Property tips and trends

When buying private property, real estate experts say some of the things to consider are location - proximity to transport nodes, towns, malls, amenities, good schools and landmarks. While developers will tout the numerous facilities in their project
When buying private property, real estate experts say some of the things to consider are location, proximity to transport nodes, towns, malls, amenities, good schools and landmarks.ST PHOTO: LIM YAOHUI

The local private housing market has been a hotbed of activity in recent years, with feverish collective sales and fast-rising prices that were put to a halt by the Government's cooling measures last July. However, sentiment has picked up and sales have been relatively resilient this year, with strong take-up rates for new project launches. Where does this leave prospective home buyers? Industry experts share with Derek Wong their tips on buying property and what trends to look out for.

• Location is always the top priority in property investment. Private property in a good location, near amenities like transport nodes, business parks, shopping complexes and good schools, always commands higher prices. It is also easy to find tenants to lease to for rental income.

• One should also consider whether the property is freehold or leasehold. However, freehold properties come with a premium. If you are buying a leasehold property, it is important to ensure the lease is long enough for you to live in it till age 95 so that there are no Central Provident Fund (CPF) or loan restrictions.

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A version of this article appeared in the print edition of The Sunday Times on June 09, 2019, with the headline 'Property tips and trends'. Print Edition | Subscribe