Hi Jun,
If you can stretch an additional 100K to 1.1M, you can get a property in The Icon that will give you a better ROI. Of course, I know this will be totally out of what you are asking about. That was just my thought when i first saw your question.
With regards to your question, you are probably talking about melville park and Estella Gardens. Based on the limited information i have regarding your needs, here are what i have for you..
1. Immediate returns, do a analysis on what your immediate return of investment you will get when you buy either property. If you are risk adverse, this will help you to reassure yourself when you buy.
2. Pass performance, you can take an analysis with its past performance to determine what prices it might be able to fetch in the next cycle to come. Use the performance from 97/98 to determine. Plot out the chart and you should see where your support prices are. In layman's term, if there are people who bought similar sizes in 97 peak at higher prices, its highly likely that another someone will offer the same price again when the cycle reaches its peak.
3. Potential upside, based on the location you are talking about, its mainly developed places.. so do not think its that related. The only way i would think that your prices will be pushed up suddenly is if a developer suddenly launch a nearby development at high price.
If you got more queries on what i can provide for you, feel free to contact me.
Ken Tan
96461490
Huttons
more info, go to www.96461490.com
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