It’s one thing to buy a condo unit in the middle of cosmopolitan Singapore; it’s another to actually drive around. As you probably already know, if you have ever done any kind of driving in Singapore, car ownership is not exactly favored in this part of the world. In fact, Singapore imposes all sorts of penalties for car ownership. They really make it hard for people to buy cars, and it’s easy to see why.
You have to remember that Singapore is a small city state. It’s tiny, and if it had a very liberal policy regarding car ownership, this place could have been easily turned into a polluted swamp. That’s not an exaggeration. That’s exactly what happened to other parts of the world that were completely clueless about the planning dimensions of ever-increasing rates of car ownership.
In fact, when you look at certain places in New Zealand, you’d be surprised as to how polluted it is. Yes, I know. This is New Zealand, the land of wide-open vistas and Mother Nature. People have this idyllic picture in their minds of New Zealand but certain parts of New Zealand are actually very polluted because of the crazy density of cars in those places.
Well, Singapore, being masters of advanced planning, saw that coming, and they did not want that to be their future. So, there is a tremendous amount of disincentives to owning a car. You can own a car, but be prepared to pay up to $50,000 every single year just for that privilege. At some point in time, you’re going to have to weigh the convenience that you get with a car against the financial pain that you have to undertake.
This is just one part of the whole equation that Singapore really deals with, and when you see this first hand when you visit the Twin Vew Condo complex in the middle of Singapore, they have automotive parking available, but you have to be pay an arm and a leg for them. You’re like buying a house actually. That’s how expensive these parking spots are.
The good news is if you buy them, they can be self-liquidating. You can rent it out and even sell it. so, do yourself a big favor. If you are thinking of investing in this part of Southeast Asia, you need to consider parking units because not all condominium complexes in this city state have adequate parking.
In fact, a lot of them simply rent out parking located at the other end of the city. I know that sounds crazy. It definitely doesn’t all that intuitive, but that’s the reality of the market.
The good news is you can make this all work for you instead of against you. When you invest in parking spots, you stand to make quite a bit of money if you know where to buy. It really all boils down to the number one rule in real estate which, of course, is location, location, location.
The good news here is that when you buy a spot at the Twin Vew Condo complex, you don’t have to worry about doing your homework because it did your homework for you. It’s located at the right place, it appreciates at the right rate and it’s desired by the right people.
Put all these factors together, and there’s a high likelihood that to your money will come back sooner rather than later, and every single dollar it comes in from that point on is straight, pure uncut profit. What’s not to love?
Do yourself a big favor, take a look at the Twin Vew Condo complex. Sure, it may seem a bit expensive now but it can definitely pay its way into the future. In fact, it would probably pay for itself sooner than you expected.