Wait till you hear about the real estate prices in Singapore!I walked by a presentation centre while shopping along Orchard Road, the most famous road in Singapore, and I thought it would be interesting to go in and check it out. It was a nice development, fantastic location smack in the middle of Orchard Road, and some amenities such as a pool and gym. There were 1, 2 and 3-bedroom suites available and the furnishings were definitely upscale and very modern. The price tag? From $3655SG per square foot! (For prices in your local currencies, check out www.xe.com) OH MI GOD!!! Now I know that this is prime location and everything, but come on! Give me a bloody break? Over $3500 per square foot??? There is a development in Vancouver that is selling at $1000CND per square foot and I thought that was bad. This is just beyond ridiculous! Later, I saw an article that talked about recent developments and their prices start from $2000SG per square foot!!!

Geez… How on earth are people affording this? The even more unbelievable thing is that this development and many others are almost sold out!!! So who’s buying? Definitely not your average Singaporeans, that’s for sure. According to a source, it’s, and I quote, “those rich oil tycoons from the Middle East trying to hide their money.” Ohhh…So that’s what happening. I guess that’s what happening all around the world that is forcing the price of properties up to the point that none of the average working class citizen in that city can afford to buy a place.

I said it before and I’ll say it again: I am SO glad I bought when I did. And I am NOT selling!