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SINGAPORE PROPERTY WEEKLY Issue 362
And now, over to K: I rented out the apartment for 16 years and
just recently NormantonPark went enbloc and
Dear Sir,
I got $1.7million for my unit.
I am in complete agreement with Property
The $300,000 which I borrowed from the
Soul that you should not buy property based
bank was essentially paid off by the monthly
on FOMO. Property is a long-term investment
rent I collected from my tenant. So that the
and one has to be very careful when buying
apartment was essentially free to me.
property.
One must be patient and invest for the long
I would like to share my experience on
term torealize the gains. Property investment
property investment and how one could make
is not about location, location and location. It
some decent gains.
is actually timing, timing and timing.
I bought Normanton Park way back in 2002
right after the Dot Com crisis and before the
onset of SARS. The property cost me Regards,
$385,000 and I thought it was a bargain for a
K
1,271 sq ft apartment.
Non-Landed Residential Resale Property Transactions for the Week of May 28 – Jun 1