At the rate the PRs are snatching the resale flats, there is no
way for the prices to go down. The PRs have the money.
Not sure if it's their own money or they borrow or what... but they
are sure willing and can afford to pay the high COV. My
friend's first hand experience witnessed that. My friend saw
a resale flat suitable for my friend to stay with her elderly
parents who are sick. But got a PR offered $160,000 COV and
of course eventually got the flat. My friend just short of
$10,000 available cash. The flat was sold at
$868,000.
so your friend was actually prepared to pay $858,000 for the
same flat? your friend PR also?
