Needless to say, there's people who are stuck with many 'lots'.
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Some investors trading in niches earn up to $3,000 a unit
http://business.asiaone.com/Business/My ... 74732.html
HERE in land-scarce Singapore, every piece of real estate is a potential money-spinner - even those meant for the dead.
Some columbarium niches - hardly what one would consider an asset class - have appreciated in value for those with the foresight to book one in advance.
At Nirvana Memorial Garden, a columbarium at Old Choa Chu Kang Road, about 300 customers have bought niches for investment, reported Channel NewsAsia earlier this month.
Nirvana, which touts itself as Asia's only six-star columbarium, started selling niches at prices from $2,988 for a single-urn niche to $26,888 for a double-urn niche in 2009.
Niches are still available at these prices, but some of the more choice units, located next to the main temple hall called the "royal suite", have seen a price rise.
Launched last year at $15,000 each, a single-urn niche in the royal suite now costs about $18,000, said Nirvana's general manager, Mr Raymond Chiang.
Its marketing and PR manager, Ms Jessie Ong, said this is because of limited supply.
"Most of the niches in good locations, such as those at eye level, are already taken up," she said.
A double-urn niche, which cost $26,000 last year, now costs $29,000, said Nirvana.
As a comparison, niches at government-run columbariums in areas such as Choa Chu Kang, Mandai and Yishun range from $500 for a single-urn space to $900 for a two-person niche.
