Saturday, June 30, 2012

Overpriced Stuff in S'pore

Not an exhaustive list. Yahoo Finance SG published 7 Overpriced Products in S'pore as follows:
  1. Brand Name HDMI Cables
  2. iPhone Cases / Covers
  3. Branded Bottled Water
  4. Pre-Cut Vegetables & Fruits
  5. Printer Ink
  6. Wine in Restaurants
  7. Designer Furniture
Additions by netizens:
  • Housing (emptying one's retirement $)
  • Public Transport (paying to stand)
  • Cars
  • COEs (even more congestion)
  • Food at Food Courts
  • Medical
  • Spectacles
  • Tertiary Tuition Fees
  • Overpriced Govt (Fat paychecks delivering lousy performance)
"From a biz owner's point of view, there's a limit how low costs can go, a limit how much people will pay for stuff, but there's no limit to rising rentals."
I still consider SG REITS to be a risky investment. Evidence of cracks in dam is mounting.

Killer rent which is related to land/property costs is a killer to S'pore businesses & ultimately S'pore competitiveness. It was announced 2 weeks ago that industrial land tenure would be cut to 30years to help lower cost. It is just a tempoary measure to plug the cracks in the dam by the greedy govt landlord. Already disadvantaged with burden of killer rent, businesses don't have much $$ to spare for R&D, upgrades thus eventually losing out to foreign competition - marvel at what happened to outdated japanese planes in Marianas Turkey Shoot.

Desperate measure by flooding in cheaper foreign workers(also serve as consumers) to contain cost caused by govt's bloodsucking rents has led to a plethora of social & livelihood problems for much of the populace.

Money-wise folks would get better value by buying online. Why throw away one's life in working hours paying for killer rent? Even the expensive Brompton bicycles have money-wise folks fly to HK to buy even with budget air tickets, accomodation & eat in short getaway - better value.

S'pore once hailed as shoppers paradise is going down the pits in terms of retail with much thanks to killer rent & online stores.

Citizens in other countries can relocate to elsewhere in their country for lower-cost of living. In tiny S'pore the solution of relocation within the tiny island for lower cost living is not an option.

2 comments:

  1. Yup, Singapore is more expensive than Toronto and Vancouver, Canada. Way more expensive, according to Mercer's report.
    http://winkingdoll.blogspot.ca/2012/06/singapore-is-more-expensive-than-canada.html

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