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Affordable Homes for
Clementi Park Condo Near to most International Schools
Rent: 3+1, 1,722 sq. ft, $2,500 - $3,000 fully furnished.
Ridgewood & Pandan Valley Condo units available.
Ref: 803061. Above Clementi Park Condo, Sunset Way.
Near most International
Schools including the new Australian School in Mount Sinai. Call Asia USA 9668 6468 or 254
2728, 254 7944. Suits expats with children
studying in International Schools
Clementi Park Condo
Mar 7, 98. Ref: 803061. 3+1 1,722 sq. ft $2,500 unrenovated 3,000 renovated.
Other units furnished and unfurnished units available.
>5 year old development, popular with expats few years ago
Has shuttle bus to Clementi subway
Facilities: full condo facilities.
Ridgewood and Pandan Valley Condo
Date: Fri, 06 Mar 1998 17:50:47 +0800
1. Many Owners are still reminiscing the older days and asking almost the same amount of rental as 2 years ago, without realising that their units have shown wear and tear esp. bathrooms and kitchen cabinets and the "hungry" owners of new condos in the neighbourhood.
2. When prospects see newer condos such as Southaven, Hume Park or Maplewoods, they feel good because the interiors are so clean and new. Expatriate wives love new bathrooms and kitchens - no doubt about that.
3. To be competitive, you will need to renovate the whole apartment, otherwise expect a long vacancy period. It is NOT a matter of how much more you can charge after renovation but how attractive is your apartment compared to the brand new ones!
4. By doing a complete renovation, you stand a better chance of getting early occupancy, not necessarily a better rental to recover your cost of renovation. Being an established condo, most expatriates will have friends staying around and will take an older apartment provided it is "decent" i.e. no leaking roofs, fungus and scratches in walls, sinks and bathrooms.
5. Older unrenovated condos will have no tenants because expatriates prefer living in newer but smaller ones if they have limited budget rather than put up with spacious old bombs.
6. Asia USA Realty and many agents have stopped viewing of older unrenovated condos because there are so many new ones and our success rates with new ones are definitely 10 times higher. Therefore, it may be best for you to keep up with the Jones' new condo, do a complete renovation and get the vacancy rate down in years to come. This is provided your Management Corporation also upgrade the swimming pool and other facilities, otherwise you are a lone ranger.
Hope advices are useful. Best wishes.
Hi Dr Sing,
1) If I can rent out the apartment at a low rental at present condition (at most a re-painting), says at $2500 for a short term lease of 9 months to 1 year, then I am willing to do so. Rental reasonable if apartment is in clean and liveable condition.
March 6, 1998.
2) I am also thinking of a more extensive renovation,
re-painting, parquet sanding all the bedrooms, change the wall tiles, floor tiles and
kitchen cabinet in the kitchen, replace the sink area in the master bedroom attached
toilet. If I spend > 15k on the renovation, in your opinion, how much can I ask for
such a newly renovated unit?
I understand that there are some foreigners who really like Clementi Park and is looking around for units in Clementi Park vicinity. Expatriate wives love to stay near fellow country folks and older condos usually have such folks.
On the other hand, they are also thinking that our rental is at the higher end. Not sure if I am right ? How does Clementi Park position itself in the present rental market? Clementi Park Condo owners (not fewer of them) still think of the good old days when their units are in great demand and command high rentals without the need to renovate.
It is considered "aged" and not in great demand nowadays. If the units have been renovated and the rentals lower than brand new condos, there is interest.
If expatriates have a better rental budget such as >$3,000, the wives will prefer the brand new condos nearby, anytime.
The solution is to renovate your apartment to the highest standard, probably providing a bigger living/dining area and new WHITE baths and LIGHT-COLOURED kitchen cabinets .
Once again, thank you.
firstname.lastname@example.org on 03/06/98 01:52:05 PM
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