New Property Launches With Affordable Quantum
With Total Debt Servicing Ratio (TDSR) that limits the loan amount buyers could borrow base on income versus age (loan tenure), overall price affordability becomes essential deciding factor when making a property purchase. We are now seeing the trend of smaller unit sizes for more upcoming new condo launches. Home buyers these days are looking at affordable quantum (in dollar sense) of new condos than focusing on sizes of the units.
The overall Median PSF pricing has been on a rise in recent years and even for Outside Central Region (OCR) mass condos are going for at least more than $1000 PSF for new launches. We are presently seeing the effect of TDSR and Additional Buyer’s Stamp Duty (ABSD) taking place where more potential buyers become more cautious when making their property purchase, mainly because of loan quantum or down payment because of ABSD.
The question would be how much impact these measures would have on the Property Prices or Price Per Square Foot?
Property Buyers would be delighted that some developers are being more realistic when pricing the new launches and some have already made new adjustment on the prices. However, we also need to note that construction cost is still on the rise and so are raw materials cost. Coupled with higher bidded land sale prices compared to several years ago, there would be very narrow rooms for developers to maneuver on new launch prices. This explains the trend that more upcoming developments will be more efficient in the layout to make the overall quantum price affordable else most home buyers will be left out. Dual Keys units would appeal to many who could use the Suite to get additional income and offset the mortgage, if necessary in time to come.
Trilive, Efficient Layout with Dual Keys Concept
Trilive is a rare freehold new launch with 80 percent of the development that comes with Dual Keys Units, appealing to audiences looking at 3-G (three generations) living and yet having own’s privacy at very efficient layout and design. Alternatively, home-owners could rent out the Suite for additional income. Trilive is awarded with the UD (Universal Design) Mark that pays meticulous attention to every design aspect, the efficient layout and compact in design with Dual Keys Suites included. Each unit has a bigger bathroom built with slanted tiles without curbs with elderly or wheelchair friendliness in mind and with an opt-in option to install Safety Alarm Call Bell or Grab Bar in one of the bathrooms.