My First Investment Property (Part 1)

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I bought my first property in 2011 – a 1-bedroom 657 sq ft apartment at Bedok Residences.

Bedok Residences was launched in November 2011. Kakis who followed the Singapore property scene closely will definitely have some impression about this project, which created some hoo-ha when some 500 people started queuing at the showflat, days before the launch. Over 350 units out of the total 583 units were sold on the first day of the launch.

With the help of my trusted agent friend KY, I was one of the ‘lucky’ ones who managed to snatch one of the last few remaining one bedroom units.

Why Bedok Residences? From an investment and rental point of view, It was a pretty straightforward decision for me at the point in time:

  1. Convenience – Bedok Mall is integrated and located just below the condo
  2. Connectivity – Direct connectivity to Bedok MRT and bus interchange
  3. Rejuvenation of Bedok – redevelopment of Bedok town centre and amenities (hawker centre, sports complex, community space)
  4. Proximity to sub-business hub at Changi Business Park (ease of getting tenants)
  5. Mature estate – Lack of opportunities for new condo/competition in the area
  6. Reputable Developer – Capitaland

Having convinced myself with the above reasons, and with some savings/CPF monies to spare, I decided that I should not miss this opportunity. Just try my luck and see if I can get a unit!

Demand was so strong that I remembered that I received a few calls from KY in the afternoon of the launch day to inform me that my choice unit was sold and asked me to make a quick decision on the remaining available units before they are gone! So it ended up that the unit I chose was a West facing patio unit. West facing? Am I crazy? LOL…I thought I was. But it was a calculated risk at that point in time.

In my following posts, I will share more about why this was a calculated risk and how I planned my finances. Stay tuned!

This article first featured on Singapore Property Kaki blog.

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