I got here the other day and I have not had much time to think about anything aside from work. I was staying in a hotel, but I decided that I should buy a place because I am likely to be her for a year and a half at the least. It seems as though they do not really sell you a condo here however, I went to see some seaside residences in Siglap district and I got to talk to this really nice girl about it. She spoke perfect English, although in the local way. It is different from the way that Americans speak it, just like in the U.S you have a lot of regional dialects. At any rate she says that the tenure is 99 years, which I did not understand until she explained it. Obviously I am probably not going to need the place for that long. I am going to be gone back to home long before that, but it is obvious that I would not own the place.
The objective is just to be able to get back the money that I put in it. A year and a half of rent is a lot of money, which I would like to recoup if I am able to do it. That is only the logical way to think about it and I do not suppose that this really changes it, except that if you do not own the place that changes the value for resale. Every year less on this tenure is going to be important. Of course in Singapore they are constantly tearing down older buildings so that they build bigger and taller. There is not any more land and so they can only make more real estate by going upwards all of the time.