7 Reasons Why You Should Invest In a New Launch Condo In Singapore In 2023
As an investor, you always seek the best opportunities to make money. One of these is investing in a new launch condo in Singapore for 2023. With the current real estate market booming, this could be just what you need to get your hands on some lucrative returns with minimal effort. Here are 7 reasons why you should invest in a new condo launch 2023:
1. Potential Capital Appreciation
New condominiums tend to appreciate more than existing ones due to their modern design and amenities, as well as the fact that they are newly built and buyers often want something “brand new”. This increases the likelihood of capital appreciation compared to older properties, making it an attractive option for potential investors.
2. Lower Loan-to-Value Ratios (LTV)
When buying a new launch condominium, banks usually offer lower loan-to-value ratios (LTVs). This means that buyers have to put less of their own money down upfront and can borrow more from the bank if they need to, which can help with cash flow management during the purchase process.
3. More options available
A wide range of options are available when buying a new condominium unit, from basic layouts to luxurious penthouses or specialised units such as loft apartments or serviced apartments with attached hotel facilities. This gives buyers much more choice than in older developments, giving them flexibility in deciding which type of property is right for them.
4. Possible discounts from developers
Developers may also offer discounts on list prices for certain units in newly launched projects as part of promotions or sales incentives, so investors should check for any offers before committing financially. Furthermore, developers may also be open to negotiating prices depending on demand and competition at different times of the year – so keeping abreast of market trends can really benefit savvy investors who know how and when to strike good deals!
5. Accessible location and amenities
The majority of new launches are located close to public transport, shopping centres and other leisure centres – providing convenience and accessibility for future owners or tenants alike, while state-of-the-art facilities within each apartment itself add further value for residents by offering a high standard of living. Investors can therefore be assured that their investment will remain attractive both now and in the future.
6. Government Tax Benefits
The government offers tax benefits such as Additional Buyer Stamp Duty (ABSD) relief, which allows eligible buyers/investors to save up to 10% on the purchase cost – an important consideration if one decides to invest in several projects at once! In addition, there are various grants available through schemes such as CPF Housing Grants or Home Improvement Programmes; all of which combined can significantly reduce the total cost of investing in a brand new development.
7. High rental yields for investors
As rental yields tend to be higher than mortgage repayments – especially in periods of low interest rates – investing in a newly launched apartment is an even more attractive proposition, offering stability against any market fluctuations. In addition, short-term leases become easier upon completion, allowing investors who are solely interested in renting out their property to access immediate income streams after purchase without having to wait long periods between lettings. All in all, investing in a newly launched condominium seems like an excellent opportunity, not only for its potential capital growth, but also for the associated tax benefits / high rental yields that sweeten the deal! With careful planning & research upfront, coupled with sound financial advice, investors stand ready to reap handsome rewards come 2023!