Hi Mr Goh,
The important point that most have missed is that you mentioned your property is 99 year leasehold.
You didn't mention if you bought directly from developer 3 years ago, or if you bought resale back then.
That means as of now, the property is 3 years or older. In 10 years time, it is be 13 years old up.
Depending on your management's dedication to maintaining the condo, a 13 year condo can look like 4 years old or 40 years old.
A MRT station will definitely boost up the price. But considering a time frame of 10 years, if you buy anywhere in Singapore right now, you will also experience capital gain.
In 10 years, most of Singapore is accessible by MRT, and so many existing condos, and new condos, can boast to be next to a MRT station. So, it is not only your condo that is near a MRT station.
If you find somewhere right now where you like, with a freehold tenure or a fresh 99 tenure, you can consider either selling your present condo or take a equity loan to purchase the new condo.
If you worry about losing the 3k rental income, it is not even a concern. You are making 3k a month based on your 600k investment. Now your 600k has grown to $1mil. If you buy a 1mil property, i can safely put my word that your monthly income will match or exceed $3k per month.
You will not only match or exceed your current rental income, and can also experience similar capital appreciation for the next 10 years.
Thanks!
Richard Wan
Propnex Realty
R002212A
92229344
richardwan@live.com
My Websites
www.wanrichard.com
www.hillviewpeak.com (New Condo near Hillview MRT)
www.forestville-EC.com.sg (New EC in Woodlands)
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