Thursday, April 29, 2010

Fussy?

Are Singaporean first time home owner fussy? This is a question I ask myself. Some people say that the current price is too high while the authority claims that people are just fussy on the location of their homes. I remember a few years back, there is an oversupply of new homes which could have indicated that these people could be fussy. But could it be due to the reason that during that time, the price of the resale flats compare to new flats are not much higher and together consumer confidence and income level is high enough that these people have the luxury to choose where they prefer to stay? But for right now, because the price is higher and resale flat is even higher that these people began to be priced out? This need to be investigate further.

Can they be fussy right now? If I am a first time home owner and I needed a flat, I will definitely like one that is within my choice location. However, my choice location may not have new flats, I will have to select other areas where new flats are built else I can't just wait and wait until new flats are built in my choice location. So I can't afford to be fussy to the extend of even selecting the floor level. If coupled with issues of not able to stay with parents and the need to have privacy, I will definitely just grab a flat of my 2nd, 3rd, 4th or even 5th choice. Or rather, simply there are no choice but to get a new flat within my means or get a resale or rent. So whether this 'Singaporeans are fussy' statement really need to be review.

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Location:Singapore

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