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Friday, 8 October 2010

Diary of A Singaporean Mind: Different countries same mistake....

Read what Blogger Lucky Tan said about "affordability". The other day, I was watching the news on TV about the EC launch at Esparina Residences ...... and it was exactly the same in meaning, what a lady interviewed said - she "worked out" the sums and thought it was "affordable" and booked a unit. I was wondering if she was genuinely picked to be interviewed or was staged by the Developer or Property Marketing Agent.

"A few days ago, it was reported that a HUDC flat in Bishan was sold for $1.1M. I think Singaporeans who are so used to high property prices are only mildly alarmed by this transaction but this perhaps one of the most expensive, if not the most expensive, public housing transaction in the world. People often argue that these prices are okay because Singaporeans can afford it and are used to it. I'm sure that in Ireland, Dubai or US, when someone bought a property during the property bubble, that person can also "afford it" at that point in time. If the banks are willing to lend and you can service the loan, you can afford it."

Link :-

I will make my comments about this EC launch in the next posting soon.

Read Also :- To cool property deals, Shanghai sets 1 home limit

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