Announcement

Collapse
No announcement yet.

RE Discussions for Singapore Based NRIs

Collapse
X
Collapse

RE Discussions for Singapore Based NRIs

Last updated: 3 days ago
288 | Posts
  • Time
  • Show
Clear All
new posts

  • Re : RE Discussions for Singapore Based NRIs

    I think SGD has risen against USD inline with most other currencies. If you notice CAD, AUD, JPY, EUR and GBP all have risen against USD

    However INR has not risen, I think this is because RBI was selling dollars in Jan to arrest Rupee slide and now they are buying the dollars back so that rupee doesn't rise and exports become competitive.
    Last edited February 6 2016, 12:25 PM.

    Comment


    • Re : RE Discussions for Singapore Based NRIs

      Any NRIs who have made investment in plots in Unitech GreenWoods City, Sec 45/46 Gurgaon. How has the experience been in terms of appreciation.

      Comment


      • Re : RE Discussions for Singapore Based NRIs

        Hi,

        Nowadays lot of news about job losses in Singapore. Especially in Finance industry.

        Not sure what exactly is happening. Oil industry and shipping industry has definitely facing challenges.

        Rents have come down significantly. Singapore is in deflationary situation like most of the countries.
        .
        Any thoughts on where will be SGD again USD in coming months? with or without CNY devaluation.

        DBS has posted excellent results yesterday. NPAs are contained as of now.
        Last edited February 23 2016, 09:33 PM. Reason: Text formatting.

        Comment


        • Re : RE Discussions for Singapore Based NRIs

          Originally posted by arvindabhay View Post
          Hi,

          Nowadays lot of news about job losses in Singapore. Especially in Finance industry.

          Not sure what exactly is happening. Oil industry and shipping industry has definitely facing challenges.

          Rents have come down significantly. Singapore is in deflationary situation like most of the countries.
          .
          Any thoughts on where will be SGD again USD in coming months? with or without CNY devaluation.

          DBS has posted excellent results yesterday. NPAs are contained as of now.

          I think the easy run of cheap mOney driven RE boom, and FT driven high rentals is over. I read that 2016 could be start of a long 7-10 years economic winter in SG.

          There is an interesting thread on the SG expat forum called " Everyone I know has either left or is leaving"

          Comment


          • Re : RE Discussions for Singapore Based NRIs

            After having transferred money regularly to India for the last few years, I am considering accumulating money in SG this year. So starting 2016 Jan, I have not transferred money to India. The last time I hoarded money in SGD was in 2012 and 2013, I had accumulated about 120K SGD

            Lets see how it goes, just a small experiment I will just keep it in my OCBC 360 account which earns 2% interest per annum, with salary credit and paying 3 bills online.

            Comment


            • Re : RE Discussions for Singapore Based NRIs

              Originally posted by revhappy View Post
              After having transferred money regularly to India for the last few years, I am considering accumulating money in SG this year. So starting 2016 Jan, I have not transferred money to India. The last time I hoarded money in SGD was in 2012 and 2013, I had accumulated about 120K SGD

              Lets see how it goes, just a small experiment I will just keep it in my OCBC 360 account which earns 2% interest per annum, with salary credit and paying 3 bills online.
              Interesting point, and I'd like to understand your reasons.

              I am actually doing exactly the opposite. After accumulating almost all my savings here for last several years, I have over the last 3 months, emptied my SGD accounts. My reasons:

              1. Good rate of SGD/INR over 48 after almost 2 years.
              2. Slowdown expected in SG economy; Impact from China and tightening of screws from US on dirty money.
              3. REITS returns dwindling.
              4. PR rejected in December and looking at the scenarios, pretty much not optimistic for future approval also


              Overall, no reason to keep my money at 0% and pay 10% to HDFC for my mortgate, I'd rather pre-pay and close my loans!

              Comment


              • Re : RE Discussions for Singapore Based NRIs

                Clearly, the tide is turning. I am actually surprised how SG managed to stay under the radar for so long. May be because, most of the laundry was from within the region, and now the net has widened further to the US.


                -------------------------------------------------------------------------------
                Is Singapore up next in a U.S. tax crackdown? | The Salt Lake Tribune

                Is Singapore up next in a U.S. tax crackdown?

                Comment


                • Re : RE Discussions for Singapore Based NRIs

                  My current company has a pension plan similar to CPF, $800 gets cut from my salary and they pay me $800. So now my take home is a bit lower. I will probably save around 3 to 3.5k a month so by the end of the year I will have accumulated around 30-35k SGD which is not a lot. So just trying it out for fun. I have currently accumulated 12K SGD. I will take a call once I have some 25k accumulated, which will take another 3-4 months. Earlier I used to transfer every time I accumulate 10k SGD and book NRE FD for 5L INR.
                  Last edited March 7 2016, 01:12 PM.

                  Comment


                  • Re : RE Discussions for Singapore Based NRIs

                    So Magadh_Pride; , I thought you were keeping your money in Singapore to help your PR application. Did you already apply PR or don't care anymore?
                    Last edited March 7 2016, 01:16 PM. Reason: tagged user

                    Comment


                    • Re : RE Discussions for Singapore Based NRIs

                      Originally posted by revhappy View Post
                      So Magadh_Pride; , I thought you were keeping your money in Singapore to help your PR application. Did you already apply PR or don't care anymore?
                      Originally posted by Magadh_Pride View Post
                      4. PR rejected in December and looking at the scenarios, pretty much not optimistic for future approval also
                      Yes, I was hoarding SGD for last several years. Paying 10% to HDFC, while my own money sat in Singapore in hope of a PR!

                      Lost enough in terms of financial and opportunity cost; So i have decided to pull the plug and dont want to prolong the situation. In fact I even took a 40k balance transfer and have remitted it all to pay off my mortgage!

                      I only plan to hold small SGD and USD in SG now!

                      Comment

                      Have any questions or thoughts about this?
                      Working...
                      X