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It is indeed crazy for people to pay such high prices for government housing, especially when one 4 room flat in Pinnacle@Duxton is equivalent to 2 larger 4 room HDB flats in the outskirt. Driving one end to the other end of Singapore takes only half an hour, so why bother slogging to pay another $400k to 500k more for an HDB flat just to be a little closer to work in the central? That extra $500k can be better used to invest in other things.
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2 Answers

Geryl Lim
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Hi Olie,

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.

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  • AB
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    Thousands of people are slogging in office jobs to pay off their flats (including those who bought pinnacle in the resale market) so it makes little sense that they would want to add to their financial burden for some intangible benefit that could easily be substituted by good time management (i.e. setting off earlier to go to work etc.)
Steven Wang
Replied
Hi Olie,

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

Steven Wang
DTZ Property Network Pte Ltd
khim,wang28@gmail.com
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  • AB
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    You may have forgotten about the buyer who for the same price would rather buy a larger condo than a smaller hdb flat at pinnacle.

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