spanking new hdb flat at $880,000.00?

when i read this piece of news, my first thought was, u gotta be kidding me, right? but no, that's exactly right!

because the prices of the latest flats, centrale 8, released under the hdb's (dbss) or design, build and sell scheme in a central location within a mature estate and in this case, in tampines ranges from $397,000.00 (for a 3 room flat) to the top price of $880,000.00 for a 5 bedroom unit.

for the same price or $750.00 per square ft, the buyer can also consider getting a private property in pasir ris or flora road where the properties are going for approximately $750.00 to $800.00 per square ft.

my comments:

i remember being offered a 4 room hdb flat at bedok in the early 70s at a mere $19,500.00 only.

fast forward to present day, a 4 room flat at centrale 8 going for $531,000.00 to $683,000.00. despite the seriously hefty price tag, i suspect there will still be a beeline to buy the latest hdb dbss units at tampines.

but what i cannot entirely comprehend is; consumers are more than willing to bust their bank to own a piece of property but when it comes to taking up insurance, the 'premium payable' is always too high.

and my point is; isn't any single human life priceless if we compare this to any tangible object, be it property or anything else?

but there is another side of the coin in terms of the choice for the premium payment mode because there are still far too many consumers going the route of taking the monthly premium mode.

this is perhaps the most punitive premium payment mode because there is a hefty penalty of up to 5% more than the annual premium payment mode.

this is not unlike getting a guaranteed 5% yearly return if the consumer has not opted to pay by the monthly premium mode.

is this surprising to me?

to be honest, no, because some of the propects/referrals/clientele i meet in the course of my business is not even aware of this 'penalty'.

readers can do me a favour and disseminate this fact to everyone they know so that many others can now opt to pay premiums by the annual mode.