Singapore is a hot spot for property seekers and investors who want to own a piece of the Lion City. With new condo launches happening every year, there is no shortage of options for different tastes and budgets. However, finding the best bargains among these new launches can be challenging, especially if you are not familiar with the market and the projects. To help you out, here are some tips on how to score and find the best bargains or deals in Singapore’s new condo launches for 2023.
1. Do your Homework.
Before you dive into the new launches, you should do some homework on the market conditions, the location, the developer, and the project specifications. You should know the current and future supply and demand of properties in Singapore, the average prices and rental yields of different regions and districts, the growth potential and amenities of different areas, the track record and reputation of different developers, and the unique selling points and features of different projects. You can use online platforms such as Smartmortgagesg, New Launcher, 99.co, EcoProp, and ERA Singapore to get the most updated information on new and upcoming property launches in Singapore, including new-launch condos, apartments, and landed homes. These platforms also provide virtual tours, facilities, floor plans, brochures, prices, and discounts for each project.
2. Shop Around.
Once you have a shortlist of potential projects that match your criteria and preferences, you should shop around and compare them based on various factors such as location, size, price, design, amenities, facilities, tenure, completion date, and developer reputation. You should look for projects that offer good value for money, high-quality standards, attractive designs, convenient locations, comprehensive facilities, favourable tenure terms, timely completion dates, and reliable developers. You can use online tools such as Property Guru Smartmortgagesg, and SRX to compare the prices and features of different projects and see how they fare against each other. You can also visit the show flats or sales galleries of the projects to get a firsthand impression of the actual units and the surrounding environment.
3. Seal the Deal.
After you have narrowed down your choices to one or a few projects that offer the best bang for your buck, you should seal the deal as soon as possible. You should contact the developers directly or work with a reliable property agent to get the best price and highest discount for your desired unit. You should also look out for special offers or incentives that the developers might offer during the launch period or festive seasons. For example, some developers might offer free furniture vouchers, stamp duty rebates, early bird discounts, or lucky draw prizes to entice buyers. You should also be ready to pay the booking fee and sign the option to purchase (OTP) once you have decided on your unit. The booking fee is usually between 5 to 10% of the purchase price and the OTP gives you 14 days to exercise your option.
Finding the best bargains in Singapore’s new condo launches for 2023 might seem overwhelming at first, but with some homework, shopping around, and sealing the deal, you can achieve your dream home or investment property at a reasonable price. Happy hunting!