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A new condo can often demand a higher rental rate. People looking to rent are typically willing to pay a higher price for a recently built unit within a contemporary building that offers updated amenities and well-designed layouts. As a result, a new condo is naturally more attractive to potential tenants.
Of course, there are also some risks associated with purchasing a property with a limited remaining lease. As the lease shortens, the property may become less desirable to potential buyers, making it harder to sell in the future. Additionally, if the property is not well-maintained, it may incur significant renovation costs to attract buyers. Therefore, it is essential for potential buyers to do their due diligence and carefully consider all the factors before making a decision.
First and foremost, let’s understand what a 99-year leasehold condo means. In Singapore, most properties are built on a land lease basis, …
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