Results 1 to 19 of 19

Thread: A S$1.61 million price tag for an EC?

  1. #1
    Join Date
    Apr 2011
    Posts
    92

    Default A S$1.61 million price tag for an EC?

    Over 300 exec condos sold-to-date for above $1million
    The priciest hit $1.61M in August
    http://sbr.com.sg/residential-proper...above-1million

  2. #2
    Join Date
    Jul 2009
    Posts
    7,482

    Default

    I wonder what sandwich class are they catering for when they can afford a $1.61m EC. Haha.

  3. #3
    Join Date
    Jun 2008
    Posts
    1,569

    Default

    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.

  4. #4
    Join Date
    Mar 2012
    Posts
    4,990

    Default

    Not surprised, considering they raised the EC income ceiling. Since then the spurt of expensive EC purchases.

  5. #5
    Join Date
    Jul 2011
    Location
    Earth
    Posts
    4,063

    Default

    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?

  6. #6
    Join Date
    Jun 2008
    Posts
    249

    Default

    Quote Originally Posted by buttercarp
    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....




  7. #7
    Join Date
    Sep 2010
    Posts
    411

    Default

    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

    Quote Originally Posted by TKT
    Yes very tight and very scary!

    Not to mention foolhardy....




  8. #8
    Join Date
    Aug 2009
    Posts
    551

  9. #9
    Join Date
    Sep 2008
    Posts
    2,660

    Default

    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

  10. #10
    Join Date
    Jul 2009
    Posts
    7,482

    Default

    And in some of these ECs, before MOP is over, you see residents driving porsche and bmw 7 series.

  11. #11
    Join Date
    Jun 2011
    Posts
    6,134

    Default

    Quote Originally Posted by buttercarp
    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...

  12. #12
    Join Date
    Jul 2009
    Posts
    281

    Default

    Quote Originally Posted by auroraborealis
    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.

  13. #13
    Join Date
    Apr 2012
    Posts
    353

    Default

    Quote Originally Posted by radha08
    maybe they made killing in stock mkt..or made killing in property mkt..who knows their background...maybe ah long...
    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!

  14. #14
    Join Date
    May 2007
    Posts
    399

    Default

    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.

  15. #15
    Join Date
    Apr 2012
    Posts
    353

    Default

    Quote Originally Posted by nav14
    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.

  16. #16
    Join Date
    May 2007
    Posts
    399

    Default

    Quote Originally Posted by Sleepyhead
    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.

  17. #17
    Join Date
    Sep 2010
    Posts
    411

    Default

    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

    Quote Originally Posted by nav14
    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.

  18. #18
    Join Date
    Mar 2007
    Posts
    376

    Default

    Quote Originally Posted by Sleepyhead
    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.

  19. #19
    Join Date
    Mar 2012
    Posts
    7,827

    Default

    Quote Originally Posted by kane
    I wonder what sandwich class are they catering for when they can afford a $1.61m EC. Haha.
    yowetan class

Similar Threads

  1. Selegie Centre sold en bloc at reserve price of $120 million
    By reporter2 in forum En Bloc Achieved
    Replies: 2
    -: 11-03-19, 19:31
  2. HDB terrace near Whampoa sold for record price of nearly S$1.2 million
    By reporter2 in forum HDB, EC, commercial and industrial property discussion
    Replies: 0
    -: 22-11-18, 08:57
  3. The Agape up for sale, guide price at S$8-10 million
    By reporter2 in forum HDB, EC, commercial and industrial property discussion
    Replies: 0
    -: 18-08-16, 19:39
  4. Replies: 3
    -: 23-09-15, 19:49

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •