property prices are rocket high (and still going higher!!!)

some of our friends are commenting that i blog rarely, but actually it is cos i don't have any interesting pictures so show you all... have la but i not as on as the past to download and post for you all... hahaha... wenhui say i should blog more about our wedding preparation process, so ok tell you all more about our home-hunting process... =)))

as you can see from my title, and should have already known (if you are living in singapore), that property prices are CRAZILY high... i tell you, the market is irrational... completely irrational... you will understand why after reading about our experience...

for the past few weeks, we have been very hardworking, going to many house viewings over the weekends. last year, we were considering 4/5 room flats but this time round, we decided that we cannot afford it, due to the high cash-over-valuation (COV) amounts and the high absolute values of the flats, so we stuck to viewing only 3-room flats. you would have thought that 3 room flats are very affordable right... read on...

looking at Q407 average prices for a 3 room, the estimated Q108 COV should be about SGD 20k... imagine having to fork out SGD20k in cash on top of an already expensive 3 room of an estimated SGD 190k... 1 year back, my aunt bought a place in kallang for SGD 190k... and kallang is a very good location loh... now, even a place in far away hougang, dream on if you want a home near the mrt for SGD 190k... my aunt's place is 5min from the mrt and 3 stops from city hall. an hougang home that is 10min from mrt and *counts on fingers* ok whatever, i duno... many many stops from outram mrt and then we need to change train and take another 3 stops to city hall *takes a breather*... this home cost about SGD 215k...

*sigh* how to buy house now you tell me??? anyone out there who works in the government office? can help or not?

*silence*

yea yea i know... unless vin and i are earning a combined of SGD 3,000 then there will be help... but in this grossly inflated property market, shouldnt there be some more help given to new start-ups like us??? hahaha ok nevermind my ranting... let me continue my story...

so one of our agents suggested for us to take a look at redhill area since vin wants so much to continue being a town kid. 'go there and see then vin will stop wanting to buy a town home la' my agent recommended. so i happily agreed. 'else how to let him stop wanting to considering a place there' i thought. and i told my church friends that yesterday too. but they say what if i become the one who wants to buy the place and vin is turned off by the price? i laughed it off...

so we went to the redhill place yesterday. it is at the highest floor, 16th floor, just above the redhill market and less than 5min from redhill mrt. totally unblocked view and is very windy. it is also the corner unit and pretty big for a town 3-room flat - 68sqm... but their offer to us is SGD 270k!!!!! would you pay this amount for a 3 room flat????? but i almost wanted to get it and vin was the one who kept talking about how expensive it was, till i finally realised that oh ya hor, it sounds abit mad to buy the place leh...

imagine a conversation:
Jean: hey everyone!!!!! we finally got a home!!!!! =)))))
someone: wow congrats!!!!! where is it and how much you pay???
Jean: it is at redhill leh!!! so good right????? we paid SGD 270k!!!!!!
someone: waaaaa redhill very good leh!!!!! 4 room ah?
Jean:errrmmm it is a 3 room leh...

*silence*

someone: errr... ha ha ha... errr... good buy... *silently under breath* siao ah!!!

ya so we thought... siao ah!!!!!! but then again, we can 'rationalize' that we are paying so much for location loh... redhill is just 4 stops from tanjong pagar, so vin will only need 15 min at most to reach his office... but then again... we thought that we rather buy a place for SGD 200k and spend half hour more on the journey to and fro home ba... SGD 70k can do alot of things right... ya la... SGD 70k is alot la... ya la... SGD 70k is alot... (still trying to psycho myself until now that i should not buy the place actually...)

=Pp

irrational market = irrational me