Quote:
Originally Posted by Unregistered
East to own a car. Just sell your first BTO flat and buy a cheap second BTO flat. Use your profit to buy a new car, pay in full cash. You get new flat and new car. So lucky!!
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Many people doing this. They get two chances of buying cheap BTO flats. Not surprising why there are many young families owning new cars.
COE prices have not come down much and likely to go up because of demand from cash rich Singaporeans who flipped their BTO flats.
Illustration
1. Buy first BTO flat for $200k.
2. After MOP, apply for second BTO flat for $200k.
3. When they got keys for second BTO flat, sell first BTO flat for $500k. Make $300k profit.
4. Use cash of $100k from selling first BTO flat to buy new car, pay in full cash.
5. Use cash profit of $200k from selling first BTO flat to pay for second BTO flat, paid in full cash.
6. Finally get BOTH new BTO flat and new car.
7. This is the fastest way to become rich in Singapore. That's why demand for new BTO flats is so high. People become very rich from buying and selling BTO flats.