big cheers for orchard turn
the high bid for orchard turn has been greeted with big cheers by market players. it has brought a big smile to many happy faces. the property market is going to use it as a benchmark to guage property prices. it is a good sign that property prices are looking up. is it a good sign or a bad sign? singapore is losing its reputation as a shopper's paradise. the prices of things here are getting more expensive compare to our competitors. if malaysia can get its acts together, all the shoppers will be flocking up north. they have so many natural advantages. low wages, lower property prices, all means lower cost. why is it that we are cheaper than them? there is no reasons for malaysia or any other asean countries not to sell their products cheaper than us. all their costs are lower than us. and with our property prices being driven up again, it is a matter of time before we priced ourselves out of the market, just like our labour. once we are deemed as expensive, game over. we lose our competitive advantage. our retailers cannot make a living with such high cost of land and rental. they can only sell to a captive market up to a point. when people find it cheaper to buy from neighbouring countries, they will do so. when tourists find it cheaper to buy from somewhere, they will skip here. all the supporting industries will fall apart. three cheers to higher property prices. three cheers to welcome the death of retail businesses. and three cheers to the death of shopper's paradise.