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$900k For HDB

>> Thursday, April 12, 2012

Looks like 3 HDB units just got sold at the $900k mark and the psychological barrier of $1m is inching closer. Many analyst give their 2 cents to say it is an exception and unique circumstances, rather than the norm, ya da ya da..

Regardless, it looks set that $1m is probably going to be hit in the next 1-2 years. Wonder if it is fair to become millionaires from government subsidized public housing.

Anyhow, who is going to be the 3 famous people?
- Huh, what are you talking about?

Basically, every single news agency and blogger out there is going to want to write about the buyer, the seller and the agent who closed that first $1m dollar deal!

So, I was thinking, why don't we work together, I sell my house at market rate, say $800k, you buy from me at that agreed price. But we declare it at $1m, under the table, I refund you the $200k. All 3 of us get famous and interviewed.

The buyer and seller if doing business like hawker, it is suddenly FREE (Ok, some technicalities of extra stamp duties to work out because I'm sure some smart alec is going to point that out to me) advertisement that more people will flock to your stall just to chat with you and buy a plate. Or maybe a GP doctor, suddenly, people are visiting your clinic more than the others in the neighborhood. Or perhaps just a simple shophouse selling stuff.

The agent, needless to say, money cannot even buy the amount of overwhelming marketing received. Everyone wanting a $1m sale would look for him/her.

Ok ok, I hear some saying it is illegal. So how about if I refund in the form of furniture vouchers and renovation rebate? Isn't i the same when developers are adsorbing buyer stamp duties, giving rebates and vouchers whilst the transacted price remains sky high?

Looks like a win-win-win situation. $1m is going to be tomorrow's norm anyway, why not go down in the history books as the first one! And it needs to be done fast as once Pinnacle @ Duxton hits its 5 year mark, you can be sure, the $1m barrier will join the stories of policemen in shorts, a thing of the past.


financialray April 13, 2012 at 4:14 PM  

With passing time and rising inflation, even HDB will hit 1 million when the next uptick in property cycle comes along, say in the next ten years.
Unfortunately, if buy at 900k now, not much profit.
Why not buy a EC now which will be privatised 10 years down the road and definitely get more profits.

Lau April 13, 2012 at 7:58 PM  

I am just as puzzled why some are paying so much for dbss which essentially are still hdb when an equally priced ec will be privatized and come w condo facilities. Why?

Blackprince April 16, 2012 at 4:07 PM  

Is cartel practise of property market exist on larger scale especially among private commercial or residental properties (freehold).

Lau April 19, 2012 at 6:12 PM  

That is the advantage of swimming with the big fish. The small fish just can't win.



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