7/02/2008

Good reasons to welcome more foreign talents

The PRs are helping to drive up the prices of resale flats. HDB owners are going to reap a handsome profit from selling their flats. Those who are not selling can rent their flats at higher prices. A 4 rm flat used to fetch $1000 pm in rental can now fetch $2000. So the oldies can forget about the CPF Life Insurance as they are assured of a $2000 income a month and can even get more. This is shielded from inflation unlike the money stuck in CPF. When inflation goes up, the rental will go up as well. Let's welcome the foreign talents. The more the merrier. And with HDB prices going up, private property owners can see their properties appreciate as well. Oh, just a little catch. Where are the HDB sellers going to stay if they sell their flats? Would they end up with a bigger boulder tied around their necks when they upgrade to more expensive private properties?

5 comments:

Anonymous said...

When they are the biggest landowner, rise in property prices means rise in land bids. Rise in land bids means more money in the bank for themselves to invest overseas. Peasants die die not their business. Like Boxer in 'Animal Farm', they can be sent to the slaughterhouse after working his life out for the other animals.

Anonymous said...

When they are the biggest landowner, rise in property prices means rise in land bids. Rise in land bids means more money in the bank for themselves to invest overseas. Peasants die die not their business. Like Boxer in 'Animal Farm', they can be sent to the slaughterhouse after working his life out for the other animals.

redbean said...

high property prices only benefit those who have several properties or speculating in properties. if you have just one, high or low it is still the same. you can only benefit by selling and migrating out of paradise to a cheaper place to live.

Mockingbird said...

all these bloody PRs may be driving up prices and making things good for Sinkies selling their flats. But what about Sinkies who need to buy a resale flat? Many of them are now unable to afford a flat of their choice, no thanks to this current property market boom. Sellers are opening their mouth as big as a lion and asking for $50,000 cash and above.

How can an ordinary salaried worker possibly afford such cash over valuations? So what can the not so well-off ones do? Buy a low floor unit. Buy a unit in some ulu place.

See? There are 2 sides to every coin. Not everyone is benefiting from the boom.

Anonymous said...

Well, the usual arguments goes like this: If you cannot afford to pay ERP, don't drive a car. Take public transport. If you cannot afford to eat outside, learn to cook yourself.

So, one fine day they might tell the peasants - if you cannot afford to buy a flat, live with your siblings or relatives. See how good they are in solving problems. 6.5 million population, no sweat! Bring them on!