In thinking about the distance of residence, we will give a parable of taking an apartment in Australia. Why Australia? Because currently, Australia is a country that is diligent in offering purchases of apartments for foreigners. This country has also been known as a study destination country for Asian students. Non-resident buyers (not holders of a Permanent Residency visa or an Australian citizen) can only buy a property that is truly a brand new. In Australia, the properties offered are of type ‘off the plan’ (not yet / being built). Remember, the more OTP properties are sold, the lower the risk of this project to get financing from the bank so that the impact of the developer is getting easier to get funds from the bank. The tendency of Asian people to get used to living in a crowd and close to various facilities, while in Australia many cheap apartments are located some distance outside the center of the crowd so that the potential to make the occupants do not feel at home. Apart from that, we highly recommend you to check out the Dairy Farm Residences if you look for good apartments in Singapore.
The current economic conditions, which are uncertain, are most at risk for the Fluctuations in Currency Exchange Rates of the AUD and your country’s currency. Beware and if necessary avoid this risk by buying cash without borrowing from the bank. The condition is that you must have large amounts of cash.
Besides that, there is another marketing trick that should be well understood, namely the hidden costs behind Rental Guarantee and Cashback. Nowadays, many developers offer high rental guarantees for the first 2 years as an incentive to buy and are usually easy to attract beginner investors with this strategy. Once the apartment is ready, direct buyers can get rent, even in some cases higher than the market price. Interesting right? But remember, by providing a rental guarantee, basically, the developer subsidizes property agents who take care of rents after settlement.
The further effect is that the purchase price of a property with a rental guarantee turns out to be several tens of thousands more expensive. It’s because the developer enters the rental guarantee value into the selling price.