Steps To Invest In Condominium
Choosing to invest in a Provence Residence EC condo requires the right steps. If this is not the case, competition and offers from other investors are more attractive to condominium tenants or buyers. The following steps, for example, should be taken into account if you are interested in investing in the condominium sector. For the condominium target to be right, an investor will know the purpose of his investment. Therefore, it is necessary to look at the investment interests, namely the long term or the short term. Short-term condominium investment means that investors are interested in buying before the construction will then be sold back when the unit is finished.
Meanwhile, in long-term Provence Residence investments, investors will buy and then sell them again in 5 – 10 years. The current condo investment target is supported by unlimited occupancy. Its customers are not only expatriates. Many local consumers are currently switching to vertical housing due to the limited supply of affordable housing. Some consumers are accustomed to living in apartments or condos while still studying abroad. For this reason, an investor needs to see who the targets are according to the location of his property. For example, condominiums in suburban target the expatriate market, while condos in central of the city target business people in the business district area.
Choose a unit and developer. For investors, a successful condo investment step is inseparable from the importance of location. A premium location with the right target like Provence Residence EC is an absolute requirement. Besides, investors need to consider how condominium developers are doing. Investors should not buy condominiums from a developer with a large number of units built. Due to the booming sales of condos, too many units will be more difficult when resold. To make a profit, the condo investor buys the unit at the time of the pre-sale. Then, the unit is sold when the condo is finished. For condominiums that are sold 2 – 3 years after the construction is completed, they can get a profit of up to 80%.