We have a happy problem. We were able to attend a property seminar at a hotel in Orchard Road. We felt very blessed that we were in a good position to look into foreign properties. We wanted to understand the Total Debt Serving Ratio and the loan eligibility that we can borrow. It does not mean we need to buy anything at the seminar but to educate ourselves.
The developer is not your typical well-known one, it is a boutique developer who used to develop commercial buildings and this is the first residential development that they have launched. The developer is considered generous in the facilities such as the co-working space, library, and swimming pool. The developer is been very attentive to the finer details.
We like what we see. However, we are not certain because, in the seminar room itself, there was a lot of sales talk and very pushy sales tactics. This makes it very uneasy. I will be questioning if it is good and affordable, why you need to sell it overseas. It should be easy to sell it to the local market.
I saw the founder of the developer at the event. He looks very calm and a man of few words.
From the seminar, it made us realize that we need to enter the property market for the 3rd unit. This will be a foreign property to me. This sounds like playing Monopoly but it is not. I think property is an interesting asset but needs to be bought at the right price and timing. I think this is the right time to enter this market. I will reveal once I have made the purchase.
Alternatively, I can use a REIT or a property developer stock to achieve a similar investment outcome and it is more liquid than owning a physical property.
Update on 10th August 2024
We flew to another country to take a look at 2 properties. We believe that we need to walk the ground to look at many units before we can make the right move. Due to time constraints, we only managed to view 2 units.
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