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- Point 1: An appartment has the benefit of rentals and cash flow. however, the appreciation is slower than land. (Land appreciates, building depreciates)
Point 2: the ideal holding period for an appartment would be 5-8 yrs. after which the building would be percieved as "old" and the rates will be much lower than the newer constructions around.
Point 3: Land (if proper legal documentation/check etc is done properly) is always a better investment. Land keeps on appreciating. however, you will not get any income/cash flow till your build something or sell the land.
Point 4: Land can be converted into different usage (eg. agri - residetial.. or rediential to commercial.. etc.) thus adding value to the same piece of land.
Since your time frame is 7 yrs, I would recommend an appartment within the Ring road.. as there is no scope for new land to pop up.. away from the city, there are always new layouts coming up and newer areas getting converted and hence there is always higher supply as compared to the demand. Make it a point to stick to reputed builders or if budget permits then an independent house(ideally with smaller building and build higher floors --- construction cost is always lower than salable constructed area)
best of luck and happy investing..