Does this make sense?


ricohflex

Senior Member
Feb 24, 2005
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#1
At an average price of $1747 per square foot for a 99 year leasehold condo in Bishan area. Are Singaporeans stupid?
 

Sep 17, 2008
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#2
At an average price of $1747 per square foot for a 99 year leasehold condo in Bishan area. Are Singaporeans stupid?
no. just rich. most of the time they will sell before time is up la...

bishan also accessible what. u haven't seen those studio apartments at city area the price :)
 

fotoudavid

Senior Member
Mar 11, 2005
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#3
make sense........ but not for the faint heart.....
 

snowc

New Member
Jan 8, 2006
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#4
Don't forget the 900k Bishan resale HDB flat.....
 

edutilos-

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Dec 28, 2010
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#5
At an average price of $1747 per square foot for a 99 year leasehold condo in Bishan area. Are Singaporeans stupid?
I think it's up to them.

You think they're silly, they think they're not. You think people in the Hello Kitty queue are silly, they think they're not. And the list goes on.
 

ed9119

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Mar 11, 2002
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#6
I'm sure both buyer and seller thought they were very smart and that the other party was stupid
 

kei1309

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Apr 12, 2010
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#8
you're always smarter than the other person :bsmilie:

btw, the mock-up of the buildings.... reminds me of a slum where everyone's packed together. perhaps that's the architect's idea :bsmilie:
 

melvin

Senior Member
Jun 4, 2005
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#10
At an average price of $1747 per square foot for a 99 year leasehold condo in Bishan area. Are Singaporeans stupid?
Haha... snice when does it ever make sense? Anyway is willing buyer willing seller lor ...
 

hanzohattori

Senior Member
Apr 16, 2010
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#11
Clearly the stupid people have more money than you are :bsmilie:
 

giantcanopy

Senior Member
Feb 11, 2007
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#15
At an average price of $1747 per square foot for a 99 year leasehold condo in Bishan area. Are Singaporeans stupid?
The way I see it, pricing can only go higher.
Limited land, ever increasing population ..
 

Yutaka Go

Senior Member
May 22, 2010
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#16
The way I see it, pricing can only go higher.
Limited land, ever increasing population ..
Developers still selling unsold units from older launches - Property Auctions News, Property Investment | PropertyGuru

There are actually many unsold units in Singapore

The developers are releasing the units by small batches so that the price will not come down.

This is price manipulation by the developers to increase their own profit. Nothing to do with limited lands and increasing population since most people cannot afford these units.

As long as the price only goes up and never come down, it make sense to buy the unit and sell at higher price a few years later.
 

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Aug 1, 2011
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#17
Actually Singaporeans are very smart. Price will go up in the long run...
 

Oct 28, 2006
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#18
At an average price of $1747 per square foot for a 99 year leasehold condo in Bishan area. Are Singaporeans stupid?
Crazy, over S$2million for a 1200sqft 99yr old apartment? Are those shoebox units again?

For the S$2M, I can buy a 7K sqft bungalow in KL by Sime Darby, brand new, FH, gated & guarded with swimming pool & 4-6carpark lots. This is considered high-end here! Or a beautiful sea-front FH apartment with 1800sqft+/- in the French Riviera.

Back to Singapore, we'll leave the hi-end aside as those are for foreigners to speculate & invest but heartland HDBs over 10yrs old @ $900K?! I wonder how much can they rent it out for? Not a wise investment IMHO.

I bought a 13yr old 99yr condo in the east last Dec, it has a hawker centre opp, cold storage & variety of shops while East Coast is less than 10mins away by car. 1604sqf for S$1million, comes with security & 2 carpark lots but no swimming pool etc which I don't need. MRT is less than 3km away & monthly maintenance of less than S$200 a month while rental is probably $4-5K. There are good buys out there, if you don't mind older units, non MRT & some are freehold, they can be found but wait for the opportunity.
 

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giantcanopy

Senior Member
Feb 11, 2007
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#19
Crazy, over S$2million for a 1200sqft 99yr old apartment? Are those shoebox units again?

For the S$2M, I can buy a 7K sqft bungalow in KL by Sime Darby, brand new, FH, gated & guarded with swimming pool & 4-6carpark lots. This is considered high-end here! Or a beautiful sea-front FH apartment with 1800sqft+/- in the French Riviera.

Back to Singapore, we'll leave the hi-end aside as those are for foreigners to speculate & invest but heartland HDBs over 10yrs old @ $900K?! I wonder how much can they rent it out for? Not a wise investment IMHO.

I bought a 13yr old 99yr condo in the east last Dec, it has a hawker centre opp, cold storage & variety of shops while East Coast is less than 10mins away by car. 1604sqf for S$1million, comes with security & 2 carpark lots but no swimming pool etc which I don't need. MRT is less than 3km away & monthly maintenance of less than S$200 a month while rental is probably $4-5K. There are good buys out there, if you don't mind older units, non MRT & some are freehold, they can be found but wait for the opportunity.
As explained recently : MOS Tan Chuan Jin responds to blogger’s post gone viral - Yahoo! News Singapore

" .. for first time buyers, you will find a range of different sized flats in non-matured estates available, with subsidies, priced affordably for your respective income levels. "

Just have to have to set the right expectations I guess

I agree with you that some of the older condos even FH can be better value than some of the recent offerings.
 

Oct 28, 2006
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#20
As explained recently : MOS Tan Chuan Jin responds to blogger’s post gone viral - Yahoo! News Singapore

" .. for first time buyers, you will find a range of different sized flats in non-matured estates available, with subsidies, priced affordably for your respective income levels. "

Just have to have to set the right expectations I guess

I agree with you that some of the older condos even FH can be better value than some of the recent offerings.
One lesson that we learnt over the last generation was to flip our flats for a profit, I didn't get the opportunity to do that :( but it created a bigger problem now with 5 figures COV. I sympathise with the newly weds or those who's combined household income are less than S$5000 before Cpf. To buy a flat now, it'll empty their CPF, 30yrs loan, uninspiring lifestyle, expensive medical, $90K COE so how to have kids?

It is a privilege to own a HDB flat now.

But I have to agree that we should be realistic about wants & needs. I grew up in a govt rented 3 roomer flat while some of my classmates squeezed 5-6 pax into a 1 room @ Macpherson. Views & amenities are the last things in our mind back then.
 

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