Lights off on Singapore's billionaire row as luxury house prices plunge

[bigboss]

That means the number of distressed investors is expected to rise. "Some of the earlier buyers are likely to have bought at prices 20 to 30 per cent above current prices," said Christine Li, head of research at property consultancy OrangeTee. "The rental can't even cover the mortgage for these high-end investments - they want to offload but there are no takers."

Chew said in court testimony that the CHC KH told him he preached like "siao" (mad) to get donation as he (KH) could not meet the mortgage payment for his Sentosa Cove property.

This article indeed explains the reason why KH was so desperate for the cash and he could only preach to his members for more money. Did he preach for money for his own salvation or for the salvation of the church members?

 

[KongHee]

As i said...the more herd mentality I create using more deceptive followers mix with blur fuck followers...everyone will praise me and start donating their money to me.. this is the power of herding...i learn from PAP anyway.. : D

 

[shctaw]

Sam is right.

Strategy should be simple. Buy when no one dare to buy. Sell when everyone want to buy.

Personally I have bought in 2004 (SARS); 2008 (Lehman Crisis).

I sold in 2012 when everyone think the sky is the limit. And even Jurong is consider "central" of Singapore and a lot of buyers fall into the trap. Enter at a price of $1450 psf on average.

I am not buying now; but sure will pick up a few in time to come. And surely I am not looking to buy Jurong.


http://business.asiaone.com/news/property/jurong-east-condo-almost-sold-out-launch-day

Time will tell.

 

[iluvgst]

one must think of singapore as a pirates' treasure island with banking secrecy and no estate duties. We are where all the ill gotten loot from elsewhere is stashed. if you can grasp this, you will understand why singapore property will always be sought after.

 

[blissquek]

Sg has policies that will draw the rich, to hide their dirty money, no estate tax and low taxes that other parts of the world can't compete with.

Yes..They are all in Changi Airport under the thick steel vaults...call Freeport.

Why do they build Terminal 4 and 5.....? to let the rich easy access from their private jets to their vaults.

Thaksin was here to count his $10,000 bills and check his collections of gold coins, rubies and diamonds.

He was not here to take seafood...Thailand has better and freshier seafood than Singapore.