I read with incredulity a Strait's Times article (dated 2 June, 2012) about how a recent study by BCG has found that one in six Singaporean households are millionaires. That is to say, 17% of Singaporean households have investible assets of US$1million or more. Do note that property and other non-financial assets are excluded from consideration, which means that the number of rich in Singapore can only be more mind-boggling. Is the study credible? I find it such statistics hard to believe.
My eyes were opened not long after embarking on the job.
During the interview I told my directors that I wanted a stimulating job that will keep me challenged and on my toes all the time. Maybe I bargained for more than I could chew. Perhaps as a test to me, they had no qualms about assigning me a penthouse in district 4 as my first case. Just imagine, a newly minted valuer coming to terms that he was going to inspect a S$3million property. I put on a brave front, managing to circumvent the process without making myself look too stupid. Nevertheless, I still chortled a bit while writing down the zeros.
During my inspections I sometimes get to chat with owners. As I get more accustomed to the inspections, I can expend less concentration on jotting down the necessities and instead shift that into making conversation with the owners. These are the conversations I'm most fond of - the why and how of their decisions. When trying to find the words to describe another awe-inducing property I was inspecting, the words 'opulence on display' comes to mind. Upon entering the living room, I gasp at the expanse of space. In land scarce Singapore, it is a luxury few can afford. I peer out through the balcony, and am greeted by an unblocked 180 degree view of the swimming pool. I trot to the toilets, and notice that the floors and walls are fully decked out in fine marble. That the location is prime, nestled along River Valley Road, in the vicinity of Oxley Road (the humble abode of you-know-who), goes without saying. The price tag? A cool S$2.7million. Best of all, the owner nonchalantly let slip that it was just her rental property. If such a property is only her rental property, I can only imagine the grandeur and regalia that is her actual house.
Which leads me to the most epic property I've seen yet: an adjoining penthouse. Note: it is two penthouses combined into one mega house. With each twist and turn through the interiors I had to vehemently stifle the little ohhhs and ahhhs escaping my breath. The master bedroom was extended into another bedroom and a study, and it was fully carpeted. The occupant must sleep like a king at night. The person accompanying me showed me to the attached bathroom. He introduced me to the jacuzzi, which he said was standard issue. I snickered a little. Yeah right.. standard issue. Just how indifferent can the rich be about such extravagant fittings? The ceiling were so high, I tweaked my neck a little looking up. There was also a bar counter fully stocked with expensive whiskey and spirits. The price tag of the property is a staggering amount, which I shan't disclose for fear of making the average Singaporean (me included) feel disenchanted.
Is the report credible? I sure think it is. I no longer find such statistics hard to believe.
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