How To Select A Resale Condo
How To Select A Resale Condo
Today I am going to share how I help my clients to select a resale condo.
Based on my experience and from all the data and research, I’ve come up with a checklist that you might find it useful for you.
From 2022, these are the top 5 resale properties with the highest profit margin, namely The Mayfair, Kovan Melody, Kerrisdale, Mandarin Gardens, as well as Cote D’Azur.
The capital appreciation has gained close to 100%.
I’ve spotted similar characteristic among these 5 condo, and if buying a resale condo with the same attribute, you may tend to profit more in the future.
The #1 factor will be, all these projects are within 500 meters from the MRT station. The distance to station the furthest away being 400 meters the closest as close as 180 meters.
I’m just taking an example of this top 5 resale condos, trying to get the similarities and try to project, that next time if you buy a resale condo these are some of the factors you can consider, so that you are more or less guaranteed a good profit gain in the near future.
For Kovan MRT, can see from the chart itself, those that are near the MRT Station, the gain is 54.3%, whereas slightly further away from the MRT station is 39.4%
Point #2, all the projects are within 2 km from popular school.
They are mainly within 1 km radius. Most of the buyers they prefer to buy a condo that’s near to good school. Buyers that wants to upgrade or right size, their main reason is because they want to move closer to their kids school and from this 5 projects you can see that most of the condos are within 1 km or even 2 km to a popular good school.
How distance affect priority admission?
Based on our Singapore MOE guideline, Singapore citizen living between 1 and 2 km, they have priority into getting the school.
Point #3, majority of the projects have improved accessibility due to the opening of a new Expressway. The top 5 condos, last year in 2022 they have a new Expressway which is KPE, that help them to push up the price even further.
Case study, which is the KPE effects on the Marine Parade. KPE opens in September 2008, the exit located near condos in Marine Parade this map itself, the more upon opening of the KPE in September 2008. the growth is way much faster, increased for 43.4% compared to 2000-2008 is around 34%. This shows with an opening of a new Expressway, accessibility helps to increase the price growth.
The next upcoming will be the North South Expressway, it cuts through from the North of Singapore, down all the way to the southern part, which is also the East Coast area. It’s a 21.5km Expressway to facilitate the movement of cyclists, pedestrian, and buses. It will be largely dual three-lane highway, and one of the lane will be reserved for express bus services.
Point #4. Majority of the projects are within walking distance to a dining and a shopping mall. In Singapore, convenience near to amenities also one of the Top Choice when buyers wants to shortlist for resale condo. True enough the data that we have collected from this top 5 condo resale projects, they are all within either to a hawker centre or a major shopping mall.
This is a study done by a PropertyGuru. According to PropertyGuru consumer sentiments study, proximity to F&B outlet and malls – 61% of the respondents say that this is one of their top priorities, mainly due to Covid-19, spending more time working from home.
These is the checklist. If you’re buying a resale condo, it’s going to be near within 500 meters to MRT, within 2 km to a popular School best within 1 km, near to a shopping mall or F&B or even hawker centre so that it’s easy for you to buy food, and lastly is there any improvement or any upcoming Expressway or major roads that helps to increase the accessibility.
This is the end so if you have any question just feel free to drop me a message. Thank you
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