The recent launch of Commonwealth Towers condo in Singapore was quite interesting. I had a look at the recent news which basically shows that the Singapore property housing market was cooling off.
Maybe it works both ways because people may have the perception that this is a really good time to buy property in Singapore.
Either that or there are a lot of Singaporeans who are really looking for a new property to get their hands on. The recent Commonwealth Towers condo preview launch was considered quite a success.
With over 1500 people that came on the Sunday launch with tonnes of questions and ready to plonk down booking fees to own a unit or several units of the condo, the developers of the project City Developments Limited and Hong Leong are very well pleased with the response.
This shows that there is still a strong demand for new properties that are being developed in the island republic. With so many locals and foreigners that make Singapore their home, housing is always a constant need. There are also quite a number of foreign students who come to Singapore to study so they will also be on the lookout for a place to rent along with the huge number of foreigners who work here.
And with so many people looking for a place to stay, any new property launch that is located near an MRT station and within the fringes of the city center is bound to have a lot of interested property buyers who will pounce on it. Just think about it. You would rather pay a monthly home loan installment than to keep paying high rent. So in the long run, you might as well have your very own home.
And those who own property in Singapore such as Commonwealth Towers could also make a bit of side income if they choose to rent out their available rooms. Well, the side income will go towards helping them pay their home loan. That is if you don’t mind having a bit of squeeze if you happen to be living in a 1 or 2 bedroom residential unit.
But with the cost of living being so high, it’s either you choose to stay put or move out of the island. Many who choose to live and work in Singapore would rather rent as it is very expensive to own your own property.
For more info on Commonwealth Towers, please click here http://www.commonwealthtowersqueenstown.com/