In reply to "Asset inflation is the primary hidden culprit behind our cost uncompetitiveness" – [1pc1998]
ekaraya - 03:04pm May 26, 2003 SGT (701.2.1.1.188.8.131.52.184.108.40.206.220.127.116.11.1.2) lpc1998
"In the Namly Crescent Property Dispute case, a 1,115-sq-m residential property purchased for $14,500 in 1966 was said in court to worth $4 million as at 20 August 2002: i.e. for a capital appreciation of 2,658.62%!"
I calculate the capital appreciation to be 27,486%, or 743% per annum over 37 years.
"but when it changes totally the character of HDB from dedicated public housing agency into just another property developer competing for profit in the market"
It is the purchasing power of the money that counts. When it comes to a roof over your head in Singapore, the dollar has lost much of its purchasing power. It is ok for food or your daily necessities or for travelling to see the world.