The fact that there are many people who are looking to buy a condo, especially in Singapore, has made a lot of people to be interested in the real estate business. It’s because of the high demand of the condominium, there are a lot of developers who are competing against each other, in order to provide the customers with the best condominium that they can build. Unfortunately, due to the sheer number of the people who are searching for the good condo, there are many irresponsible developers, or we can say the fraud developers who are gaining the advantage from the people who are inexperienced in buying a condominium. Although there are many qualified condos just like the iNz Residences EC, there are still some people who’ve been tricked by the fraud developers.
Some of those developers are inflicting the financial losses to the customers unintentionally, due to the investment and the capital for the condo construction process might be hampered, and they’ve been trapped within the situation where they can’t give any compensation to the customers, while the condo hasn’t been finished as well. That’s why some of them are running away from the customers. Although the worst type of developers are the ones who are tricking many people intentionally. They’re advertising false ads, and those advertisements are informing the people about the cheap condominiums that might not even exist from the beginning. They will likely to charge the booking fee, or other fees that they can make up, and once the customers have paid, they will run away with all of that money. They won’t even think to give the customers anything for the money.
That’s why it’s important for you to never buy a condo hastily, due to the profit in this business is so enormous and there are a lot of people in the condominium business. Therefore the condo business has been exploited by many irresponsible people who are just targeting your money. It’s better to choose a slightly more expensive condo, but the developer is reputable. It’s a safer bet for you to buy a condominium, especially if you’re planning to use it as your own personal residence.