One of the ‘cheaper’ priced condos even in Singapore’s resale market, is the Parc Olympia condo a good buy in that it may appreciate in the future?
Here we take a more in depth look into those topics.
It being a 99 years leasehold development, with several surrounding projects such as Ferraria Park and The Gale being freehold, and several others being 999 years is a losing point when it comes to long term appreciation. In the super long term, it even becomes a question of whether it can even hold its value. However, if you are looking to flip, you are probably looking at the super short term of just 1 to 5 years. Even then, there is a new project ongoing and right across the road from Parc Olympia, and that is The Jovell.
Convenience, and future developments around a condominium are among things that can cause your units to appreciate in value. There is a bus stop added to the front of the development just recently, but no MRT developments expected anytime soon, nor in the future anywhere near it. Looks like the addition of convenience for residents may be a tough factor to tick off. How about future developments? If there are going to be shopping malls or offices going to be built around it, it can increase the value of the units too. However, the only things being planned out already are just more condos around it… which means more competition and that is bad for its long term appreciation possibility.
From the looks of the above, the possibility of its prices appreciating over time is extremely slim, even if you got it at a discount, especially with more and more new projects around the island. The only possibility of that happening? En bloc. But even then, the chances are slim at this location due to it still being a relatively new condominium.
As mentioned in my previous post, I did mention that this condo may be a potential cheap buy. However, that does not necessarily mean that it is undervalued, and neither does it also mean that it will appreciate in value over time.