My friends and I are sitting in Poho eating a green tea cheesecake and discussing how the property prices have doubled in the recent past. "If only we had----" but then we stop, it's too painful. Yes, we all want to get in early and buy low, but how? By the time the 'hood is hotted up, we're priced out.
Test your property investment knowledge & predictions of the following. Which items indicate a) a neighbourhood that’s “Already hot” or b) a “Future Hot ‘Hood”? Check answers below.
1. The coffee looks like a science project.
a. Already hot.
b. Future hot ‘hood!
2. The buildings are mostly low rise and the streets are short, out of the way, but low end retail.
a. Already hot.
b. Future hot ‘hood!
3. There is a bridge, escalator or MTR routes being planned.
a. Already hot.
b. Future hot ‘hood!
4. The MTR has been there for five years or more.
a. Already hot.
b. Future hot ‘hood!
5. There are a few old buildings, but not too many, with flats decorated to an excellent, modern spec.
a. Already hot.
b. Future hot ‘hood!
6.
You see some suited professionals living and dining in the area but not many.
a. Already hot.
b. Future hot ‘hood!
7. At least half or more of the residents are wearing suits.
a. Already hot.
b. Future hot ‘hood!
8. There is a park or waterfront with mostly older buildings and almost no renovated units.
a. Already hot.
b. Future hot ‘hood!
9.
The neighborhood is well hidden, protected from the bustle and madness of the city, and low end retail.
a. Already hot.
b. Future hot ‘hood!
10. Most of the restaurants have one-word names or names using European language words.
a. Already hot.
b. Future hot ‘hood!
1. Already hot.
2. Future hot ‘hood! Great “out of the way” factor- makes it fun, and also a bit elite feeling! The key is if you see only low end retail shops: indicator of not having caught on yet.
3. Future hot ‘hood! Infrastructure always brings money.
4. Already hot.
5. Future hot ‘hood! If there are flats with tasteful, high quality décor, there is likely a savvy investor behind it, one who has done his/her homework and has good instincts.
6. Future hot ‘hood! These are the tenants of the flats in #5.
7. Already hot.
8. Future hot ‘hood! “When land and water meet, wonderful things always happen.” (Elliot Willensky) Same goes for parks. People always pay more to live near nature or water and they bring investors making property WORTH more.
9. Future hot ‘hood! People pay more to live in a quiet area within an urban environment- they want their “cake and eat it too” factor. Again, if low end retail, it’s still not discovered.
10. Already hot.
Scores:
1-3 correct answers: Intrepid investor!
4-7 correct answers: Teetering on tycoonhood!
8-10 correct answers: Property guru!
Share your hot ‘hood: If you know of a future hot ‘hood and would like to share, please email us! Or if you want to keep an undiscovered neighborhood all to yourself, on your conscience be it…
Image source: Flickr Creative Commons
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