Charlie8132

Mr. Market is always smarter than anybody. So therefore, do not try to outsmart Mr. Market; you are sure to lose to Mr. Market. Case in Point: In my line of work, I have got to know many Bankers. 5 years ago, these Bankers told me: Property prices too high already, better sell fast, or get caught in a big crash. The same Bankers actually sold off their Private Property homes, and rented their place to stay. But my wife and me, we bodoh bodoh go out and buy our house, anyway. City Central, 10 minutes away from Shenton Way. Today, Wifey and me laugh and smile every day, every night. Big money already made. The same guys who sold off their Property, waiting for Big Crash? They are still paying Rent. Still waiting for the Big Crash. What is even more scary is, today, I see a lot of people selling off their house and renting, while waiting for a Crash. I am afraid for them, and afraid that they will end up in a Trap like my Banker friends described above. Disclaimer: I am not saying that I am a know-it-all, who knows what the Market is going to do tomorrow, next month, or next year. I am only saying: nobody knows what is going to happen next. My wife and me, in our case, we just got Lucky.

Actually, the really really rich do not mind to buy both HDB and Condo. That is why the new Anti-Double-Ownership Law was put into place by Government: new HDB buyers cannot own Private Property. As for parking their Bentley, Ferrari, etc. in HDB, these rich guys are not so stupid. They know HDB is full of Karang-Guni Uncle and Auntie, complete with Reform School juvenile delinquent nephews and nieces, just itching to take revenge on the Idle Rich. They take Bus or MRT to their HDB. They leave their Bentley and Ferrari safely parked in the huge parking lot of their Good Class Bungalow in Holland Road! Singapore people: if they really want to live in a particular estate or a particular Block: nothing can stop them. They will pay any amount it takes. You can believe me; I have seen them do it.

Your place is City Central Area, near to Integrated Resort some more, also near to VivoCity shopping centre. Don't be afraid to ask for $100,000 or more, never mind that your flat is 30 years old. 4 years ago, I come up with $70,000 COV for my HDB in Bugis Area, I never regret it, to this day. Your HDB is not a 99-year Leasehold Condo, so regardless whether it is 30, 50, 90 years old, age of building is not an issue. Singapore government will not kick you out to let you sleep on the roadside when your 99-years is up. For sure, you will get a new HDB flat in a similar good location near to your family and friends. So go ahead, don't be frightened, and ask for $100,000 COV. Be patient. A cash-rich buyer is sure to come along. Don't believe? Look out your window and see how many Mercedes, BMW, Bentley, Ferrari zoom past on the road. Singapore is full of cash-rich people!