Construction

I have just moved (temporarily) to a beautiful new apartment in a posh part of Singapore. Weekends are glorious. But weekdays: non-stop 1 million db construction. Throughout working hours, the flat reverberates loudly with the sound of heavy duty drilling, hammering, pile-driving from next door.. They're putting up more condos nearby (and a new MRT I think). I have noticed that almost anywhere you go in Singapore (HDB*, condo, whatever) there will be full-scale or imminent construction nearby**. I even visited the ultra-swanky, family-focused Bukit Timah area, to note that building was underway on almost every corner.

Sinagpore's property prices are sky-high - more than London, and (from what I am told) more than Tokyo. Both renting and buying (if you dare) are hefty undertakings here. There is a lot of cash to be made from property, and huge swathes of the city cater for the ultra-rich.

But what I don't understand is, if one happened to be ultra-rich, why would you buy one of these amazing condos, when there are several miserable years of Towers 2, 3 & 4 going up next door? It's not so delightful being woken by, then listening to this mega-racket all day long; and not everybody works. In fact, observing wealthier groups, the model across races is quite likely to be high ranking working husband / stay-at-home wife with kids. Family life is strongly encouraged over here. But how many wives and babies are going to enjoy this?? And if you are rich, you have choices.

Surely not ALL these apartments are purchased by corporations, or mainland Chinese looking for rent-out investments? Do locals not mind the noise? Are half these condos empty? Or is it simply a question of ubiquity - ie you cannot avoid it, so why bother?

Personally, if I had a few million dollars to blow on Singapore property the first thing I would consider is peace, and the proximity of zero construction! Having said this, the likelihood of actually being in that position is on the wafer-slim-side. ^^

Right, off to do some work wearing earplugs.

One of Singapore's latest swanky condo developments
can't remember its name!

*HDB = public housing. Contrast with condominiums = posh private apartment blocks.

** Both local and immigrant population growths have slowed here over the past three years, but this seems to make no difference!