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How much are you earning per annum?

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  #10611 (permalink)  
Old 30-10-2016, 08:36 PM
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That shows you're not exposed at all, my dad is top management in engineering (but salaried) running asia pac for his company.

Our place last offer was 8M, bank valued 10M - 11M, property guru price 12M - 13M

In our area (D10) a small terrace 2 story (which is a joke) goes for 3.5M.

I don't mean to say it but you sound really ignorant person with your post. Not assuming but I will not be surprised if there are properties along our stretch which probably have garden larger than your entire house.

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Originally Posted by Unregistered View Post
That's true. I have never heard of engineers (the salaried worker type) buying GCBs. Only those engineers who are brave enough to start their own company and eventually do well can afford GCBs.

Those salaried type engineers cannot afford GCBs. The most they can afford are cheap condos (below $2m) and cheap landed properties (below $3m). GCBs are definitely beyond their reach (above $10m).

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  #10612 (permalink)  
Old 30-10-2016, 09:31 PM
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Would you lump all your money into a GCB or buy several condos to earn you passive incomes? Engineers will spread their "eggs" into several investment baskets and earn passive income at the same time.

Engineers are also pragmatic people, seldom giving in to ostentatious showing. Most drive the humble Camry or Honda Accords, because to them, reliability beats a showy car that cannot finish a journey. And that's not because they cannot afford the lifestyle. It's just that they have better things to spend their money on.

Now you know why you never heard of engineers buying GCBs.

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Originally Posted by Unregistered View Post
That's true. I have never heard of engineers (the salaried worker type) buying GCBs. Only those engineers who are brave enough to start their own company and eventually do well can afford GCBs.

Those salaried type engineers cannot afford GCBs. The most they can afford are cheap condos (below $2m) and cheap landed properties (below $3m). GCBs are definitely beyond their reach (above $10m).


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  #10613 (permalink)  
Old 30-10-2016, 09:39 PM
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Never understood this middle class obsession with GCBs, they make poor investment tools but great for vanity (which usually people like bankers are concerned about)

The only people who bought GCB's did so last time because they were really cheap, at today's bloated prices the smart super wealthy are trying to offload them to ignorant rich people. (see Wing Tai Chairman). Ever wonder why Peter Lim bought a condo block?

Good landed property investment should be open land zoned for high rise development (see 9 Cuscaden road), they are valued over any normal landed property and are highly sought after by multiple buyers due to development potential which again holds its value (not just a group of vanity buyers). You get your bungalow and you get your value.

Believe me if you went to a wealthy family and challenge them because they don't have a gcb they immediately know the how shortsighted/immature/shallow the person asking the question is.


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Bankers usually buy GCBs.

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  #10614 (permalink)  
Old 30-10-2016, 10:56 PM
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Honestly, I think your dad's house is way over valued. When the economy goes down, the house value will surely collapse.

Not surprising why many owners are trying their luck to sell at current high prices. But the smart money is not buying these overvalued landed properties.


Quote:
Originally Posted by Unregistered View Post
That shows you're not exposed at all, my dad is top management in engineering (but salaried) running asia pac for his company.

Our place last offer was 8M, bank valued 10M - 11M, property guru price 12M - 13M

In our area (D10) a small terrace 2 story (which is a joke) goes for 3.5M.

I don't mean to say it but you sound really ignorant person with your post. Not assuming but I will not be surprised if there are properties along our stretch which probably have garden larger than your entire house.
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  #10615 (permalink)  
Old 30-10-2016, 11:39 PM
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So you say but houses in the district are still transacting at these prices, maybe its to do with Hwa Chong, RGS, NJC, Nanyang etc being in the neighborhood? Hwa Chong is like 10 mins walk from my place.

Anyway either way doesn't effect us if price go up or down. The house is fully paid for everyone is happy and we have no intention to sell.


Quote:
Originally Posted by Unregistered View Post
Honestly, I think your dad's house is way over valued. When the economy goes down, the house value will surely collapse.

Not surprising why many owners are trying their luck to sell at current high prices. But the smart money is not buying these overvalued landed properties.
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  #10616 (permalink)  
Old 31-10-2016, 12:00 AM
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Quote:
Originally Posted by Unregistered View Post
So you say but houses in the district are still transacting at these prices, maybe its to do with Hwa Chong, RGS, NJC, Nanyang etc being in the neighborhood? Hwa Chong is like 10 mins walk from my place.

Anyway either way doesn't effect us if price go up or down. The house is fully paid for everyone is happy and we have no intention to sell.
If you don't have any intention to sell, why was there a "last offer of 8M"? People don't usually offer if it's not on the market for sale. Care to explain?
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  #10617 (permalink)  
Old 31-10-2016, 12:15 AM
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Lol I find it funny you're trying so hard to find holes in my simple post.

Okay we have a small terrace around the area which we've been trying hard to rent out, because of this we've switched many agents and the agents come to our house for discussions.

One of the agents we appointed to rent out the place (thru recommendation) was somewhat naive messaged my dad and asked if we were interested in selling our place instead and she has a ready buyer at 8M. Honestly 8M for our place is a super duper good deal. Of course we turned it down politely (when I knew of it I was like wtf is she inexperienced or what?)

anymore questions?

Quote:
Originally Posted by Unregistered View Post
If you don't have any intention to sell, why was there a "last offer of 8M"? People don't usually offer if it's not on the market for sale. Care to explain?


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  #10618 (permalink)  
Old 31-10-2016, 12:26 AM
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I find your story funny. LOL.


Quote:
Originally Posted by Unregistered View Post
Lol I find it funny you're trying so hard to find holes in my simple post.

Okay we have a small terrace around the area which we've been trying hard to rent out, because of this we've switched many agents and the agents come to our house for discussions.

One of the agents we appointed to rent out the place (thru recommendation) was somewhat naive messaged my dad and asked if we were interested in selling our place instead and she has a ready buyer at 8M. Honestly 8M for our place is a super duper good deal. Of course we turned it down politely (when I knew of it I was like wtf is she inexperienced or what?)

anymore questions?
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  #10619 (permalink)  
Old 31-10-2016, 10:33 AM
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A bunch of kids arguing over cheapo stuff like GCB
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  #10620 (permalink)  
Old 31-10-2016, 10:52 AM
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And here we go again....

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Originally Posted by Unregistered View Post
Your HDB is not just a home but an asset. When you retire, you can rent out your 5 room HDB flat for $2500 pm. You can use this rent to convert to RM7500 pm (S$1 = RM3). RM7500 pm is a lot of money in Malaysia for 2 persons.

You can rent a new 2 bedroom condo in Penang for RM1,000 pm. There is a HUGE OVERSUPPLY of properties in Malaysia, that is why rent there is so cheap.

You can use the rest of your money to rent a car and enjoy eating at restaurants.
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