If you're new to Singapore's property market it may shock you to learn this, but freehold luxury properties may not be as good as investment as you may think. These properties are considered the cream of the crop - but ask many real estate veterans, and you'll often find they have lower expectations for these homes. There are some, of...
If you're new to Singapore's property market it may shock you to learn this, but freehold luxury properties may not be as good as investment as you may think. These properties are considered the cream of the crop - but ask many real estate veterans, and you'll often find they have lower expectations for these homes. There are some, of course, that make outsized returns, but you'd also find some familiar faces that keep cropping up.
The combination of being difficult to sell , plus the owners having no expectation of profit, raises the chances of a loss-making transaction. *This is because tenants don't pay more for freehold accommodation, despite the cost of the freehold condo being higher than a leasehold counterpart.We pointed out the Latitude transaction which saw a staggering $3.5 million loss to a realtor.
With luxury properties, however, there's less chance of this happening. These homes are launched in already established areas; typically the highest-priced parts of the city, where there's little room left for appreciation. "Freehold is a powerful draw when a condo is freehold-among-leasehold. But when you look at prime areas, freehold is really nothing special. Almost all residential in Orchard, Tanglin, Cairnhill, and such places are all freehold anyway, so it's not as big a deal.
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