Some acquaintances of mine have been telling me how good the resell market has been in Singapore, and how the en-bloc fever is blanketing the nation. This was particularly when i was back in January, where friends of friends all echo the same sentiments.
Just like the mid-90s property boom, my "minute" level of understanding is that:
- yes, you can earn a lot from selling your current property
- but you're going to spend most of the income from the initial sale for your purchase of your next flat
As some folks might say, net-net same amount, or whatever goes into left pocket goes out of the right pocket immediately.
Just read a blog post here and it described how a reader's pain and challenges in going through such an experience of en-blocing, if you can even call it a word. Ouch!
[via The Singapore Daily]