Singapore has been experiencing a constant growth in its real estate industry for the past few years. The demand for housing in the city-state has been on the rise, with more and more people relocating to Singapore for work, business or study. With the high demand for housing, developers have been launching new projects, including new launch condos. A new launch condo is a term used to describe a newly launched condominium development that is still under construction, are known as Building Under Construction (BUC) Properties. Tembusu Grand falls under the new launch condo category, since the building is expected to complete in 2028. In this article, we will explore what a new launch condo is, and what makes it different from other types of property.
A new launch condo is a type of property development where a developer launches a new condominium project for sale before it is built. This means that buyers can purchase a unit in the development at an early stage, even before the construction has started. These units are usually sold at a discounted price, as a way of attracting early investors. The price of the unit may increase as the construction progresses and the demand for the property increases. Developer for Tembusu Grand has announced that the sales launch in Mar 2023.
One of the benefits of investing in a new launch condo is the potential for capital appreciation. As the property market in Singapore is generally stable and shows a constant growth, investing in a new launch condo can be a smart financial move. Investors can expect the value of their property to appreciate over time, especially if they purchase a unit in a prime location. Located in a popular neighbourhood Katong, Tembusu Grand will be one of the new launch condominium that has potential for an increase in property value in the long term.
Another benefit of purchasing a unit in a new launch condo is the potential for rental income. Many investors purchase a unit in a new launch condo with the intention of renting it out once it is completed. With the high demand for housing in Singapore, finding tenants should not be difficult, especially if the development is located in a popular area. The rental income from the unit can help to offset the mortgage payments and provide a source of passive income for the investor. Having said that, Tembusu Grand investors will not have issues looking for a tenant since it is located in a popular neighbourhood.
A new launch condo also offers buyers the opportunity to choose from a wide range of unit types and sizes. Developers usually offer a variety of units, ranging from one-bedroom apartments to larger family-sized units. Buyers can choose a unit that meets their specific needs and budget. Tembusu Grand will offer floor layouts from 1 bedroom to 5 bedroom. This flexibility in unit size and type allows for greater customization of living spaces, making it more attractive to potential buyers.
However, investing in a new launch condo also has its risks. One of the major risks is the possibility of project delays or cancellations. If the developer encounters unforeseen circumstances, such as funding issues or regulatory challenges, the project may be delayed or even cancelled. In such cases, buyers may lose their deposit or face difficulties in securing financing for other properties.
In conclusion, a new launch condo is a newly launched condominium development that is still under construction. A new launch condo such as Tembusu Grand offers buyers the opportunity to purchase a unit at an early stage, before construction is completed, at a discounted price. The potential for capital appreciation, rental income, and unit customization makes it an attractive investment option for buyers. However, buyers should also be aware of the risks involved in investing in a new launch condo, such as project delays or cancellations. It is important to do thorough research before making any investment decisions.