5 Tips for a Profitable Apartment Investment - Sustaining Long-Term Visions

Stepping into tenants' shoes is essential before gauging the investment worthiness of potential apartments. For instance, informed buyers such as expats or millennials will be on the lookout for sophisticated simplicity, involving an open layout and clean lines, as well as excellent digital connectivity and updated devices. Whether it's an in-built washer and dryer unit, a smart security system, or ample kitchen cabinets, it's crucial to subscribe to the vision your target customer is likely to hold to optimise their convenience, wellbeing, and indulgent productivity.

While it's exciting to ensure that your future tenants will enjoy a plethora of top-notch amenities, from a fully-equipped gym and heated pool to an open floor plan and scenic balcony views, you must also consider the nature of the lease agreement and whether it will enable you to guarantee the necessary flexibility, security, and transparency for your would-be clients. For instance, if you're part of a reputed owner's corporation, you are likely to be reassured of straightforward and efficient dealings. However, this also means that you need to look out for rules that tenants are expected to follow, such as a no-pet policy or the sharing of common facilities, and whether or not they tally with the lifestyle of your target demographic. Hidden expenses such as 'levies' are also worth enquiring after, as they involve paying an additional fee for maintenance and upgrades of shared amenities in addition to the usual expenditure of rent, utilities, storage, and parking.

The market value of the neighbourhood should also be a key consideration; for instance, emerging neighbourhoods have the advantage of high growth potential and tax incentives for property buyers. The best apartments proffer a win-win scenario of an attractive and respectable neighbourhood with nature-kissed attributes that are still located in convenient proximity to thriving city hubs for business and recreation. If you're seeking out classy and contemporary new apartments in Sri Lanka affording excellent connectivity to vibrant urban hotspots, venture no further than Prime Residencies.

To be able to boost your property value with certain tweaks and additions is a must, and it's important to have long-term goals and growth in mind during the selection process. For example, to facilitate the selling point of a holistic lifestyle for your clients, your chosen apartment must possess a customisable layout that enables you to add value over time and sell it for more than what you paid for it.

Apartment rentals are fast becoming the most preferred multi-faceted income source, promising up to 15% annual capital gains and a stable ROI growth trajectory, especially those with avant-garde fittings in commercial hubs catering to a growing population of expats. However, before committing, it's vital to check in with a real estate expert who can accurately gauge whether a property hits the mark of 'prime real estate'.