Sunday, June 13, 2010

$36 million sentosa cove bungalow

How much are you wiling to pay for a bungalow in Singapore if you have the means?

With land being a premium, the prices of housing in Singapore is not low. An executive condominium can easily command a price of $1 million and more. The prices of bungalow will be in the leagues of $1 million and more, depending on the size.

But fancy paying $36 million dollars for a bungalow? Yes, that is what one China foreign folk did.. buying a posh bungalow at the exclusive ultra-premium Sentosa Cove. This guy must be a multi-millionaire or a billonaire at the very least.

I am not really shocked. The number of ultra-rich people in Asia is rising with China and India, the twin engines of Asia gearing up! It is not news anymore to hear of China Chinese, India Indians or Singaporeans lapping bags and other luxuries at our Orchard roads for $100,000 and more per shopping trip. These guys and gals are dirt-rich!

In Singapore, the proportion of millionaires (people with a disposable income of a million and more, excluding property) now stood at around 11%, numbering around 61,000! Again, I am not really surprised now that there are so many millonaires around us as many Singaporeans are entering into businesses (profitable ones), doing well in their jobs or are experts in investments.

Again, this is just one side of the coin, there is also the lower segment of the population who earn $2000 and below in our society. This group consists of the lower-educated or those who could not find work after retrenchment.

I think the onus of breaking out of the poverty trap if one is really in, rests on one's self. One should take action, e.g taking courses or developing their career competencies to increase their employablities and taking-home.

It may not be easy, but one must never give up. For me, I am also, constantly striving, never giving up, in my pursuit for a better life.

As such, I do not really like those jobless young men at the void deck of my apartments or beggars. They can really take action towards a better life. Small incremental steps will accrue one day to a positive change.

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