Hi,
Lets put it this way, $200k is sufficient for downpayment of 20% for a property worth $1 million.
You have to consider the following:
(1) What are expectation from this investment?
(2) Are you aware of current market trend?
(3) When are you expecting to receive your rental yield?
(4) How are you going to service your mortgage?
(5) Does your current income able to satisfy TDSR to loan the 80%?
In general, a new or Uncompleted porperty is a better choice. And the best price to enter is only during actual launch day, where you have to go through a balleting exercise to secure your unit.
So far, didn't see any property sold at a lost or give better discount than actual launch day.
And also do note that it is usually within that few hours to secure the unit at that price, 2nd day onwards might experience price hike.
If you don't mind to receive your yield in a few years time and receive a better capital gain later. I would suggest you go for new launch project.
Hope the above answer to your main concerns, but if there are more queries, please feel free to contact me at
90110636 , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636 ling.ck7@gmail.com
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