Geylang Condo For Investment

[verbatin 0]

Hi I am interested to buy a geylang for investment purpose (not for staying).

Have asked around friends and here are their opinion

Pros

1. Good location (15 min to city)

2. Good rental yield of 5% or above (since purchase price is cheap). yield is higher than bank loan interest.

3. Freehold. You can't get freehold at such price in land scarce S'pore

4. Geylang may be moved to somewhere else in the future? then property price there will go up. but that's has to be maybe 15-30 yr later.

5. 6.5m population in 15-20 yr's time. Property rental will be in demand. Though HDB now relax the subletting rule but generally pple regard HDB as their home and not for renting to get income

6. Ready supply of tenant as there will be single pple who doesnt mind stay there

Cons

1. Bank are generally not willing to grant a loan

2. Difficult to sell in future due to buyer not able to get a loan. Must be prepare to keep it for very long term

3. Generally tenants there are of a "lower" quality

4. Lot of fighting/crime rate there

5. Tenants bringing in illegal workers and implicate the owner of the condo

Any comments?

Thanks

Edited April 6, 2007 by verbatin

[korea 0]

geylang??? if you want to do investment then geylang isn't a place for you. you should find properties located around orchard areas. if i got the $$$, i'll never buy a condo at geylang whether for staying or investment. my hubby also doesn't like the place.

[verbatin 0]

thanks.

I will not want to stay at geylang either. It's for investment purposes. The high end condo at orchard is only for the very rich. 99 year and rental yield is pathetic.

Geylang are "undervalue" in relation to orchard property. Orchard property are beyond us and suscepitable to greater fall if recession kicks in.

of course for geylang i will buy and will not sell it for the next 20 year (cos difficult to sell)

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geylang??? !! if you want to do investment then geylang isn't a place for you. you should find properties located around orchard areas. if i got the $$$, i'll never buy a condo at geylang whether for staying or investment. my hubby also doesn't like the place.

Edited April 6, 2007 by verbatin

[korea 0]

thanks.

I will not want to stay there either. It's for investment purposes. The high end condo at orchard is only for the very rich. only 99 year and rental yield is pathetic. of course for geylang i will buy and will not sell it for the next 20 year

usually, it's very difficult for the bank to approve you on the loan. maybe due to the location. i'm sure there're other areas besides geylang are good for investment. !!

[verbatin 0]

Thanks.

I know of one finance house willing to grant loan

I will check whether bank/finance house can give me loan or not. it's due to the location that bank are not willing to grant loan (as bank will have difficult disposing of it in the future).

other location the rental yield are not great. Freehold will cost at least 500k in other location compared to around 350k for geylang

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usually, it's very difficult for the bank to approve you on the loan. maybe due to the location. i'm sure there're other areas besides geylang are good for investment. !!

[korea 0]

it's due to the location that bank are not willing to grant loan (as bank will have difficult disposing of it in the future).

ya, agree. !!

[MaCe 3]

geylang can get very good rents.

even during the bad times, the rents there are at least 10-20% higher than most lowend condo/hdb estates.

[mercsboy 0]

usually, it's very difficult for the bank to approve you on the loan. maybe due to the location. i'm sure there're other areas besides geylang are good for investment.

do u know how ex are the condos there or not? my hubby family also stayed in geylang...there are different areas one...those lorong 40 areas are the most ex areas and safe...

and most important, they go work at shenton only 15 mins~~ and then dun be surprised tat staying there ones are rich china ppl.... jurong go town can reach in 15 mins or not??

geylang can get very good rents.

even during the bad times, the rents there are at least 10-20% higher than most lowend condo/hdb estates.

ya...i heard tat the few condos at lorong 40 there are quite ex~~

the rental also not cheap...

[korea 0]

do u know how ex are the condos there or not? my hubby family also stayed in geylang...there are different areas one...those lorong 40 areas are the most ex areas and safe...

and most important, they go work at shenton only 15 mins~~ and then dun be surprised tat staying there ones are rich china ppl.... jurong go town can reach in 15 mins or not??

erm, we aren't interested in that area so not interested to find out the timing as well. thanks for your infor anyway.

[icer 0]

I also thought of getting an apartment in geylang. Basically, I also think that to get a freehold apartment at a centralised location, geylang is probably the only choice.

Not too concern of the area as I am single and no kids so safety not so much of an issue. Concern is whether can get loan or not and whether prices will go up or not.

Got a fren who bought a landed property there and sold it for a good profit.