Asians have a tendency to buy everything brand new --- new clothes, new cars, new houses, new furniture, etc. Here are some of the possible reasons behind this practice: • New products are usually marketed in nice settings with attractive gimmicks. • Acquiring new things make one feel proud, especially when there’re chances to show-off. • People feel great when they buy … [Read more...]
Why I won’t buy at new launch
Many Singaporeans, especially 1st time buyers, like to shop at condo new launch. Very often, units are booked with TOP dates a few years down the road. Not for me! 1) What your deposit means I know many people have strong 'belief' that the price of their unit will increase significantly by TOP. Honestly, unless you're quite sure that you're buying near the bottom; … [Read more...]
So you want a shoebox unit? (part III)
What happen when times are bad? Will tenants settle for shoebox units if the economy is not doing well? I owned one-bedroom units before. When the rental market is soft, tenants will say that they like the unit, but the 2-bedroom owner is willing to match the price. So for the same rent, they can have a spare room, just in case a friend or a relative wants to stay over. … [Read more...]
So you want a shoebox unit? (part II)
As a property investor myself, I have reservations about investing in shoebox units. On the surface, these 'Micky Mouse' units give buyers the impression of lower costs and more affordable prices. But in reality, the price per square foot is higher, so is the maintenance per square foot compared with bigger units. Rental of shoebox units In a TODAY article published on … [Read more...]
So you want a shoebox unit? (part I)
Recently, shoebox units are often discussed in the property column of local papers. Also known as Mickey Mouse units, shoebox units are apartments below 500 sq ft. Among the new launches, there is a long list of such development, including Altez, Vivace, Dunearn Suites, Eastwood Regency, etc. Some are slightly above 500 sq ft, including Spottiswoode Residences and Suites at … [Read more...]