Location, location, location. Coined by Harold Samuel in 1944, this famous mantra has been uttered many times over the years whenever someone is asked about what makes a good property. But is it really just all about location? For example, there are properties that seemingly have it all. They can be located very near an MRT station, within 1 km...
An example of this would be The Ola EC, which is in front of Sengkang General Hospital – some people may like that , while others may worry about ambulance sirens at night. It may also be a Fengshui thing, where the general advice is to not face the entrance of the morgue.
This is also true for homeowners. If you buy a property in an advanced state of lease decay, you’ll have fewer options later; such as the possibility of right-sizing if your retirement funds are negatively impacted. Typically, this would be the case for smaller boutique condos of just a few units. When you are looking to buy a unit there in 2023 but the last transaction was in 2019, how would you value the new price to pay for the unit?
Any incidents where tenants willingly broke the lease, for reasons related to the development . You’ll need to check if those reasons are ongoing problems.6. Layout