*~Nothing much~* |
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Tuesday, October 25, 2005
day-dreaming... if one million singapore dollar drop from the sky right now for me. guess how i am gonna use it? dammit man... i am gonna use it to buy TWO villas in Shanghai. each of them will be more than 300sq m. seriously... even though china is trying to cool off its property price coz it is super inflated... it doesn't mean that it is not a good idea to invest in real estate there. just that it won't be a good idea to borrow from the banks though. come on... two top-tier villas that is like at the prime location for 500k Singapore... one 3 room HDB flat in singapore in my area is already like 300K... and if you talk about a private apt unit along orchard, it is gonna cost you more than 1million oledi... so forget abt villas. but in china, you can get that for 500k... how can you ever beat that? you just pay for them in cash, then rent them out. if i remember correctly, last time my friends rented a lousy apt unit in shanghai, it cost them about 800RMB... imagine renting the villas out for 20KRMB to the expats per month... that would be like getting 4% of interest from the bank every month. how shiok can it get??? got market or not you might ask? well... i would think there is, coz it is located just beside two international schools and a stone throw away from one of shanghai's largest shopping area. seriously... i think i would be under-charging. one of my mom's friend rented her private apt that is like quite near to orchard for 5K singapore dollar a month... 5K singapore... that is like 20K RMB... and hers is an apt... and it was snapped up like a week after she posted the ad... so i dun think a rent of 20K is gonna price myself out... plus, it is not a case of the housing being too expensive for investors. it is essentially that the housing is out of reach for the locals... coz you get assholes like me that earn their money in USD or Singapore dollars... but invest them in chinese properties in RMB... so obviously, for local that are earning 3k RMB a month it is astronomically expensive, but to expats, it is seriously peanuts... hahahahahahaha and you hold it for 2-3 years and you would have gotten the money back... wat kind of investment nowadays give you that kind of returns? and at the end, you have two freaking villas under your name!!! and oh yeah... i should mention it from the beginning... this villas i am tokking about are developed by singaporean developer... not some shaddy chinese ones that cheat your money by using lousy material for building... we are talking about top notch quality housing at a very very affordable price for foreigners and in the singaporean context. to tell you the truth, i doubt that the shanghai property price is ever gonna drop... no way... as it grow bigger and develop ahead... it will become just like new york and other big cities... even if there are so much more undeveloped land in the rear of china... property price along the hot spot areas will remain hot and maintain its "cosmopolitan-value". i pity the local chinese for rich fat assholes like me will always try to earn a quick buck or two at their expense.
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