Should you buy the latest launch North Park Residences in Yishun?
Yishun is primed for the its upcoming condo launch in 2014, with the North Park Residences, a condo of over 900 units to be launched. It houses a range of units from studio apartments to 5 bedrooms and cater for all groups of people alike.
However, just like any property you buy, it is important to know more about the project. It can be your new home, or your new investment home.
If you are looking to buy a unit at North Park Residence, you have to first know the purpose of buying it. If you are buying it for an upgrade of your lifestyle from a HDB to a condo, then you have to see how big a unit you are getting for yourself and your family. Not only that, you also need to see how much additional money you have to fork out to purchase the new unit at North Park residence.
If you are looking to purchase it as an investment, then you have to look at the investment side of things. You have to see how much money you are willing to invest in properties. You have to see if you have the capital power to hold on to the unit, in case of a low rental yield. This is important because many people thinks that Singapore is always in high demand, and there will not be a lack of apartment rentals. They are really wrong!
Demand may not drop, but rental income will drop. You don’t want your rental income to be lower than your monthly mortgage. If not, you are losing money on your investments!
On a side note, you can also look at how North Park can be a convenient place, even if you are staying there, or renting it out. It is convenient with many amenities around it, especially in a matured area like Yishun. Located along the north-south MRT line, you can reach Orchard or Somerset area within 20 minutes of MRT ride.
Singapore’s property market may be hit with many government cooling measures, but one thing we must note is that people are still on the lookout for opportunities, even with these cooling measures around. While some may see this measures as a hinderance to good investment profits, some may see it as a way for property prices to fall before they enter.
If you are considering North Park Residence as your new home or investment, you can request for more information the the website. The assigned team will get in touch with you to arrange for a VIP preview of North Park Residences, to give you a better idea on how you can fulfill your goals with the residence project.