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| Investments and Net Worth Talk all about money making exploits, shares, property and building net worth |
Topic Review (Newest First)
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| 02-12-2007 09:57 AM | |
| Salary.sg |
Property Profits 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/ |
