Originally Posted by
MLP
Hi Ringo...Ringo, what are you trying to prove? When we read a report saying that landed property prices have gone up 82.5%, that will mean "ON THE AVERAGE" the prices have gone up by that much. Obviously, some landed houses have gone up more and some are less. Just like any properties, the valuation of a landed house depends on many factors, both positive and negative.
So you can still buy a landed house at a very reasonable price (based on psf) if you look hard enough and don't mind some of the negative factors. Instead of wasting your time trying to talk down landed property prices, go and get yourself one landed house and be happy.
I can fully understand that those who have vested interest in landed property would choose to believe that they wish to believe, they will chose to generate tables to show sexy numbers as if they are capable of timing the market (that is knowing and buying at the bottom of the property cycle)
However that doesnt mean that others in this forum cant discuss facts to bust the myth of landed property prices index
Using Binjai Park GCB example, I have already prove that URA statistic on landed property is misleading as it doesnt capture the rebuilding cost of landed property before it was resold. For Binjai GCB, those blinded will choose to believe that the same property appreciated by around 100% or 15m in profit within i2 to 3 years. While those who dare questioned those numbers will see that owners has pump in huge amount of time and money into rebuilding the GCB before selling it for around 5 to 6m profit.
Like I said before, number doesnt lies, only those who misinterpret them do.
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."