Property prices in Singapore have been rising rapidly for the last few years. Investors’ sentiments on local properties remained upbeat even after 8 rounds of cooling measures implemented by the government. While the latest round of cooling measure (announced by the Monetary Authority of Singapore on 28 June 2013) has taken a toll on property transaction volume, the demand for Singapore properties remain strong.
We are currently at the peak of the Singapore property cycle since 1965, with residential property prices at an all-time high. Despite the sky-high prices, there are no shortages of investors snapping up local properties. These investors are now paying for prices many years ahead, making it near impossible to have decent investment returns. Many are still buying and hoping to cash out the capital gains on their properties within the next 3-5 years. So, are these buyers investing or are they gambling?
Who wants to be a millionaire? Who doesn't? Except for the billionaires of course! Honestly, who in their right mind don’t want to be rich? But can ordinary people become millionaires? I believe with the correct mindset, attitude and commitment to reach their desired financial goals, the chances for ordinary people becoming millionaires are high. My wife and I would definitely attest to this fact. Here’s our story…
You wish to become a millionaire one day, don't you? But how? While winning the lottery is one way (my advice is don’t bet on it), I'm sure the chances of you becoming a millionaire in other sensible ways are higher. Some people work hard to climb up the corporate ladder to earn their million-dollar salaries, while others work hard to build their million-dollar businesses. There are also people who achieve massive financial success through investing in stocks, investing in properties, setting up online businesses, writing books, developing software, and inventing new products for commercialization. The list of possibilities is endless.