I also agree that this is the best idea. The forummer who suggested this combined good ideas from others. Your brother's $1.7m condo is very valuable asset that he can now monetize given his circumstances. What he needs to do is to identify cheap, undervalued properties so that when he buys, he can tell his friends and family that he is positioning himself to take advantage of potential capital appreciation in locations with strong growth potential. One region where there is very high capital growth potential in the long run is the West region of Singapore. With the Jurong Lake District plan, the Jurong Region
MRT line, the Downtown Line, etc, the West's property prices will go higher in the long run.
Some new condos your brother can look at are: Hundred Trees in West Coast (just TOP in 2013), Caspian (JLD growth story, next to Lakeside
MRT station), Lakefront Residences (JLD growth story, next to Lakeside
MRT station, TOP in 2015), Tree House (exclusive Chestnut area, Downtown Line 2 opening in 2016 (near Hillview
MRT station), just TOP in 2013). There are 2 room units your brother can consider, priced at about $1m only. Hope this info will help your brother in his new property search.
Quote:
Originally Posted by Unregistered
This is the best answer to my brother's problem. Yes, he doesn't need to downgrade to a HDB flat, it will be too big an adverse impact on his social status and esteem. Quite surprised to find that there are still many condos selling below $1m. He has to sell his prized condo and settle for a cheaper one. I think he also needs to cut his expenses. Selling his 3 series would be a good start. And stop the maid's employment too. He just has to learn to do the household chores, no more ordering around.
Thanks everyone for your ideas. |