[Neoxenon]

The economic recession is here again after a cycle of incredibly high property prices, and it is time for me to go shopping for bargains in the high-end property segments. For the longest time, I have watched greed drive middle-income people, who can afford a mid-range condominium, go out on a limb and risk purchasing high-end apartments hoping to turn them around before TOP to make a quick buck. The economics just could not sustain so much speculation, and it wasn’t long before the bubble burst and prices came crashing down.

These speculators were all caught with their pants down, and they are now so desperate to sell their apartments before TOP to avoid the huge first installment under the deferred payment scheme. Perfect opportunity for investment sharks like me, to swoop in and enter the market at a good price, given that the whole market is so desperate to sell their units. Little did the sellers know, that other than a bargain-basement price, they had to throw in a little more sweeteners for me to bite. My name is Derrick, and I am a full-time property and shares investor, and this is my story…

I have been marking out various key districts that I know people have over committed in their purchases, including several Marina Bay projects. The newspaper and Internet was rife with advertisements from owners selling their “investments”, and I was cherry picking. All were asking for incredibly ridiculous and unrealistic pricing given the current economic situation, and I laughed off their offers. I could sense desperation in the tones of some of them, and those are the ones I swooped in on.

“I don’t think $1300psf is a realistic price, Cheryl” I said over the phone, “there are people selling for $1000psf already.”

“I know. But my unit is on the high-floors and facing the Marina Bay area, which is definitely worth the premium!” the sweet sounding voice of Cheryl had underlying tones of stress which I detected.

“I don’t know. I don’t care about the view at all… I only want the best price per square feet for renting out the unit,” as I tried to sound nonchalant.

“Why don’t you come down and take a look first? I am sure you will change your mind after seeing the great view and furnishing,” Cheryl pleaded.

I knew she was the kind of desperate seller I was looking for. “Alright then. I don’t think that will make any difference, but I hope I am not wasting my time. I have a lot of other units to view you know!”

“Don’t worry, Derrick. I will definitely make it a worthwhile trip for you!” she said before we hung up. I was sure she didn't know how much her words would mean. The investor shark in me is going to eat her alive for breakfast, lunch and dinner…