HDB flats costing $1m in the resale market, or near to $1m. COE for small cars is now $64k and big cars $91k. And the best part, Sinkies are all celebrating, or at least none is complaining. The property owners are feeling so rich. The car owners who can afford to buy just a piece of paper to entitle them to buy a car must definitely be very rich.
These are happy problems. It only means that Sinkies are getting richer by the day without having to work. No wonder they have to import foreigners to do all the works. Sinkies only need to sit on their properties and feel richer everyday. Now they can also buy cars, park in the car park and wait for the prices to soar with COEs costing more than the value of a car.
With the million dollar flats, they can make a quick pile and spend a little on a brand new car. Who cares whether the train is delayed or not moving? Who cares if COE is $100k? A million dollar HDB flat can buy several COEs and cars. Life is wonderful in this little paradise.
The best plan is to sell the million dollar flat and switch to a 2 rm flat and take advantage of all the subsidies. Don’t work, so will qualify as low income earner. The extra cash can buy a Mercedes to drive around. Hear only the good stuff.