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Old 11-12-2019, 01:47 AM
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Originally Posted by Unregistered View Post
Seriously, all the rich people in Singapore became rich because they were either directly in Property or were involved with Property eg banks lending.

Other than that....suck eggs!

go ask all those baby boomers - those who bought property eg landed property or several condos.......they made more money just from those investments than they did in their ENTIRE WORKING LIFE'S SALARY OR EARNINGS.

seriously.

The richest people in Singapore? Property. Banking.

Sim Wong Hoo is not in that class.

Sadly those days of the property boom are gone.

You might have read about the ENT surgeon who paid $26m for a 104 year lease from Kwong Wai Shiu Hospital. Heard that other developers stayed away because they dont think they can make money. And the ENT surgeon had to borrow quite a hefty sum. Hope he does ok.
Most of the rich people I know personally are businessmen/businesswomen. Even those who dabble in property are the property developers, not so much the property owners. For those with 20 landed property, what do they do with it? Rent out? Doesn't seem to fetch as high a market rate when compared to the opportunity cost of selling it and investing that money.

But you are right. It appears that the older generation has had more success with accumulating wealth than the younger generation.

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