They seems very confident of the market. Recently got people purchased a duxton unit for 1 million. Really is never see coffin never drop tears.
ie why they voted FAP for 6.9 million.
normally, the buyers sold off their condo and in excess pay for the pigeon hole at extraordinary price.
so power? why condo downgrade to pigeon hole?
In 2006 Morgan Stanley chief Asia Economist Andy Xie,...., questioned why Singapore had been chosen to host the annual IMF and World Bank meetings.
As he put it... “.....actually,Singapore’s success came mostly from being the money laundering center for corrupt Indonesian businessmen and government officials . . . to sustain its economy, Singapore is building casinos to attract corruption money from China.”
.......... it does capture an essential truth about the Singapore financial centre: its deliberate role
as a dirty-money centre. Indonesia’s Deputy Attorney General in 2010 described Singapore as ‘the most strategic country for corruptors to
run away to. . . the policy of the Singaporean government enables corruptors to live there,” with Singapore declining to help Indonesia
extradite those it believes to have siphoned off large-scale state funds during the Asian crisis of the late 1990s. According to the Singapore
Democratic Party in 2008, corrupt Burmese ruling generals, among many others from the Asia Pacific region, were also suspected of using
Singapore as a destination for their laundered money.........................
In April 2013, ....International Consortium of Investigative Journalists (ICIJ) acquired secret records containing ....data leak ..on Singapore based Portcullis TrustNet,.......... implicated in various offshore accounts scandals of public officials and wealthy individuals and families based in Indonesia, Thailand and the Philippines.
...investigation by Global Witness into corruption in...Sarawak ...provides a rare inside view of the operation of the financial centre, with a tax lawyer noting that: “Singapore has a “Chinese wall,” that it’s impossible for the Malaysian authorities to get any information out of Singapore, and that Singapore is for “people like us.”
Singapore’s practitioners have often stressed ....that information-sharing agreements with other countries come hedged
with special Singaporean ‘safeguards,’ which are backed by a courts system favourable to the financial sector, which can make it hard for other
jurisdictions to extract necessary information............
http://www.financialsecrecyindex.com/PDF/Singapore.pdf
They seems very confident of the market. Recently got people purchased a duxton unit for 1 million. Really is never see coffin never drop tears.
Rising condo fees and deteriorating maintenance, compare 99yr lease condo vs HDB, I would take HDB anyday.
If that buyer paid so much money for a re-sale flat, he is 1000% an imported foreign SPR. An imported shit or a local can always buy new but not foreign SPR.
A lot of foreign SPR are super rich, cash rich like those tiongs from China. Money is like toilet paper, can be used endlessly. Clean money or black money, pappies don't know until tiongs get caught.
Wonder why no legal action against Andy Xie, Morgan Stanley, the publisher of the article ect2
50% drop in Singapore property prices when the bubble deflate according to Andy Xie two years ago, so far prices have dropped 7-8% and steadily falling. But Andy is incorrect about Singapore property being only about interest rates, there's also a large oversupply to pull prices down. Vacancy rates are steadily rising to a record high while rental is sinking.
They seems very confident of the market. Recently got people purchased a duxton unit for 1 million. Really is never see coffin never drop tears.
If cannot pay in the end pap will give them discounts?
They seems very confident of the market. Recently got people purchased a duxton unit for 1 million. Really is never see coffin never drop tears.
They still think there is long term value in property, no matter how expensive. Maybe they are convinced that PAP will get 6.9 million or even 10 million in and push prices up even further over next 10,20 years.
I expect Duxton apartments to be fetching $1.5M in a few years time. It's thanks to PAP that Singapore's property is worth so much. If we were ruled by the sultans or the m&ds, we would be selling land at a huge discount in order to beg for foreigners to come live and work in Johor.
you have to think of the aging population. 30 years later alot of new citizens may not even be in singapore. india, china and phino allows their ex citizens to settle back in their hometown. sinkapore alot of old people and they also cannot afford to purchase your hdb at 1 million dollars.