Singapore has one of the most complicated and complex property markets in the world. Its property market is affected by many factors as it has one of the most crowded and saturated economies. The movement and flow of the economy affect each other. That is why the number of big corporations and firms in Singapore affects the way people buy property in Singapore.
In a relatively small country like Singapore, there is also a limited source of land. Therefore the supply for housing units is also limited. That is why the demand for housing is not equal to the number Singapore can supply. This drives the property prices upward causing many individuals to have a hard time acquiring their own property. This is also one of the reasons why couples think twice or thrice before they buy property in Singapore. Buying a property in an expensive market like Singapore requires a lot of preparation, both mentally and financially. This ordeal may be exhausting as there are many options and it may get too overwhelming
For couples who are just buying their first property, it is more advisable to buy a studio apartment as it is relatively cheap compared to other units like those in The M Condo. Studio apartments present many benefits and advantages when you can land the perfect fit for you and your partner. To be able to find the perfect match here are 5 things to note when buying a studio apartment in Singapore as a couple.
One of the first few thighs that one must consider is their commitment to this big step. A couple must always remember that when they buy a property in Singapore, it requires a lot of money and effort. That is why the first thing to ask yourself before deciding to push through with this decision is whether or not you’re committed to going through this whole ordeal. There will be a significant amount of effort and time invested in this process to be able to find the perfect apartment for both of you. For example, there may be accessible units in the M Condo, however, it does not fit your budget. This would then require you to search more.
Being committed to this whole process is a whole different story when it comes to finances. It requires a large chunk of money when you buy property in Singapore. When you are still looking for one you would have to invest in transportation costs or even the fee of a property agent. Then the landlord would ask for down payments. These are just a few of the things that you must be financially prepared to successfully purchase a studio apartment in Singapore.
Another factor that couples have to note is the location of the studio apartment. When you are buying an apartment, you are buying for two people. You two have separate jobs therefore it would require you to choose one location that is near your jobs. The best way is to pick the location that is more accessible to both of you. This way, you can maximize convenience for both parties. One great example of a convenient or accessible location is where The M Condo is located.
#4 Size of the unit
Another important feature or consideration must be the size of the unit. Studio apartments are already relatively small since they do not have partitions. However, many great deals offer a bigger studio apartment at the same price as those smaller ones. It is important to be able to maximize the space given to you. Pick the unit in which you can maximize the potential. Examples of affordable but relatively big units are those in The M Condo. When you buy property in Singapore, there are many factors to consider and this is probably one of the most important of them.
#5 Resale Value
Another thing to consider is when you buy property in Singapore is the resale value. A studio apartment is enough for two people which makes it perfect for couples to live. However, once a couple decided to start a family, the studio apartment must go. This is why the resale value of the studio apartment is important.
Know more before buying one
Many factors affect how the Singapore property market works. Even properties as exclusive as the M Condo also depends on the trends of the property market. That is why one must be well-knowledgeable about various things in the real estate industry. Visit us at SRX Property to know more.