Note: This article is now being selected by CPF Board to be featured in www.imsavvy.sg websites in the section of Savvy Blog Corner. Dennis Ng has been selected to be one of the 8 Financial Experts to share his views on www.imsavvy.sg
1 April 2010 - In Hong Kong, London, New York, Tokyo etc, all these major cities have a similar "phenomenon", that condos/properties "in the city" are at much higher prices than those in the suburbs, there exists a "2-tier market".
Why? Becos all Major Cities attract the very, very Rich and Wealthy. For them, they go for "prestige" and "in", they would gladly pay high prices for properties in the city.....actually, Singapore is starting to have this trend.
In the past, only District 9 (Orchard area) would command prices of S$3,000 psf, now it include District 1 and 2, (Marina, CBD), District 4 (Sentosa, Harbourfront)......I heard that Marina Bay Residences are going to be relaunched at S$2,500 to S$3,500 psf....