As seen on a notice warning residents not to sell their property for less than what it's worth:
"The purpose of this notice is several uninformed owners have been cheated by unscrupulous property agents because many owners do not know how to calculate valuation. Value of property is derived from location, not how old the building. For a $ 1M condo unit, building cost is less than 20%. The main value is the land location, and East Coast land its sea view, minutes to Changi Airport, 8 minutes to Casino, 10 minutes to Orchard Road, with many good schools, is prime.
For example, you own a $ 1.5 M diamond but its box looks old fashion. Clever businessman engage a bunch of thieves to bluff you, buy from you at $0.8M, re-package and re-sell it for $ 2.0 M"
I was quite shocked when i read that, especially the second paragraph.
anyway, Happy Chinese New Year!
"when you think the world has turned it's back on you, take a look."
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