Stratospheric Air

A HDB apartment owner is asking for $900,000? Shocking? Well, not really. I once owned a HDB Execute Apartment (a 5-roomer). In the heady days of 1996, it was not inconceivable for me to fetch $700K on the market for it. Fast forward 15 years today. $900,000 looks right, in a red hot property market where all rationality has gone out the window. But when you consider how people have been willing to pay the high prices for DBSS apartments although they have the same restrictions as a public HDB apartment, you know the time is now to make a killing on your humble public housing apartment.

Why should anyone begrudge another about making good money on their properties? If I had the same opportunity, I'll put out my apartment too on the market at stratospheric prices, so long as people are willing to pay the asking price. And you say it's crazy? Honestly, who do you think is crazy? The one who can make half a million on a single property sale, tax free mind you, or the one standing red-eyed thinking about it? Come on, don't be hypocrites! Say you love the capital gains. It'll certainly come in useful, if not for yourself, at least for your children?

How I love the Singapore property market. The only thing left to do is to cash out of the country and go find a more down to earth place to live.

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