Buying Property To Avoid Scam? (August 2023)

Recently I met up with a 70yr old lady. The spate of scam stories have petrified her 😖 to the point that she decided to invest her $800K into a small property investment. She says she is sick of checking her various bank accounts every day to check that the money is still intact.😣 If the money is invested into a brick and mortar asset, in her own words, she will have “better peace of mind” and "won’t fear of being the next scam victim reporting that she has lost her money."😳

One of the things we discussed were the rental prospects in future. Cautioned her that whilst rents are now high, she needs to be mentally prepared that rents may fall in future. Eg. just like how rents were at its peak in year 2013 then slowly tapered downwards till only started picking up again in 2020.

*Business Times* article “Sound Reasons For Singapore Homes to Fetch High Rents”, Leslie Yee shares why he believes there are *sound reasons for Singapore homes to continue to fetch high rents*: 👇

1.↖️Singapore’s economy is moving up the value chain. It is expected there will continue to be higher-paid foreigners living in Singapore.

2. 🏡These foreigners likely will not buy properties for stay due to the high ABSD and will likely have to lease them.

3. 💵Lifestyle changes: more people are doing more from their homes and therefore may allocate a larger share of income to leasing a home.

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