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Apart from a home’s physical attributes, some other factors we look for when buying a property are location (near MRT stations), safe entry price, and potential upsides.

Out of the factors listed, two very important points in determining a good project to enter are:

Safe entry price & Price gap

Let’s take a look at this freehold new launch Terra Hill as a case study.

Taking a look at 99-year leasehold properties, the benchmark pricing for properties in the OCR and CCR starts from $2,1XX psf and $2,8XX psf respectively. In the case of RCR properties, its average price for a 99-year leasehold is $2,4XX. Considering the fact that a Freehold project like Terra Hill is going for $2,5XX, doesn’t it make sense that it is a safe buy?

Not convinced? Let’s go into more detailed figures:

Figure 1

As we can see from Figure 1, the average price of a 99-year leasehold in RCR for 4Q 2022 is $2,659 psf, and given that Terra Hill is a Freehold development selling below an average price of a 99-year leasehold at $2,5XX – it is quite easy to realise that the price gap makes it absolutely favourable.

Figure 2

Furthermore, in Figure 2, we can see the average price of new launch projects in the RCR with the range going from $2,526 psf to $2,882 psf. This is a bigger reason to determine that the entry price for Terra Hill is sound and makes it a safe buy

Summary of what makes Terra Hill a great buy in 3 key points:

1) Freehold property at leasehold price

2) Near the MRT station without paying a premium

3) The Price Gap between Freehold & 99 is very narrow, that makes it an attractive entry price.

Still Interested? Contact me to find out more.

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Real estate adviser you can rely on -Desmond Mok


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