Eh bro, you hear or not? Got one 50-year-old jumbo four-room unit in Moh Guan Terrace sell for $1.5 million in May 2023 leh! Aiyoh, sibeh shocking! That one almost can buy 3 used Lamborghini already, and somemore the unit only got 48 years left on the lease. Meaning ah, every year you throw away S$31,250. Madness sia!
The State of Mind of This Buyer
Let’s try to understand what this buyer thinking ah:
Nostalgic Uncle: Maybe this buyer last time stay there during kampong days, miss the place until siao. So emotional until logic fly out the window lah.
Super Rich: This buyer confirm got too much money, dunno where to spend. Got too many zeroes in the bank account until blur, think S$1.5 million is chicken feed.
Investment Blur Sotong: Some people think old properties confirm got potential to increase value. They see S$1.5 million like cheap deal. Wah piang, cannot see that the lease is like countdown timer meh?
Secret Agent: Maybe this buyer know something we all dunno. Maybe gahmen going to do something to that area, build MRT station, build new shopping mall, so the price will chiong, chiong, chiong!
Impact on Younger Generation
Aiyoh, now we talk about the poor young people lah. More and more of these old properties start to sell above S$1 million, then jialat liao:
Price Go Up Up Up: Young couples confirm stress lah. How to buy first home when all the old HDBs also sell so expensive? They need to save until hair white before can afford.
BTO Madness: More people will rush for BTO flats, but BTO flats not enough for everyone. Then queue become longer than NDP ticket queue.
Loan Until Siao: Youngsters will have to take crazy big loans to afford these kind of prices. Then every month eat grass because all salary go to pay loan.
High-Risk Investment: If young people follow this trend, buy old properties thinking will sure make money, they might end up like the buyer – throw money away every year.
Conclusion
So ah, next time you think of buying property, must open eyes big big. Don’t follow blindly and end up throwing money into the sea. Moh Guan Terrace $1.5 million case is a wake-up call sia! Younger generation need to be smart, plan properly and don’t let emotions and trends make you do silly things. Remember ah, the roof over your head is important, but don’t let it become the noose around your neck!