Read? Punggol HDB loft unit sold for S$900,000 to couple who viewed it only once
A HDB loft at Punggol Sapphire estate was recently sold for S$900,000.
The previous owner had purchased the flat directly from HDB for S$468,000 in May 2008
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Hoho shiok! 😁
ReplyDeleteProperty agent will tell you ... Wait! There's more!!!
92% is return on asset ROA. Return on capital is much higher!
Why?
Coz property can leverage mah!
Down payment only 20% ($93,600).
Borrow 80% from HDB 2.6% loan (assume they unsavvy dunno about bank loans larr).
Monthly $1,693 mortgage.
After 12 years paid $243,800.
Using primary school / property agent maths (ignoring time value of money):
ROC = 900,000 / (93,600 + 243,800) = 166% Song song gao jurong! LOL!
Ok lah ... need to pay back remaining loan:
ROC = (900,000 - 224,000) / (93,600 + 243,800) = 100%
Hmm .. so 61% who can count voted for MIW! LOL!
DeleteCW,
DeleteLOL!
I guess the owner who sold that Punggol flat is not in the camp complaining HDB flats "too expensive"; or after 99 years, our flats will go to ZERO ;)
No need 2 bites of the cherry. One bite can already!
$900K is more than enough down payment for a private apartment or condo ;)
Sometimes its luck; sometimes its skill.
Instead of whining, its better to focus on playing the hand we were dealt as best as we could ;)