Thursday, August 15, 2013

Loyang Valley Condominium by SIA

Loyang Valley was developed by SIA in the early 1980s primarily for its staff. The going price then was about $114 per sq ft. Now it is  about $700 per sq ft.
I was one of the staff who bought a 2 bedroom unit. It was about 1485 sq ft and it cost me $169,000.
At first, Loyang Valley was 80% occupied by SIA staff but now I was told a mere 10 to 20% are SIA staff.
My family and I liked the place . However, we sold our unit 10 years later and made a profit of $350,000. The reason we sold the place was due to the lack of amenities and transportation. There was only 1 bus service passing through Loyang Ave. Our children find it troublesome going to schools due to the poor transportation service. One must remember there was no industrial park at that time. Rental was low and prices of the condo did not appreciate as much when compared to other properties.

It is quite strange SIA stopped being a property developer after Loyang Valley. Had it continue in developing properties it would have made more money that its aviation business. But then who could predict SIA would be doing badly in the 21st century.


Anonymous said...

Wow Mr Boh Tong,
congrats on the 350k profit..
i think back then for this sum of money is very big.

5 years flying junior

Sharon Bush said...

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