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Everyone thinks location is the biggest factor that will affect a property's value. And yes, that is true. But so do other factors like economic growth, population growth, and in the particular case of Singapore - Government intervention (cooling measures). However, these are the obvious ones that everyone knows. Here are some negative factors that most people will not consider!
1. Competitively price new launch nearby
While most of the time a new launch that launches nearby will have a positive effect on the immediate vicinity, there are also times when a new project is priced so competitively, that its neighbours resale values get affected.
2. Number of renters
There are developments built specifically for renting out. You'd usually see these with projects that have just 1 and 2 bedroom units. So while rentability may be good for some of these, the problem comes in when investors have made their money - and are willing to let go at a lower price to exit quickly to fund for other investments.
3. Superstition
Everyone knows in Singapore that 8 is associated with prosperity and 4 is avoided for bad luck (it sounds like death in Chinese). But for those that don't believe in superstition, don't forget you could be selling in future to someone who might.
4. Maintenance of the development
First impression always counts. Take note when you are doing your viewings to spot maintenance issues with the place. Some properties may only be a few years old, but poor maintenance could make it look much older instead.
Chapters
0:00 - Introduction
0:36 - Superstition
2:51 - Bad Neighbours
4:08 - New Builts
5:45 - Competitively-Priced New Launches Nearby
6:50 - Number Of Renters
9:01 - Maintenance Of The Development
11:33 - Conclusion
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Stacked is an online editorial aimed at helping Singapore home buyers, sellers, and renters make better decisions. By regularly conducting research and publishing our findings, we hope to give our readers a much better perspective on buying, selling, or renting Singapore real estate.
Editorially independent, our articles are published in-house and do not receive sponsorship. We hope to provide unbiased, reliable content that our readers can use.
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