Why do u think everything is so expensive and your money seems like not enough always???
It is simply due to M3 growth
2003 (millions)
Jan 190,001.1
2012 (millions)
Mar 462,461.7
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The magic ratio is 2.43, means our total money in circulation has increased by 2.43X since 2003 Jan
If GLS OCR in 2003 reserve price is 200psf, today it has to be 480psf
If GLS RCR in 2003 reserve price is 400psf, today it has to be 972psf
If GLS CCR in 2003 reserve price is 600psf, today it has to be 1440psf
Otherwise, we are not selling our lands at market value, otherwise the Chief Valuer must be fired for not doing its duty
As for the construction cost, it could be even WORSE due to rise of commodities prices, 300psf is bare minimum now. So any OCR project land bid is 500psf, construction cost is 300psf, developers must sell above 1000psf.
So our property market is healthy, no bubble, it simply represents the M3 growth. For property to become cheaper, money supply must become less ... you can pray in the face of money printing machines operating at full speed in the whole world
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If your salary is 6k today, it simply has the purchasing power of 3k in 2003 or less
A cup of kopi was 50 cents, now is > $1, Toast Box kopi is $1.60 .. food in hawker centre price not up by 2.4 X but size is halved :-) Only prices of computers or TVs are becoming cheaper due to technology advance. As for cars, COE is damn cheap now at $60k as 60k = 30k in 2003
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