In The Money
Newer units have better facilities, older ones have more living space
In this fortnightly series, we address readers’ queries on investing issues. This week, we look at the value of older leasehold condo projects.
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A potential buyer checks out a planned new development in Singapore, in November 2021.
ST PHOTO: GIN TAY
Christine Sun
Q: My wife and I have sold our condo unit as we received a good offer and we are looking to buy another one. The prices of leasehold condos from the 1980s seem quite attractive. In addition to less chance of significant capital gains in the future, what other downsides should we be aware of? We are in our 50s and have two children in secondary school.
The private resale market ended on a strong note last year. There was a significant rebound in buyers' interest, and sales volume surged to a 14-year high.
