Overhyped, Overpriced and undersubscribed. One friend of mine who refused to listen to me bought a mid floor sea view unit thinking that he could flip. His agent who was the same agent in reflections advertised for him to flip. You know what was the response? NIL. So he cut loss and brave it out like a man. He told me lose a bit, better than to go bankrupt in the long haul.Our readers should take caution against taking unnecessary risks
Tuesday, May 1, 2007
Reflections at Keppel Bay (Daniel Libeskind)
This just in from one of our readers
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1 comment:
Good riddance. Flippers and "get rich quick" speculators are useless parasites on a properly functioning market.
Don't want to see anyone go bust, but really, flipping means you rely on the ignorance of the developer to underprice a unit, and the ignorance of an incoming buyer to overpay for the option contact.
May be good for rookie property players like SPH selling too cheap to flippers so they can make a buck out of a poor old auntie's CPF savings, but after the inital mispricings, its not going to happen for a CityDev or KepLand Devleopment.
Tell your friend to try working and make an honset living rather than being a bloodsucking parasite. Cheers
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