How Big Businesses Earn From Executive Condos
Developing executive condos surely are profitable. It is a big business which requires a lot of funding to get started. You have to have the finances in order to start building an executive condo for sale. And when the units are ready for sale, you still need a little or maybe a long while before reaching the breakthrough.
Like any other businesses, not every investment guarantees success. You have to work hard and have creative mind on how you will present your units to potential clients. But good news to the big companies in real estate, the market is on a high demand which means the odds of failing is pretty low. It was reported that 11,000 Singaporean home buyers purchased Executive Condominiums in the last quarter of 2010 which was in the same period in 2013.
The executive Condominium Housing Scheme is an aid to the Singaporean families who can't afford new property launches in Singapore. They offer private condos which are relatively cheap compared to the market price. Most of the residents who benefited were HBD dwellers and 55 percent were second timer households. 83 percent spent less than $1 million on their purchase.
With the demand increasing and organization helping Singaporeans to be able to purchase their very own condos, it is surely profitable to be in the real estate business. If you are wondering what are the needed components to a successful company selling executive condos, I will list the three keys:
The old saying goes, “Fake it till you make it.” That might be true to some instances but it is not applicable in the property business. You have to have talent and creative mind. You should have a unique plan that the masses can appeal to. You can't focus on just one. Originality and relatability goes hand in hand. Condo buyers look for eccentric but logical design for their condo purchase. You need a strong architect team for this to happen.
Open Minded Developers
Developers are the judge of condos. They make the decision if they will approve or reject the architect's plan. But developers don't always get it right. Sometimes, what's good for them doesn't appeal to the potential buyers or vice versa. They should have an open mind and be able to see things how a buyer will see them.
When the plan for new condos in Singapore is finished, it goes down to the agents. You need positive and determined agents to help you promote your project. They need to represent your company well or else people won't buy your units.