.
Investing in a condo comes with numerous advantages and one of them is the potential to use the property’s value to further increase your investments. Numerous investors take advantage of their condos as collateral in order to secure additional financing for new investments, hence expanding their real estate portfolio. This approach has the potential to amplify returns, however, it is important to have a solid financial plan in place and carefully consider the potential impact of market fluctuations. Singapore Projects can also provide lucrative opportunities for condo investment.
Located in Katong, the freehold mixed-use development Roxy Square will be relaunched for collective sale. Marketing agent JLL announced that the development, which comprises of 296 shops, 26 apartments, and the 576-room Grand Mercure Roxy Hotel, was initially launched for tender in July 2019 at a minimum price of $1.25 billion. The tender closed on Sept 26 last year.However, in a press release, JLL reveals that the owners of the development are now in the process of signing a supplemental agreement to lower the collective sale price by 10.8% to $1.115 billion. The new price would require at least 80% of the owners’ support to take effect. Currently, over 70% of owners are in favor of the lower price.