Factors to Consider While Investing in Singapore

A lot of residential Singapore property sales actually compose of buying property in Singapore at new launches. Indeed, these are commonly households or residential properties that are still being developed and are being sold newly constructed by credible developers.

Check this for Guide to Delving into new property launches in Singapore

A developer who aspires to sell units in an unfinished development, for instance, the one which has just launched construction should initially secure a license. After this is carried out, he may carry on selling the units in his development. Afterwards, he may launch the development for sale in an official manner, typically with the help of publicity as well as advertisements in prominent newspapers.

Typically, even before the authorized launch of the sale development, the developer will have a soft launch with a preview referred to as Very Important Person (VIP) in which buyers are motivated to purchase units first. At this period, investors can enjoy early bird discounts.

Furthermore, the advantages of buying at this period are to initially obtain or select premium units and these are commonly offered in much reduced costs.

What or who is a marketing team member?

Developers can facilitate property launches in Singapore by means of what is known as in-house marketing team. And, this can be performed by electing so-called external real estate agencies to work on the aspect of marketing. Additionally, agency agents are referred to as sales office or team. Their job is to encourage buyers and obtain sales.

How to sign up for a VIP Preview?

For you to have the opportunity to attend VIP Previews, it is important to contact the real estate agent who acts as a member of the marketing team. This agent will be glad to demonstrate to you the specific features of the project which are happily provided by the developer.

In the same, way, if you prefer, you will be signed up for the Very Important Person Preview. This usually comprises of exhibiting a form listing of your preferred units of particulars with your cheque. Meanwhile, other more valuable documentation will be administered by the agent.

Guides to Pre-signing up for Singapore Property Sales Previews by yourself:

  • Get in touch with the agent so he can transmit to you the needed documents.
  • Assess the unit plans. After that, carefully decide which unit type you prefer to buy.
  • Go over the site plan in order to determine which blocks contain the type of unit you have chosen and the facings, levels and blocks you chose.
  • Finalize the Authorization and Purchaser’s Particulars Forms; keep in mind that these must compose of your preferred units.
  • Arrange and authorize the cheque. This shall be essentially utilized for the option fee.
  • Be certain to print out a photocopy of the front and back section of your NRIC and also a photocopy of the detailed page of your passport.
  • Get in touch with the agent to collect necessary documents for priority booking.

How to Avail Big Discounts at Singapore New Property Launches?

Developers may offer discount in such cases like:

  • Removing the remaining stock when a development is relatively or totally sold. Even if the impression is generally that the final few units should be less attractive, you may actually attain a few excellent bargains.
  • Stimulating demand in a market that’s slow-moving. Perhaps, the most exceptional period to request for a discount is when the market is laid-back. Just like in nearly all investments, the most advisable period for investing in Singapore property is when other people are not purchasing.
  • You may avail of up to ten percent discount of Early Bird Discounts at the preview before the official launch. The objective of this is to stimulate demand and to come up with a buying momentum. When this objective is accomplished, the developer will then eliminate the discount so to optimize the profitability or value.

Project Account Defined

It is required for project developers to open a project account for each housing project he gets involved in with a bank or financial institution before the time he is provided with a license to sell units in his development otherwise known as Sale License.

Be reminded that all payments from investors or purchasers prior the culmination of the development project and also the construction loans will all go to the project account. This can solely be withdrawn to pay for the said project. On the other hand, request for funds release must be secured by appropriate documentary verification and authorization by the builder at the time of the finishing of each phase. And, the auditor must validate that the funds have been withdrawn in agreement with the standing order.