Some quick tips for property investors, according to The Straits Times, Singapore.
1. Be sure to do your research. Take time to understand the dynamics of the market and don’t be a ‘sheep investor’, buying impetuously without first checking out the financial viability of the investment.
2. Six words to remember when researching a market: Legals, borrowing, liquidity, yields, tax and currency.
3. Look for properties built by established developers with good track records, especially if you’re investing in a developing market.
4. Choose properties that can be supported by the local market – homes that will attract locals to rent.
5. Always engage a lawyer to read all the legal documents, for example, the sales purchase agreement and deed of mutual covenant, which contains terms that are binding on all flat owners of a multi-unit building.
6. If you can, invest early. Try to take advantage of the aggressive prices offered by developers at initial launches.