From your perspective, it is probably more leaned towards the monetary value of a property but for these owners especially those who purchased a resale unit value it more on the intangible value side of the property, for example being near to their parents for care of the young children, walking distance to workplace so on and so forth where it is less measurable or differs between the different individuals. I highly agree with you that $500k is alot of money, which I suppose an average HDB dweller will not have this amount of cash in hand. For those with this amount of caah on hand, they will probably also not fully dump in these cash for the purchase but take up housing loan and invest this amount of cash elsewhere which generates higher returns than the interest of bank loan.
Visit and Like my facebook page at https://www.facebook.com/propertyblogshop/
New Singapore Expatriates on facebook is up and running. Come join us at https://www.facebook.com/groups/newsgexpats/
Real Estate Director
Masters Of Real Estate
M.O.R.E Property Pte Ltd (L3010548F)
CEA Reg R014783H
M.O.R.E Landed Dynamic Alliance
Home of *7772 Hotline
Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ "Landed 7772" in Mobile Apps Store or Play Store now!
You are totally right in your reasoning.
In fact, the person who purchased a resale unit at the Pinnacles has the same thinking as you..
He would be asking himself :
Why pay $ 2mil for a LH 4 bedroom condo when he can get a LH Pinnacles at half that price ...
Another will be asking Why pay $4mil for a FH PH if i can get 2 units of LH 4 bedder ?
It all depends on how much spare $$ one has , and his investment perspective.
If you love to discuss such investments, write to me
DTZ Property Network Pte Ltd