En bloc wealth, real or illusion?
Lucy Huang wrote to the ST complaining that after benefitting from an en bloc sale, she is having trouble finding a replacement unit of equivalent locations as the prices have gone way way up. If she is to benefit from the sale, then she either has to buy an unit at the fringe of the island or downgrade. She is now calling for the govt to intervene to bring down the prices of flats nearer to the city areas. Now, can I say 'Did I tell you?' I think all those who benefitted from en bloc sales should just buy another property, cheaper ones, either smaller or away from the city and enjoy the cash windfall. They can't have the cake and eat it at the same time.