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Friday, 19 May 2017

$1 Billion Dollars Bid For Queenstown Land Parcel!



Record $1b bid for Queenstown land parcel



Cool or what!?

If you look at the bottom picture, to the North of the orange Sale Site boundary, there's a quaint Taoist temple just on the edge (not clear on the pic).

4 HDB blocks further North, that's where I grew up in my HDB 3 room flat πŸ˜ŠπŸ˜„πŸ˜…πŸ˜πŸ˜›


And to the left where you can see landed bungalows, that's where my family GP lived. His clinic is the white HDB just North of the Sale Site boundary.

He should be in his 70s now? He inherited his clinic from his dad. Not bad right? I mean one clinic with an assistant only - 2 person show. And serving ordinary Singaporeans in the HDB heartlands; not "attas" patients in Orchard Road.

Those were the days when landed properties were within reach for most professionals.

He worked hard. I remember his clinic was open in the morning, afternoon, and night. Of course got 2 hours lunch and dinner breaks, but still...

Now the clinic is opened only in the morning and afternoon. I think he has earned the right to "relax" a bit. Wink.

People of his generation will never understand the youths of today seeking retirement by 35.


Big daddy very smart. That place had been left empty for around 15-20 years or more? Pay en bloc compensation at 20 years ago prices, patiently wait and wait, and when "Ah Tiong" comes awash with money, sell!

Now that's something I should emulate!


I remember my Dad and our neighbours were quite excited about us being en bloc soon 20 years ago. Rumours were flying all over the place. Then the enthusiasm faded away with each passing year...

I guess the flame of hope has been rekindled?

I wouldn't hold my breath.

But in another 15-20 years? Who knows?

I mean when we hit population 8 million, tearing down older 12 storey HDB flats and replacing them with 43 storey HDB skyscrapers makes a lot of sense. 


First reaction when reading the news is a smile. I resident of Queenstown mah!

But then, it reminded me of the Japanese in the 80s overpaying for properties in the States during their shopping sprees before the Japan economic bubble burst.

Then I smiled again.

Good, good.

Sell high is always better than selling low like those investors who bought Sentosa properties at the highs and now selling low...

Big daddy making money is always a good thing.

Maybe.






9 comments:

  1. funny thing about me is that when i "invest" in property and stocks alike, i guess i'm the only one hoping that my investment will not go up in price!

    why would i want them to "bull run"? if their prices stay low, i can buy some more if i have more money when times pass isn't it?

    sad to say right now i have only one tiny appartment enough for us to stay comfortably, prices are damn too high to buy another one!

    ReplyDelete
    Replies
    1. coconut,

      I can understand.

      During my accumulation phase, of course I want to prices to stay low or go lower a bit.

      When I'm done accumulating, when prices go up I just smile.

      I turn deadly serious when its harvesting time!

      I don't subscribe to the Buy-and-Hold mantra.

      I prefer to follow big daddy - buy and sell :)


      Delete
    2. correction!

      no, i think i'll rather my investment go down in price, the lower the better!

      i intend to buy another appartment so that both my children will not have accomodation problem in times to come.

      Delete
    3. by the way i don't think houses in singapore are investment unless you own more than one unit. thats why unless price are going way down, i'm not stepping in again.

      Delete
    4. one thing i hate most is when someone told me how cheap it was when houses were 10, 20, 30 years ago, they never get it don't they!

      Delete
    5. some can even tell me their granpa buying houses stories haha.....

      Delete
    6. coconut,

      Must give chance.

      Property is probably the asset class where the majority of Singaporeans have made money - rich or poor.

      Of course must bring up the time when their grandparents bought their landed property for less than $100K!!!

      LOL!


      To lose money, you must either be very "suay" or whiter than white when it comes to "bei kambing"...

      I mean going by Singapore's past experience, even if we bought at the top, just wait 15-20 years will "breakeven" mah!


      Hmm... You need to buy 2 properties for both your children?

      Hmm... For a parent to say this, I don't think its one of your proudest moments...






      Delete
  2. The developer must be thinking Cheap when comparing to HK. Selling from $1780psf, good luck to them!

    ReplyDelete
    Replies
    1. WolfT,

      If the property developer sells mainly to foregin investors with money to burn, then its no harm; no foul.

      But if the development is bought by Singaporeans, I guess that's one way to become asset rich; cash poor.

      The developer will snigger, "See? Don't need to outrun the bear one. Just have to outrun the hunter beside you can oredi"

      Ouch!

      Delete

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