$10 million in 6 years

Wonder why people spend tens of million buying GCBs? Don't ask me - I don't own any.

But these transactions' histories just make you wonder why didn't you take that small gamble back in 2004 (I am not even talking about long-drawn historical prices in the 70s or 80s). The best part is, everyone agrees incomes have not changed much in 6 years. Well, if they haven't changed much, most people who can afford 4 million now should be able to afford 4 million 6 years ago right? The only problem would be the 20% downpayment.

If only we had taken that gamble...

Trasaction 1:

SWETTENHAM RD
15,149SQFT FREEHOLD
FEB 2010 $17,000,000
$1,122PSF RESALE

History:

SWETTENHAM RD
15,149SQFT FREEHOLD
AUG 2004 $4,640,000
$306PSF U/C

Transaction 2:

BINJAI PARK
34,586SQFT FREEHOLD
JAN 2010 $28,000,000
$810PSF RESALE

History:

BINJAI PARK
34,586SQFT FREEHOLD
DEC 2003 $9,000,000
$260PSF U/C

Well... just imagine... 4 million Singapore dollars and you are a GCB owner, barely 6 years ago. And.. in the event that you are bored of it just after 6 years - just flip it for a mere (read: awesome) 10 million profit.

Yeah right... I guess I'll just go on with my daydreaming...