would you live in an appartment that is 28 years old and pay this price?[/color]
Beware Landlord trying to rent out his Condo or an Agent
loads of people choose to do so - here in Singapore, and elsewhere in the world.
WHY? simple.
locality, locality, locality. you will see and note the difference(s) if you've bought and sold a few times before, or bothered to observe real estate trends and preferences locally, or anywhere in the world.
a compact, updated shoebox or small character fixer-upper in the right prestigious addresses can easily generate the same selling and rental price, (if not way more) - than a spanking new cookie-cutter acreage monstrosity located in the suburbia boondocks.
it's not equal. certain boundaries come with certain upscale crowds, certain perks, certain schools, a definite level of safety and caliber of playdates ... certain elitist amenities.
NOT saying i endorse or enjoy it; after having been there and done that in those places all my life, and seen through the whole farce and masks. but just saying at the end of the day, how
such is life, despite how PC life is, or how we would want to pretend it to be.
new or old does not always matter. it's not straight apples and oranges.
the right elite districts are a definite must-have plus factor for many markets of some buyers/renters/parents (where choice of schools matter).
- you will have the precious who cannot live/shop anywhere else outside of their elitist communities or they "will just die, dahlin" ... and
- you also have the wannabes, poseurs + newly minted nouveau-riche (paying top dollar and willing to overpay) trying their darnest to get in, regardless.
both ways = win win situation for sellers/landlords. locality definitely talks, regardless of where in the world that piece of real estate is located.
a 30 yr old 2-bedder Orchard Road walk up with few updates and no amenities (pool etc) can cost as much as a Marine Parade/Punggol new condo, in rental and perhaps selling.
(and even between Siglap, Mountbatten and Marine Parade - there is another very subtle locality/class distinction too, unfortunately. ask the Katong old-rich, they will tell you. Joo Chiat fares the worst in the East, with its close proximity to Geylang.
amusing to observe Bukit Batok and Jurong residents packaging their areas vaguely as "Bukit Timah" = "all generally in the same direction lah".