Valerie Kor
Fri, 15 January 2021, 6:00 am
SINGAPORE (EDGEPROP) - The top loss of the week during the week of Dec 29, 2020, to Jan 5, 2021, was incurred by the seller of a four-bedroom unit on the seventh floor at St Regis Residences Singapore in District 10. The 2,594 sq ft unit was bought in December 2007 for $8 million ($3,084 psf) and sold on Jan 5 for $4.8 million ($1,850 psf). The seller therefore saw a 40% loss of $3.2 million, which is annualised at 3.8% over 13 years.
St Regis Residences Singapore is a 173-unit condominium along Tanglin Road. Developed by City Developments, it is located next to The St Regis Singapore hotel and is a short drive to the Orchard Road shopping belt and Tanglin Mall. The 999-year leasehold project was completed in 2008.
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CW,
ReplyDeleteHmm... December 2007...
Same I guess for equities if we bought during 2007?
Then again, if we bought during 2003 SARS times, equities and properties cheap until...
Something to be said about market timing isn't it ;)
You know what I see?
I've yet to see anyone lost money buying HDB BTOs. Once anyone moved away from the "tender, loving, protection" of big daddy, whether it be HDB resale or private properties, we see people start losing money in properties once they overpaid...
That should put to rest the arguments that HDB BTOs are overpriced and not enough subsidy, blah, blah, blah... If not, why the recent discussions on "lottery" effect of some BTOs?
The same can be said for "investing" in general. Left to our own devices, most CPF members lost money using CPFIS or cash. But if we "kwai, kwai" leave money in CPF and don't touch it; and just let the interests compound, 100% sure win!
So good that some are voluntarily contributing to CPF!?
CPF has all of sudden become an "asset class"? An "investment"?
No free lunch.
The price we pay is to take away the "I" in FIRE.
Can't sing Frank Sinatra's "My Way" when all we do is let big daddy grab us by the bxlls...
Of course no sleepless nights worrying about investment losses, but you sweat bullets over "regime change"...
But you tell yourself that stocks and properties only go up in Singapore...
Nah! Big daddy will be here forever and ever ;)
"CPF has all of sudden become an "asset class"? An "investment"?"
ReplyDeleteHa ha! Well said!
Singapore Only!
Welcome to Singapore if you wish for this asset class and join 1M65 or 4M65 movement. LOL!