Sunday, July 15, 2012

Bugis Cube created wealth!

Simply amazing! 

The Bugis Cube concept we introduced is quite interesting. Since we launched the first units over 3 weeks ago, the first buyers actually fliiped quite a few of the units and I found out today that some sub sales have transacted for up to $130 to 140 thousand premium!

Kudos to buyers who managed to get units as they laughing all the way to the bank. Commercial property prices have moved since then as quite a number of developers are upping their prices therefore creating an overall upward trend in prices of commercial property.

Developers are factoring commercial property prices at $4000 to $4500psf when determining how much to bid for land in new government land sales auctions. The bulk of our units have been sold and we have passed the 90 percent mark in sales. Some of the units are actually very good units and I am considering increasing the prices these units along with the market.

I highly recommended investors to go into the commercial property a couple of years ago and those who listened have profited. Even those who invested into my second pick of industrial property have seen very good returns as well. I have shared with my students the importance of trend analysis. Picking out the right trends can determine whether your success. There is a queue of participants for my property course and my guys are pushing me to teach a few more courses....

I am taking my time to decide; the only factor that I’m considering is that many property investors are still investing recklessly.

I hope to be able to share our style of prudent investing with all of you. If any of you can suggest how I can achieve that without me personally teaching, I will be very grateful.

The recent easing of the tension of the European economy has put many people’s minds at ease. The stock markets have already recovered to pre-crisis level. There is increasing confidence with international investors. The Chinese government has also cut rates and seems to be softening on their stance on property developers. All these factors have created comfort amongst investors. What can I say? People tend to have short memories.

I was in conversation with one of the property consultancy firm’s top guys today. He is seeing money that was bypassing Singapore and going to Australia to find deals actually coming back to Singapore. This is because the withholding tax situation down under is discouraging this money. We might see another round of price hikes in property prices over the next few months.

Till the next update, take care and God Bless!

Your Friend,
Andy Ong