Whether you are going for high capital appreciation or rental yield, a salient factor will always be location. Straits Times has recently launched an interactive graphic map to show all properties (fully sold and unsold) that are completing in 2016 and 2017. Using this tool will enable you to find out where are the so-called key locations for a good investment property. Here are some simple steps to go about doing so.
Step 1 : Understand the Table Legend
There are 2 shapes on the map, a black square and blue circles of different sizes.
- A black square indicates a project that is already fully sold.
- A blue circle indicates a project that has unsold units available, the bigger the circle, the more units available.
Step 2: Zoom into those Fully Sold Projects
Generally, fully sold projects are snatched up quickly either have a good price or a good location. Without starting from scratch to research and find where are the good locations, an easy yet pretty accurate approach is to follow where are investors buying now.
Step 3: Evaluate Remaining Unsold Properties Around the Fully Sold
Do some research and evaluate the remaining projects to see if there are negative reasons not to buy them even when they are in a good location. Here are two examples of unsold properties around the fully sold ones.
Step 4: Don’t Neglect Good Locations With No Fully Sold Projects
There are certainly good locations with zero fully sold project (yet), that does not mean that their potential is less than those locations with fully sold projects. Here are some areas where projects are almost getting the title of ‘fully sold’, it is still not too late to look into them.
Step 5: Shortlist a Few Properties and Start Hunting
Now you should have found some good unsold properties in good locations. Happy hunting for your next home upgrade or investment property!