The common four- to six-year wait for a new property to be built can be quite a nerving time. It makes planning for the future a little tricky and may not make for the best short-term investment.
Photo: Tropika East condominium
Purchasing a property which has already attained its Temporary Occupation Permit (TOP) however, could save you a lot strife and worry. For buyers purchasing for occupation, TOP-ready units are available to move into right away and often with renovations all done. That saves not only time but money. And for those who are looking for investment opportunities, private properties which have attained their TOP can be leased immediately. This year will see a total of 27,149 private condominium units from 71 TOP-ready projects. Another plus point is that buyers can physically inspect these units for their pros and cons instead of doing guesswork from just looking at brochures and show flats which may leave a margin of error.
Photo: Jade Residences
Properties in some popular suburbs are finding ready buyers are euHabitat and Tropika East in the East, Jade Residences in Upper Serangoon, Echelon in Jurong, Bartley Ridge on Mount Vernon and Sky Green condominium in MacPherson. These residential projects with ready units are situated in prime city fringe or Outside Central Region districts. In the central regions, TOP-ready projects to look out for include The Scotts Tower, Robinson Suites and 26 Newton.
However, not all projects with TOPs are equal. It is always wise to do your research and understand that location is key, and getting a solid valuation done on the property using private and public research sources or engaging experienced property agents will help you get the best out of your property purchase.