Thanks Ben and Mark for your great responses!

I’ve decided to do some in depth research on the area before making the final decision. I still plan to sell it but I will also go get expert (non bias) opinions to help me understand when will be the right time to sell.

Ben, I have decided for my investment strategy to purchase properties where I can add value right from the start (renovations, subdivisions, etc.). Obviously a brand new apartment doesn’t really fit into this category. I guess I’m lucky that I only purchased one property before discovering the approach I wanted to take.

Mark, after looking into the market cycle I have to agree. It is more than likely a better strategy to hold this property long term. I look forward to doing my own research to see how long it may take to reach a profitable value. As above however, the strategy I wish to follow doesn’t align with the property. Being in my early 20’s, I don’t have much capital to work with and don’t want to have a majority of my capital tied up in an asset that is going to take several years to perform.

Again, thank you both for your insights :)