Last Sunday while collecting mail at my tenanted apartment, I figured since it was lunch time I might as well make my way to the Lavender food court for a change since my favorite Killiney kopitiam opposite my apartment is no longer in business. There, I ordered duck rice, and noticed the (famous) wanton mee store has nobody in the queue. I thought it was not open yet. Then at 12:03pm, a queue started to form and in 5 minutes it has grown from 5 people to like 15-20 people.
Locals will know this is typical of Singapore and Singaporeans. I have ever even been in a queue and someone join it behind me asking me what I'm queueing for after others have joined in behind him. And therefore the perfect display of 'herd mentality' which stems from the Singaporean essential attribute of 'kiasu' (afraid to lose out).
Look at the recent launches since Alexis / Caspian, and you will notice almost every project SOLD OUT in days if not hours. Optima even had queues form before the showflat is officially open. Can you imagine this madness - in a recession? Or are we already so sure prices are only going to go up with the impending completion of IR. Soon, 600psf in Bedok new launches will be a thing of the past - if not already - when Optima in Tanah Merah has seen prices of 900psf-1000psf. AMK had launched at 1200psf. Balestier is being launched for 1400psf as we speak. Soon, nothing will be below 1000psf.
Sure, one can say, the mata (policemen) also had to start wearing pants instead of shorts as Singapore progresses through the decades, so why not property prices? I'm just wondering whether this pace is too fast. Anyway, I'm not fast to complain, considering this market upswing helped me to 'get rid' of my odd shaped apartment at a very decent price - enough to buy 2 new better and regular-shaped ones.
Heck, for every willing buyer, there is a willing seller. Same goes for wanton mee even if the price is $5 - when everyone seems to be just queueing (or killing) for it.
