Driven by the recent hype over the launch of Gem Residences, I decided to visit the sales gallery last Sunday. It would be interesting to find out from the horse’s mouth the stories of the project. For examples, 1. 1,449 cheques were collected before the launch but only 360 buyers showed up on the launch day, with 51 percent of the 578 units (i.e. 295 units) sold. 2. … [Read more...]
Take it or regret later
Best offer to board the last flight Last week I was at the Hong Kong International Airport trying to catch the 8 pm flight back to Singapore when the staff at the check-in counter gave me an unexpected offer. “Ms xx, are you in a hurry to fly back? We have checked in 300 passengers and the flight is already full. Can we put you on the next available flight departing 1.50 … [Read more...]
Telling the good developers from the bad ones
A priest is dying. On his deathbed, he asks to see a property developer and a lawyer. Both of them arrive timely to see him. “We are very touched that you remember us at the end of your journey.” They tell the priest. The priest gasps, holding tightly the hands of the developer and the lawyer. “All my life I’ve been following the footsteps of my Lord. And I want … [Read more...]
How to read a new launch brochure
The following article is an excerpt from my book No B.S. Guide to Property Investment, a bestseller at Kinokuniya and Times bookstores. In 2002, I went for a flat viewing in a commercial and residential mixed development off Balestier Road. It was a three-bedroom apartment, nicely renovated and very well-kept. But I could easily tell why the owner had difficulty selling it, … [Read more...]
Do home buyers know what they are buying?
Money can buy you a new apartment or a big house. But it can’t buy you discernment and wisdom. Being a property enthusiast, I have stepped into a hundred showflats and gone to hundreds of flat/house viewings. I am often surprised by all the wrong types of landed houses, private projects and condominium units that home owners bought. Trust me, all of them have nothing to … [Read more...]