Scuba & Father... For Life
This is not something perculiar to property agents, same goes for Insurance agents, etc.
Some of my school mates who are in the early 30s are already joining the million dollars club - Insurance, I mean. During good times, they made a lot which someone mentioned that it can last them for quite a while.
You will make hell of $ if you were good. If not, do you think why so many people wanted to jump into the bandwagon. They are hoping to be one of the elites.
Because we do not rip them off in their private property buys. "Singapore" in property buys usually mean "honourable".
Though there are some exceptions like gold taps, race horse pets, $10,000 watch using other people's money, BMWs/penthouses, generally....as a country and a people, we have a good brand name.
Something for Sion to read......
Last edited by ricohflex; 15th September 2009 at 04:33 AM.
Ah Mah said: "We are currently seeing signs of heightened speculative activity, although the level of speculation is not yet extreme.
how about HDB units? brought by PR? can openingly rent out the room to their compatriot or not
this one, must cut and paste here. 200 over thousand, nearly 300K for a 3room in mature estate, and is called affordable.
HDB caters to 8 out of 10 S'poreans to suit different budgets & needs
By S.Ramesh, Channel NewsAsia | Posted: 14 September 2009 1806 hrs
SINGAPORE: The topic of the affordability of HDB flats was raised in Parliament on Monday during question time. In his reply, National Development Minister Mah Bow Tan has again emphasised that they remained affordable.
He explained the public housing body caters to eight out of ten Singaporeans earning from S$1,500 a month to S$8,000 a month with different types of flats, needs and tastes.
And the HDB is putting up Executive Condominium sites for sale in the confirmed list next year to offer more housing choices for the higher income group.
However, Members of Parliament said the affordability of HDB flats is an issue of concern among their residents.
Jessica Tan, GPC Chair, Finance and Trade and Industry and MP for East Coast GRC, said: "We know resale flats are rising in prices. How can HDB help to ensure that it stays affordable especially for the young couples who are looking to own their first flats."
Mr Mah explained that affordability is about the price of the flat and the income levels of the families concerned. Also the type of flat they can buy would depend on ability to service the loan.
Mr Mah said: "HDB has a flat for every budget. At every income level, there are flats available, there is a choice whether it is new or resale, whether it is in the mature estate or non-mature estate.
"But there must be trade offs. The trade off is if you want to be in a mature estate, you have to look for a smaller flat. Therefore, when we say that HDB flats are affordable, we are not talking in abstract, we are talking in real terms."
MPs added that another area of concern is the cash over valuation for flats.
Dr Lim Wee Kiak, GPC Chair, Transport and MP for Sembawang GRC, said: "The question is that 'is the cash over valuation system still the best system that we have or can we think of alternative to this cash over valuation system?' Many people are CPF rich but cash poor when they want to buy a flat."
Mr Mah explained that cash over valuation was not unique to HDB flats, but part and parcel of today's property transactions - whether private or public.
He said: "Buyers can choose not to pay a cash over valuation. And in fact, the latest data shows that almost one third of transactions today are transacted at or below the valuation. So cash over valuation is not a forgone conclusion. It's not evident for all transactions."
Mr Mah's advice to flat buyers is not to simply cough up the Cash Over Valuation when asked for by sellers or agents, but shop around and get the best deal for their preferred flat. - CNA/vm
Today the news announced measures to curb speculation. However, one wonders whether those with vested interests have already creamed off the huge profits BEFORE these were implemented
IMO, those with real vested interest do not need such schemes to make $. They already have the capital cum the profit(s+s+s) from previous transactions to play this game. These schemes are a bonus and with or without bonus, they already have their gameplan.