US$30mil Singapore property? It’s okay, the property is a nice one.
Some people say property is an investment. Some people say first property is NOT an investment. Some people say better rent and not buy because renting is cheaper. Well, over 40% of richest Malaysians are property related. Read here for the latest update. Secondly, when wealthy people travel or when they have decided to stay longer in some places, they will choose to BUY a property.
Don’t we wonder why even after some people are so wealthy, they still buy a property? Why do they still need to buy a property and think of it as an investment? Don’t we wonder why they did not rent instead since it’s cheaper? If they rented, they could keep moving to nice places every other year. If they bought, they would have to stay at the same place every day, every week and every year… Yet, they bought. Here’s that one latest story about a SGD30 million (RM93 million) property.
Article in nst.com.my The wife of Grab Holdings chief executive officer Anthony Tan paid S$40 million (US$29.6 million) for a mansion in Singapore. It was a bungalow and Singapore was seen as a safe haven investment amid the pandemic. This property is one of about 2,500 lavish homes found in Singapore where 80 per cent of the population live in public housing.
The Business Times said the property had a land area equivalent to about 2,010 square meters (21,635 square feet). This is well above the 1,400 square meters standard for these houses. Her husband’s Grab will be going public in the U.S. through a SPAC deal later this year. After this deal, Tan’s fortune will go to US$829 million. (RM3.47 billion). Please do read the full article with lots more details here: Article in nst.com.my
Stop debating about whether property is the best investment
What we should do instead is to earn so much more than enough to buy a property. We should be wealthy enough so that property investment need not be a heavy decision. It could be just another decision, an easy one too. Let’s see when can I visit Singapore again and enjoy the BOTANICAL GARDEN. It’s a nice place by the way, just that weather in Singapore is like Malaysia too; hot and humid. Haha. Let’s keep hoping everything will become normal again sooner than later.
Next suggested article: How much savings is enough in future? RM3 million?