It really depends on a number of things. Of course, the location would be one factor. It will be a good investment if condo is located in a college town. You can always easily have it rented to college students. Whereas if buying a condo in a residential area, it just might not be as easy to re-sell or lease. In some residential areas, people will tend to buy a house over a condo.
This could be a double edged sword. If this is an investment property it is all about location. If this is your residential property then I say it is what ever you want. But be aware of service agreements, and maintenance contracts as these can get very expensive. Also pay very close attention to home owners associations with condo units. Many condo units have these associations. They are subject to go up at any time in price. I like to shop around and find properties without home owner associations and any kind of maintenance agreements. I would rather contract any work out my self and save $$$. Just saving my 2 cents.
Depending on what your target market is, it could be a good investment. If you take a look at the current Economic conditions....a lot of people are down sizing. So do your homework and see where these down sizers are flocking to. Then make your investment decision based on your due-dilligence. Right now, it could be a really good investment.
There's advantage and disadvantage in having an investment in condos. Like what caltex said, location is also one of the factors that you should consider if you want to venture in this kind of investment. The reputation of the condo developer and the view/image of the unit and amenities of the building should also be checked. The advantage of having a condo, you are secured because the fees that you pay goes to the security and for the house help to maintain the area. But the disadvantage, the building depreciates in time. So if you want to sell it to others, the value of the unit you bought would be lesser than the amount at the time you purchased it.
Any property is a good investment if you buy and/or sell at the right time.
Yes it is good investment. It will give you better returns in the future. And the best place to invest in condo is Singapore. Because it is the leading country in property development and are providing the best facilities for condo. I recently invested in condo with the help of New Condo company in Singapore.
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