Location is key in home investments
BUYING a home or investing in a residential property may be a daunting task for many here, but one key indication of a good buy could be its location.
When looking at residential properties, location is important, said Mr Eugene Lim, key executive officer of Singapore's largest real-estate agency, ERA Realty.
Bishan is one of the choice locations for home investments, said Mr Lim, who has been with ERA for over 15 years.
He pointed out that its "convenient" location in the Rest of Central Region, which is close to the city, "continues to attract interest from home buyers despite recent curbs on housing loans".
One project in the region successfully marketed by ERA is the top-selling, newly launched Sky Vue. Just a three-minute walk from the Bishan MRT station, the 99-year leasehold development saw 86 per cent of its 505 units sold in September. The median price last month was $1,434 per sq ft.
Other property hot spots include those in regional centres, such as Tampines, Jurong Lake, Woodlands and Seletar, Mr Lim said.
The Inflora condominium, a 99-year leasehold project situated in Flora Drive in the Tampines area and marketed by ERA, achieved a 98 per cent take-up rate for its 396 units. The median price for each unit was $952 per sq ft.
"(Due to) the Government's decentralisation strategy, these areas will continue to command a premium," Mr Lim said. "These locations have commercial areas, which will bring jobs closer to home, save travelling time and make it convenient for all."
Mr Lim said that, among the residential sites newly released for sale, homes in Upper Paya Lebar Road are expected to be popular. "The site has potential as it will be near the upcoming Bidadari new town and Paya Lebar commercial hub," he said.
To help with house-hunting, ERA has released the i-ERA app, which can be used to locate property listings in different market segments through search filters.
Home buyers can use it to find the right property on the go, and share listings with family and friends via social media.