Above is my relatives' house in Southern Japan. It is a double storey detached house with 3 bedrooms. It has a built-in area of about 1,200 sq feet and a land of about the same size. The house is now about 40 years old, gone through renovations a few times. Guess what?...the house and land (free hold) can only fetch around 10 million Japanese Yen which is about S$120,000. In Singapore, the same property may cost around $8 million in the prime district or $ 6 to $7 million in a suburban area.
Their small plot of land is quite fertile and they grow tomatoes, cucumber, oranges and other seasonal vegetables. There is a bumper crop of tomatoes this summer according to them. Whatever they can't consume they will make tomato sauce and juice and store them in the freezer.
3 comments:
Properties in Singapore are too high and it is time for the bubbles to burst.
I do agree with you. Just hope that our economy will not be badly affected by the bubbles.
High property prices in Singapore are inevitable because land is scarce.
It would be better to rent out the HDB flat and live in a bigger home in JB especially after retirement.
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