Friday, November 16, 2007

Singaporeans are Easy to Rip Off

Just found this out. The studio unit of 30 sq meters in which I stayed, was bought for SGD40k. Then some smart companies went to promote City Living Condo in Singapore.. and sold them studio for a good SGD72k average with promise of rental opportunities at about SGD400 per month. Coz.. you can’t get anything for SGD72k in Singapore and not surprisingly, people fell for it, thinking it could be long term investment that is self funding via rental.

Now… this area is Red Light District. Average rental is between SGD140 – SGD280. Who then rents the condo for SGD400. And to add to that, the market price of these units as of current date are about SGD60k.

Kena rip off lah.. .some Singaporeans.

The moral of the story is… do your own research if you intend to invest in foreign properties. Yes… one day, maybe the price of the units will go above initial purchase price, but still.. you have been ripped right from the beginning. If you have cash to invest, then bring them over by yourselves. Walk into the showroom, and the deal will be done, transparent and at the real local price.

1 comment:

Anonymous said...

I am not surprised, generally, there will always be many gullible Singaporeans , and easy to be rip-off, they think if the price offered to them is lower than what is compared in Singapore, so it must be some real bargain.

A Singaporean Living and working in BKK