Oftentimes, we read about new launch condos with take-up rates of 90 to 100% of total units sold within the first week or two of launch – if not within a day or two. There are many reasons for their popularity: lower quantum, location, developer cred, attractive psf pricing, lifestyle promise, etc.
Most tenants aren’t bothered if the project is near a cemetery or prison complex, as long as there’s no noise, pollution or disruptions to their lifestyles. Located at Flora Drive, Pasir Ris, the 99-year leasehold project was developed by a consortium that included Hong Leong Holdings, City Developments and TID . It TOPed in 2017.One reason for the concern was that The Inflora was located near Changi Prison Complex, which might make marketability a challenge to some buyers. However, landlords know this wouldn’t be a problem for short- to mid-term tenants, especially those working at SATS Maintenance and Inflight Catering Centre and Changi Airport.
For the two-bedroom units, the story’s different. The average psf price has increased by a much lower 5.10% from S$948 to now S$996. For investors, it doesn’t look like a good time to sell their 2-bedders anytime yet, so what can they do?
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