I was recently invited to speak at the Investors Exchange organized by BIGScribe – a half-day seminar offering retail investors useful investment advice and concepts from successful investors.
I could have chosen the title “7 Common Mistakes of Singapore Property Buyers”. But no one likes to admit that they have made a mistake.
So I call it “7 Deadly Sins” instead to highlight the sinful “temptations” faced by many property buyers.
Sin #1: The “worship” of properties
Singapore is a property-crazy nation and Singaporeans are property-obsessed.
What is the Singapore dream?
Firstly, apply for an HDB or BTO flat. Then upgrade to an executive condo or private condo after five years. Next, save enough money for a second private property for investment.
Can you see that the whole life of a Singaporean revolves around properties? As we upgrade from one type of property to the other, we are also paying off …