Will you buy a 50 sq m apartment?
- Thread starter ninelives
- Start date
Sion
Senior Member
if cheap, fine. but it's not. let say for 277k , you can choose 71 sqm and 50 sqm. which one do u prefer? but 71 sqm is old flat lar, some people dont like old, they prefer new. for me, i prefer big.
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There is an insidious angle to this. Developers want to instill gradual acceptance by the public to ridiculously small properties that they can sell to you.
Selling you ever decreasing sizes of mickey mouse apartments at inflated prices means mentally the public has accepted this.
It means that they can sell the normal sized units at crazy-high prices.
The developers learned this from Hong Kong. However in Hong Kong, the situation is slightly different from here.
Hong Kong is basically ruled by the Chairman of the Hong Kong Jockey Club and a few extremely powerful, rich and well connected developers.
They are so powerful that the Hong Kong Chief Executive cannot control them. Unfortunately they have been allowed to become too powerful over the years before and after 1997.
Hopefully the new CE, Leung C Y with the backing of the PRC Govt will start to slowly dismantle the power and influence of this group.
He must rein them in or else the whole HK will be under their thumbs for the next half century.
In Singapore, we don't have a situation as bad as HK. The developers are not out of control. Not yet.
So we should stamp out the proliferation of mickey mouse units.
In the first place don't allow the Planning Approval.
Selling you ever decreasing sizes of mickey mouse apartments at inflated prices means mentally the public has accepted this.
It means that they can sell the normal sized units at crazy-high prices.
The developers learned this from Hong Kong. However in Hong Kong, the situation is slightly different from here.
Hong Kong is basically ruled by the Chairman of the Hong Kong Jockey Club and a few extremely powerful, rich and well connected developers.
They are so powerful that the Hong Kong Chief Executive cannot control them. Unfortunately they have been allowed to become too powerful over the years before and after 1997.
Hopefully the new CE, Leung C Y with the backing of the PRC Govt will start to slowly dismantle the power and influence of this group.
He must rein them in or else the whole HK will be under their thumbs for the next half century.
In Singapore, we don't have a situation as bad as HK. The developers are not out of control. Not yet.
So we should stamp out the proliferation of mickey mouse units.
In the first place don't allow the Planning Approval.
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If the location is good and near all amenities and transport, I wouldn't mind buying it as my "Cave" for me to be alone... doing my own reflection and reading there...
its less than 50sq m really... But good enough for people who just want their own space.
Regards,
Hart
its less than 50sq m really... But good enough for people who just want their own space.
Regards,
Hart
I've owned a 67sqm studio including aircon ledge. It was quite decent actually for a couple & maybe one child but not for a family in modern times. These days, they have 60sqm? & managed to make it 3 bedrooms! Cannot imagine how tiny they are.
The developers are very smart, if you were to use $/psf nobody would buy but because of the small size, the quantum figure is affordable & $/psf becomes 50-100% higher than usual for surrounding old properties. Eg. S$600K+/- private & some with swimming pools, coupled with low interest & 80% loan, they are very attractive. Even I was tempted to buy a 300+sqft for investment last year in Geylang as that was under S$400K & F/hold with one parking lot & pool.
That minister is making noise but why did URA/BCA approved the plans in the 1st place? :dunno:
So back to the subject, 50sqm is liveable for single or couple but remember that air-con ledge + sometimes balcony are within so actual living space is much reduced & worse if there's a bomb shelter!
The developers are very smart, if you were to use $/psf nobody would buy but because of the small size, the quantum figure is affordable & $/psf becomes 50-100% higher than usual for surrounding old properties. Eg. S$600K+/- private & some with swimming pools, coupled with low interest & 80% loan, they are very attractive. Even I was tempted to buy a 300+sqft for investment last year in Geylang as that was under S$400K & F/hold with one parking lot & pool.
That minister is making noise but why did URA/BCA approved the plans in the 1st place? :dunno:
So back to the subject, 50sqm is liveable for single or couple but remember that air-con ledge + sometimes balcony are within so actual living space is much reduced & worse if there's a bomb shelter!
My apartment is only slightly larger than these 50 square metre apartments... 57 square metres (excluding balcony, carpark, storeroom), for me, it was just right!
that's the problem man, and quite a serious one...the developer was testing water.
when they reduce the size from 71sqm to 65 sqm, people buy them.
so they reduce the size from 65 sqm to 60 sqm.. people buy them.
now the evil developer laugh "haha, these people are stupid, lets; reduce them to 55sqm" and yes people buy them.
so they further reduce it to 50 sqm coz they know people will buy them.
soon or later, you will be paying 250k for a 40 sqm......but i 100% believe people will buy them.. coz people dont mind letting the developer squeezing them....
This is bad, very bad..i am very sad..
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