3 Reasons why buying a condo is good for Singapore
Singapore is one of the most ideal countries to invest in because it has a very active and stable economy. It has proven to be resilient to many economic crises over the years because it was able to withstand most of its effects. For example, the current pandemic-induced pandemic has a minimum effect on its prophet market. Its economy has been relatively resilient so far. Many businesses from different industries like technology, manufacturing, food, and beverage, and many more have been triumphant in setting their foot on Singapore’s economy. One of the most successful markets is its property market.
This is because the demand for property in Singapore just continues to rise through the years. This continues to rise as businesses also continue to set foot in Singapore and open many job opportunities. These job opportunities are not just for Singaporeans but foreigners as well. This is why there is a continuous increase when it comes to the demand for property.
In Singapore’s property market, one of the most popular commodities is condominium. This is because it offers many perks and advantages. There is growing popularity when it comes to acquiring a condo unit. Nowadays, Kopar At Newton Condo and Vedale condo are two of the most famous developments. Kopar At Newton Condo is famous for its amenities. While Verdale condo is more desirable for its location. Buying condo units are also beneficial for Singapore’s economy. To know more here are 3 reasons why buying a condominium is good for Singapore.
#1 Frees up more units for those who need it
It is not news that condominiums at Kopar At Newton Condo are relatively more expensive. Even units at Verdale condo are not cheap. In Singapore, there is a more affordable housing option which is true for the Housing and Development Board. These houses are usually subsidized by the government. These housing units are cheaper however they are of limited quantity.
When people who can afford condominiums choose to buy that, there will be more HDB units available for those who need them more. Anyone is open to apply for HDB units however due to the limited quantity, not all are approved. That’s why when people choose to buy a condominium, they are also allowing people who have less financial capacity to afford decent housing.
#2 Maximize the limited supply of land
When there is a high demand for a commodity, suppliers tend to make more of it. The same case is true for condominium units. Since it has become more popular, developers like Kopar At Newton Condo are emerging. When developers continue to build this kind of housing type, there will be more land maximized. This is because condos are high-rise buildings. With a smaller quantity of land, there can be more units compared to building bungalow homes. In a country with a limited supply of land, condominium units like Verdale condo are the most suitable.
For example, the developer can make up to 300 condo units on a certain amount of land. On that same amount of land, only 3 houses can be built. The difference between these numbers is very significant especially when there is land scarcity.
#3 Can be more suitable property investment
Since the Singapore property market has proven to be relatively resilient to the pandemic-induced recession, one smart investment is a condominium unit. It can be at Kopar At Newton Condo since they offer one of the best deals. It can also be at Verdale condo which also offers many perks and advantages.
Investing in a condominium is one of the safest especially now because the value of land and infrastructures usually just appreciates. It is very unusual for a piece of land or property to depreciate over time. In all of the markets in the economy, the property market is one of the most secured investments one can make.
As there are many industries in the food and beverage, technology, and even manufacturing industries that are shutting down, the property market continues to be resilient. There are many choices like the Kopar At Newton Condo which still has units available. Or the Verdale condo which can also accommodate more tenants.
Learn more about Singapore’s property market
There are many more effects of buying a commodity that we realize. Even buying a condo unit presents many perks that we can see. Know more about these things in SRX Property. Visits us today!