You want hard evidence that people actually made a lot of money from property investments?
In this post, I'll show you one example, based on data from
URA (see
post on how to check property prices).
Valley Park is a nice 999-yr (almost freehold) condo development in the heart of River Valley area, very accessible and near to amenities, and just a stone's throw from Great World City.
At the end of 2006, the psf value of the apartments in Valley Park are all 3 digits, ranging from $807psf to $991psf, with average being $884psf. A small one-bedroom was selling for just $660k, while larger units were fetching $1.5 million thereabout.
Come end 2007, the psf values of Valley Park condominiums rose to 4 digits, with an average of $1336psf for the 2nd half of 2007 up to October.
That's an amazing 50% increase in just 1 year. With leverage (e.g. bank loan), you can easily get 100% or even 200% return on your investment.
Small units are now fetching prices above $1 million. Big ones are transacting at above $2 million. A 1,701 sq ft unit was sold for $2.7m just a couple months back.
You could have made these profits. That is,
if you bought a unit
one year ago.
But no one knows if
now is the right time to invest in property.
http://www.salary.sg/2007/property-profits/
Property Profits
