RiskArb at RE Talks 28 Nov 2010 8:03am – “Realtor from Singapore woke me up this morning to present an offer from a mainland Chinese buyer for my condo.
If I sell, it would be the highest price so far obtained in the development. And mainland money is new to this part of town (East Coast SIngapore) as they’ve typically only played in the ultra high-end (Orchard Road and Marina Bay).
At the same time, I read in the Globe and Mail ROB an article about Vancouver real-estate and how the majority of purchases on the westside are from mainlanders. … The trend should have slapped you in the face by now.”
Update one month later:
RiskArb at RE Talks 27 Dec 2010 10:30pm – “Update. I turned down the above offer……..and last week I got another offer that’s 3% higher. Malaysian Chinese buyer. I could probably hold out for another 10-20% easily over a year (still very cash flow positive at this price)….. but decided to take it.”