You can rent your condo unit out at a rate you find competitive in the market and get profit from it. Most students and employees from nearby business districts prefer to rent than commute or travel distances from their original home. This is a smart tactic for condo owners who are looking to get profit from their unit without selling the unit itself.
One condominium area in Meyer Road that offers promising results is the Albracca condominium that has been recently sold for $69.12 million by Sustained Land, a property developer. The price was set at $1,409 per sq. ft. per plot ratio with a maximum gross plot ratio of 2.1 under the Master Plan of 2014. Documents show that the property is not lower than the owners’ price of $65 million. It was completed in 1990 comprising of 11 apartments in a 10 leveled building.
Experts say that bidding response for Albracca was intensified, with multiple bids from all developers from all sizes. It is no wonder, the condominium property is a hot ticket due to its 23,400 sq. ft. the site near at Meyer Road and near the Katong Park station.
If you are thinking now if the Albracca is worth your investment in a condominium. As given above, it’s always about the location. And where is it located? It is on Meyer Road. Travel bloggers and Singapore natives will tell you that the serene look of Katong Park was used as a resort back in the 1950s or 1960s. At the Dunman High School which is just nearby, there also lies the swimming club, and you will see that the area is very liveable. Nowadays there are also childcare amenities in the area. In total, Meyer Road garners a unique and rare quality that gives you personal space.
As you can see, condominium property can give more than what it is worth. Today, as businesses are more and more into investing in condominiums. It becoming a practical asset because of its location to business districts. Owning a condo unit is beyond having a place of your own, rather it is having a fixed asset that can give you returns in the long run.