6/24/2022

How much to buy up all the condominiums and private apartments in Singapore?


Resident households in condominiums and private apartments Singapore 2012-2021
Published by R. Hirschmann, Feb 23, 2022

In 2021, the number of resident households living in condominiums and private apartments in Singapore was approximately 229 thousand. Condominiums and private apartments are private residential units in Singapore and not under the management of the Housing Development Board. The majority of Singapore residents live in public housing under the purview of the Housing Development Board, known locally as HDB flats.

In 2021, there were around 332.98 thousand condominiums and private apartment units in Singapore. Condominiums and private apartment units are not under the purview of the Housing Development Board.

The above statistics published by R. Hirschmann could allow a simple extrapolation of how much is needed to buy up all the private apartments in Singapore, assuming that there is no restriction or limitations in a free market situation. Before going into that, there are just about 1m HDB flats on top of the private apartments and landed properties. And of the HDB flats, 80% were occupied by residents ie citizens plus PRs. Quoting from HDB, 'With more than 1 million flats spread across 24 towns and 3 estates, the Singapore brand of public housing is uniquely different. The flats spell home for over 80% of Singapore's resident population, of which, about 90% own their home.'

What is unknown from the above data is the number of Singaporeans living in private apartments. It only states that 229,000 resident households lived in private apartments but no breakdown on the number of citizens versus PRs. How many of the 333,000 private apartments are occupied by Singaporeans?

Let's come back to the question of how much would it cost to buy up all the private apartments in Singapore. Assuming the average price of a private apartment is $1m, total value would be $330b. If average price is $2m, the total value of 330,000 units would be $660b.

What is $660b to a big country like China or India? China has a reserves of US$3 trillion. Theoretically, China or India could buy up all the private apartments in Singapore if they have the intention to do it. Can you imagine what would that mean in a free market Singapore where everything can be bought on a willing buyer willing seller basis?

What is $660b? Any takers?  Actually Elon Musk or Bill Gates could do it if they are interested, as good as buying up Singapore. It is so cheap, so affordable.

4 comments:

  1. In business, when a big customer is unhappy with a small business for whatever reason, he would simply buy up the business and tell the owner to go take a walk.

    ReplyDelete
  2. The 卖国贼will says it’s for 99 years ONLY..without knowing before then there’ll b no more Singaporeans

    ReplyDelete
  3. Now that's a bubble looking for a pin!!
    🤣🤣😂
    Just get out before the bubble explodes!!

    ReplyDelete

  4. Wonder
    Sin belongs to who.

    Anyone knows ?

    ReplyDelete