Even though Parc Olympia has TOP for a few years now, its prices have never been ridiculously spiked up due to flippers trying to make a quick profit. In fact, even the asking prices have been quite reasonable, and in fact relatively similar to that of what it went for first hand. While this may sound like a nightmare for those who like flipping properties, it is potentially a good buy for those who want to actually live in it for the long term rather than trying to make some capital gains.
For those who are skeptical of why Parc Olympia has not been rising in prices and worried that it may be to do with the development inner flaws, it is not. Some reasons for most apartments within it having a ‘reasonable’ asking price are as follows:
- There are several new developments coming up around it after it was developed. That has increased supply of condos in the Flora Drive area while there are only so many buyers. Call it somewhat overdeveloped – that is why many units in the condo developments around the whole area are always open for renting or empty. (However, if you intend to actually stay for the longer term, this is not a concern for you.)
- It is not near any MRT stations at all, existing or potential new ones. Additionally, there is a new bus stop right in front of the condominium compound now, but bus services are sparse and few between. Therefore, those without a private car may not be overly motivated to overpay for a unit here. (This makes this project a potential good consideration for the people with vehicles and do not mind lack of lots of access to public transportation.)
- It is a 99 year lease hold property, and some speculators and flippers prefer freehold ones as they tend to flip for much better prices. (However, if you do do not mind a 99 years leasehold condo, then it could be a good one to look into.)