A considerable number of new condominiums and HDB flats are coming up in the next few years as widely reported in the newspapers and news channels. This inevitably means that even now when we see condominium showrooms on every corner that we turn, showrooms for showcasing and new launches will become an even more common sight.
And with mass media broadcasting the possibility of a property supply overflow, you can bet that developers will be pulling out all stops to make sure that their properties are not one of those that are left out from prospective buyers. Developers after all spend hundreds of millions of dollars to buy land and build their luxury condominiums on. Failure to sell enough units at good prices can mean loss of sales, resulting to cash flow crunch, even worse if the property values depreciate.
With the property rush, it present banks huge opportunities to make a lot of mortgage loan transactions. Developers require banks’ financial support to build up the properties. On the other hand, banks also want the support of the developers for their mortgage loans. Together with the forecasted slowdown, this is a combination that can benefit the property buyer.
Mortgage loans for Skyline residences starting at SIBOR rate + 0%.
For most new condominium developments, there will be a particular bank that offers a special promotion. This is partly due to the strong relationship between the developer and that particular bank. Both parties help each other out to create a win-win-win situation. The developer get to generate sales, the bank gets to sell their mortgage loans, and the individual property buyer get a great deal.
Properties are one of the more significant assets in the Singapore dream. New buyers are going straight into condominiums, condominiums are upgrading to landed properties, and property owners are trying their hand on buying a second property for investment.
In the event that you are buying a new launch condominium, before you commit yourself to a Singapore mortgage loan, it can pay off big time if you actually do some groundwork and find out whether there are any special promotional mortgage loan deals available conceptualized specially for that particular development. Alternatively, you can contact us at mortgage loan Singapore from the home page.
You don’t want to end up with an over-priced mortgage loan when a much better deal has always been available.