5 Telling Signs A Property Is A Good Buy | Singapore Property News

5 Telling Signs A Property Is A Good Buy

24 Feb 2020
Property News
Whether buying to build a family nest or for profit, making sure your property is a prudent, yet profitable investment is what we should be aiming for. Here are five signs you should look out for when buying a property.


Study Government Development Plans

For properties to have capital growth, one important criteria is transformation in the area. Study the URA Masterplan to find out which areas the Government has allocated for development. These areas will see a burst of infrastructure, transport hubs and various amenities. Key areas you can now consider are Jurong and Paya Lebar. Jurong is often hailed as Singapore’s second Central Business District, with developments like the Cross-Island Line and Jurong Regional Line that will link Jurong to the rest of Singapore. Paya Lebar, on the other hand, will see up to 12 hectares of land up for development. It is also close to the CBD, Changi Airport, and the SingPost Centre.


Focus on Value

Because buying property involves so much money, it is almost never wise to gamble. You should purchase yours at the current valuation or below, and not higher. Speculating that a property will appreciate and thus “payback” your investment is not a wise choice. Also, remember to check the historical PSF price trends, as well as latest transaction prices PSF to understand the market price ranges. SRX’s X Value-pricing offers you analytical insight that might just make the difference. 

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Location

You’ve probably heard this before, but it’s true. Location really is (almost) everything. Needless to say, being close to the city centre is a huge boon to the value of the property, especially if you are also renting it out. Outside of the centre area, look for properties that are close to transport hubs or commercial buildings like malls or amenities. Schools are great as well. However, prime location comes with a cost. You may want to strike a balance by moving further away but being close to public transport will always be beneficial. 

Brand Matters

Just as certain brands bring trust and value, so do the “brands” that build your properties. For commercial properties like office spaces or retail spaces, look for major chain brands. For residential properties, do background research on the developers. If you are looking to rent out the unit, check the vacancy rates of the area to have an indication of how “business” is going.


Be Ready to Strike

Financial ready 01

If you are actively and seriously looking for properties to buy, no matter the purpose, the first step is to make sure you are on sound financial footing. This means that you have done your loan assessment beforehand and can readily strike the iron while it’s hot (and available). Because there are many eyes on the market, a good opportunity may be snapped up by others if you take too long to commit. 
For valuable market insights, as well as the latest listings, visit www.srx.com.sg now.
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