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View Full Version : A S$1.61 million price tag for an EC?


SBR
22-10-12, 10:59
Over 300 exec condos sold-to-date for above $1million
The priciest hit $1.61M in August
http://sbr.com.sg/residential-property/news/over-300-exec-condos-sold-date-above-1million
kane
22-10-12, 12:14
I wonder what sandwich class are they catering for when they can afford a $1.61m EC. Haha.
focus
22-10-12, 12:19
But it's priced at $595psf. So a steal.. those who hate a lot of roof-top will avoid.. but I dont mind it.. can do landscape nice nice.
carbuncle
22-10-12, 13:04
Not surprised, considering they raised the EC income ceiling. Since then the spurt of expensive EC purchases.
buttercarp
22-10-12, 13:14
Actually if you earn $12k per month and do not receive any help from other sources eg from parents, never won any lottery, and have 2 kids, won't it be tight financially to pay for a 1.6 mil home?
TKT
22-10-12, 13:55
Actually if you earn $12k per month and do not receive any help from other sources eg from parents, never won any lottery, and have 2 kids, won't it be tight financially to pay for a 1.6 mil home?


Yes very tight and very scary!

Not to mention foolhardy....



:47:
auroraborealis
22-10-12, 13:59
mayb after TOP, can move in with their parents then rent out parents PC/HDB... very common these days

seldom kids get no support from parents, at least these type; those with no support buy 3/4/5 room bto hdb


Yes very tight and very scary!

Not to mention foolhardy....



:47:
Tripp
22-10-12, 14:10
http://sbr.com.sg/residential-property/news/meet-priciest-executive-condos-last-14-years

http://sbr.com.sg/sites/default/files/news/mostexpensive_executivecondos.JPG
dtrax
22-10-12, 16:57
Actually we have to almost agree that such purchase is confirm likely home purchase with parent assistance scheme. Maybe for multiple generation living. 12k/mth for a1.6mil price tag home is as we all know is quite impossible
kane
22-10-12, 17:28
And in some of these ECs, before MOP is over, you see residents driving porsche and bmw 7 series.
radha08
22-10-12, 20:21
Actually if you earn $12k per month and do not receive any help from other sources eg from parents, never won any lottery, and have 2 kids, won't it be tight financially to pay for a 1.6 mil home?

maybe they made killing in stock mkt..or made killing in property mkt..who knows their background...maybe ah long...:scared-1:
stiook
22-10-12, 20:42
mayb after TOP, can move in with their parents then rent out parents PC/HDB... very common these days

seldom kids get no support from parents, at least these type; those with no support buy 3/4/5 room bto hdb

Sounds very familiar... Anyway, I do think it is a stretch and dangerous to assume you have a job for 30 years... Unless you are a young lawyer, doctor or undertaker.
Sleepyhead
23-10-12, 08:39
maybe they made killing in stock mkt..or made killing in property mkt..who knows their background...maybe ah long...:scared-1:

even then they must have received seed money from somewhere to fund their initial 'killing' whether stocks, property or ah long...

nowadays most of the younger generation will have help from parents.... otherwise, super tough... and good luck to them!
nav14
23-10-12, 11:07
Most running their own businesses can easily underclare their income and I believe most of them do. So a young businessman making 30k a month could have declared he is earning only 10k can easily afford a EC worth even 2 million or more.
Sleepyhead
23-10-12, 13:11
Most running their own businesses can easily underclare their income and I believe most of them do. So a young businessman making 30k a month could have declared he is earning only 10k can easily afford a EC worth even 2 million or more.

Ya.. But how many young business men you know earning 30k and declaring 10k? Those are the smart and lucky ones...l. Not many IMHO. Starting and running and building a business from scratch is super tough... More failures than successes.
nav14
23-10-12, 13:51
Ya.. But how many young business men you know earning 30k and declaring 10k? Those are the smart and lucky ones...l. Not many IMHO. Starting and running and building a business from scratch is super tough... More failures than successes.

Ok maybe not so young, could be late 30s or early 40s, marry late. There should be a lot , look at the number of luxury cars on the road. You only need one to buy a 1.6m EC to make headlines.
auroraborealis
23-10-12, 13:54
Haiz... Cannot compare one; need to be born @ the right time, place & generation

Asians in general r still restively hard working & willing to save for the next generation. But given the comfort level parents r providing for offsprings, eventually there'll come a time when a generation develop "Greek-lifestyle" mentality... What goes around come around


Ok maybe not so young, could be late 30s or early 40s, marry late. There should be a lot , look at the number of luxury cars on the road. You only need one to buy a 1.6m EC to make headlines.
orange
23-10-12, 14:18
Ya.. But how many young business men you know earning 30k and declaring 10k? Those are the smart and lucky ones...l. Not many IMHO. Starting and running and building a business from scratch is super tough... More failures than successes.


I know at least 30..... from the Porsche and BMW M car clubs.... not that I audited their incomes or anything like that, but I do know that they are making a VERY decent living... $30k a month is nothing....

Those that I don't know of, probably number in the hundreds....

Go to Orchard and CCR area, plenty of young punks driving around in spanking new Audi/BMW/Merc coupes and sports cars, a number of Porsches, a handful of Ferraris and Lambos.

There you go.
Ringo33
23-10-12, 14:19
I wonder what sandwich class are they catering for when they can afford a $1.61m EC. Haha.

yowetan class