SINGAPORE: "What $5.65m gets you in Singapore. Send this to someone you (love)," online user Cheryl Faith, who works in real estate, shared a video showcasing a brand-new house featuring a clean and modern design.
The house was well-lit, thanks to all the large windows and clear sliding doors. The listing was 1660 square feet (land) and 4919 square feet (built up).
https://www.tiktok.com/@cherylfaithh/video/7326032505637801224
In response to the video, many asked for more details about the property listing, with a few jokingly asking if they could use CDC vouchers to buy the place.
Other house details listed were as follows:
- Inter-terrace
- Freehold
- 5 ensuite bedrooms
- Elevator
- 3 storeys and an attic
- Bosch appliances
Many also asked for details about the listing, specifically the location. Others were surprised by the price of the listing, with one saying, "I thought this would cost around S$12 million."
However, others responded by talking about how much S$5.65 million is. "How I wish I could be this rich," said one. "I want to be this rich," wrote another.
Still, a few people joked about using CDC vouchers to help pay for such a house. "Can use CDC vouchers?" one wrote. Another commented, "Can use CDC vouchers? I have been saving up."
One even went so far as to say, "OMG bro, my house is more expensive but uglier."
Back in November 2023, it was reported that in 2024, the Singapore housing supply was projected to face a decline. Towards the end of 2023, there was a slowdown in the private rental market, specifically in the public housing sector.
According to the report, this decline was due to the stark rise in rent over the span of two years. A mismatch between supply and demand in the housing scene also significantly affected these prices.
Between 2022 and 2023, about 28,600 new private residential properties were completed, not including executive condominiums (EC).
However, this surge in supply, together with the decrease in domestic demand, has led to an expected drop in the housing supply in 2024. The number of new homes projected to be completed in 2024 is only around 10,000.
Read related: Singapore housing supply will face decline in 2024: Only 10,000 new homes expected
