Saturday, December 22, 2018

Planning a future in Forest City

I have just bought an office unit at the landmark tower in Forest City. It is next to the transport hub and the sales gallery. I have earlier bought a 3 bedroom apartment.

Here are some reasons why people think that this is a mistake.

a) The new PM is against Forest City.
b) The new govt may impose further restrictions and new taxes.
c) Is there a risk that this project will collapse?

Here are the reasons why I decided to make the purchase:

a) I am able to get an attractive price, due to the uncertainty.
b) I have spare cash and does not need to rely on bank financing.
c) I am looking at 20 years ahead. Will Dr. M last 20 years?

What will Singapore be like in 20 years' time? We may be in big economic trouble due to our high cost and a more protectionist world. One of my grand children may wish to live or work in Forest City.

I will probably not be around to find out.

1 comment:

Yujuan said...

Agree with Mr.Tan.
Singapore folks should have an exit plan for self protection.
With not much confidence with the political and economic situation here for the next 20 years, make preparation to have a piece of property outside Singapore, and keep some gold as insurance, we can't tell our mighty S$ would stay strong in future.
However, we prefer to invest in landed, freehold property in Malaysia, with the exception of K.L.

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