Most of you have heard for new Piermont Grand EC, one of the best condominiums in Singapore. Here we want to discuss the main idea. Is this place the best for starting a new life or can be even better investment. Hopefully, you will get the answer you are looking for.
Rules and requirements
Before moving to the actual explanation and definition of the matter, we need to take a look at the rules and requirements. The basic rules are standard. It means that you must be a citizen of Singapore, you don’t have additional properties and you are 18 years of age as a minimum.
Piermont Grand EC does require additional requirements which refer to this particular case. In essence, if you purchase an apartment you can’t rent it for the next 5 years. After that period of time, you are free to rent it to any person. He or she must be a resident of Singapore as well.
In the second case scenario, in the one you will want to see the apartment, you need to keep it for 10 years. After that, you are allowed to sell it to any resident of Singapore or a person with a visa. This is actually more important and appealing option we will discuss right now.
The price will go up each year
So, all of this means that if you want to sell an apartment you will need to wait for 10 years. This may sound like a bad thing, but there is one major benefit. Obviously, you will have a great place for living and you will be in the center of all happenings in Singapore. Schools are nearby so your child can complete a school in this period of time. After that, you can move or enjoy the benefit of being close to the best colleges in the city as well.
But, it is expected that the price of an average condo in this condominium raises between 5% and 10% each year. In 10 years, this can be a significant investment, up to 100% of your investment. Just to keep things simple, the price will go up between 50% and 100% in 10 years. All of you will agree this is a major investment and a great advantage we all like.
Piermont Grand EC price will go up in the distant future as well. The location will become more popular, more modern and there will be all new facilities you can think of. Add the ones that are already there and you can understand the true power of this condominium.
Piermont Grand EC can be either of these things. It can be a nice place for living or a smart investment. It is up to you and only you can make the desired choice. We all like the place, the look of condominium and the overall affordability. We also like the fact some people will make a wise investment that will pay for itself in 10 or fewer years.