In other parts of the world, people upgrade to bigger home when
family expand. Then down size when they become empty nesters. Their
house are "HOUSING", not a gold mine that can possibly explode.
Only in Singapore people "upgrade" from a spacious 5 room HDB
flat to a tiny private Condo for the facilities. How often do you
use the facilities anyway ? Really.
I have a pool in my backyard, possibly the same size of a small
condo setup, the cost of maintenance is about $200 a month. My gym
fee is only $30 dollars a month for family membership.
Yet a condo houses several family paying $300 for the facilities
? that's a lot of combined money for not very much.
But being Singaporean, I guess it's a lot to do with status.
Compliment to the government ? No, I was merely being
sarcastic.
I am not sure if it is an Asian mentality or just Chinese, house
is not just a place to stay, but also an asset where you park your
money or grow your investment. From a practical point of view, it
is indeed stupid to move from a 5 room HDB to a tiny condo, but to
many, the potential of increase in value of condo is much higher
than for condo, and you have the total freedom to the use and
sales of the condo, compared to HDB.
In many cities in Asia, there is always the housing for the free
market and that a cheaper alternative for the citizens.
But in cities like HK, the whole market is in the hands of a few
tycoons, the most well known is Li Ka Shing, and HK government's
hands are often tied when it comes to developing more public
housing which will inevitably impact the private housing. There is
not much the people can do to make money. Singaporean are happy if
the government, or anybody who can help them fulfill the housing
dream and make money.
People shows their status in different ways. To me, it is not so
much what they have physically, but their values. Where they stay,
what kind of house or apartment, got private swimming pool or
garden, club membership....the 5 Cs, ....not many know how to
express virtues or moral values, if they have any.
Houses and cars money can buy, work hard and you can get it,
virtues and the right values takes time to cultivate. Recently at a
coffee shop this not so old uncle bought everybody coffee because
he is now a GRAND FATHER, hahahaha....and that is a status not many
of us can achieve, no matter how hard we try.
