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RE Discussions for Singapore Based NRIs

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RE Discussions for Singapore Based NRIs

Last updated: 4 weeks ago
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  • #71

    #71

    Re : RE Discussions for Singapore Based NRIs

    All indications are for Singapore becoming similar to Dubai. Come for short term- earn high salary at low taxes- and be ready to leave. Do not expect residency and long term settlement - unless you can convince the ICA that you have niche specialised skills that will benefit Singapore.

    With the place becoming ever so expensive, good quality of life can only be afforded if you can negotiate a high salary.

    Longer term, Migration to ANZ, Canada or the UK is anyday a better option. In fact majority of the locals here are ready to take the first flight out of they can get a break...
    Last edited May 29 2015, 04:15 PM.

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    • #72

      #72

      Re : RE Discussions for Singapore Based NRIs

      Indian executives now getting equally good opportunities in India as Singapore, Malaysia and Sri Lanka - The Economic Times

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      • #73

        #73

        Re : RE Discussions for Singapore Based NRIs

        Private property prices may fall another 10% in next two years: report, Real Estate - THE BUSINESS TIMES

        PRIVATE property prices in Singapore could fall a further 10 per cent from current levels over the next two years, said BNP Paribas in a research report on Monday.

        "Our central case is for a relatively orderly unwind. Maintenance of 5 per cent per annum household income growth and a two-year period of correction (based on previous property cycles) means that prices need to fall by 10 per cent over the coming two years to lower the price-to-income ratio to 8.5 times.

        "Such a decline will push up loan-to-value ratios and force households to inject fresh capital into their mortgages when they attempt to refinance, further constraining private consumption in the coming years," said BNP Paribas, adding that tighter immigration policies have had a "detrimental impact" on demand for housing.

        At the same time, however, Nomura believes that in 2016, Singaporean tenants could turn buyers, and landlords could be motivated to sell - possibly resulting in higher resale transactions as well as demand for completed units in developers' inventory.

        On the buyers' side of things, Nomura notes that monthly cash outlays could be lower than monthly rent payments in 2016. This is because the Central Provident Fund (CPF) Ordinary Account contribution for Singapore workers will be higher, and can be used to service mortgages.

        Sellers, on the other hand, are likely to be motivated by a combination of rental declines, higher mortgage rates and higher property tax.

        "If our thesis is proven correct, we believe there could be a robust rebound in resale transaction volume in 2016 (forecast)," said Nomura, adding that CapitaLand could benefit the most from higher demand for developers' completed but unsold inventory.

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        • #74

          #74

          Re : RE Discussions for Singapore Based NRIs

          Singapores another intermeeting easing likely before October - EconoTimes

          MAS could do another surprise easing. I think the current level of 1.35 is too good to last. I am converting all my SGD to INR.

          INR itself will also depreciate but the expectation is 65 by year end.

          Indian Rupee : 2H15 Outlook - Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) | Seeking Alpha

          So net net SGDINR pair shouldn't move much. But the opportunity to earn 8.25% NRE FD rates will be lost if you keep your money in SGD.

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          • #75

            #75

            Re : RE Discussions for Singapore Based NRIs

            I was right, 1.35 was too good to last for the SGD . SGD is falling again, while INR is strong. Clearly lower oil prices have opposite effects on the SGD and INR. Also China slowdown and Malaysia's problems will affect Singapore's downturn even more, as both are its biggest trading partners. SGD is a big sell.

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            • #76

              #76

              Re : RE Discussions for Singapore Based NRIs

              MYR and IDR are the two worst faring currencies. But INR is holding... in fact become stronger against SGD while weak against USD.

              I bought USD recently even upto 1.38 last week. Better to convert holdings to USD it seems if have to keep in SG.

              Wonder if there is a cheap way to remit from USD to INR directly if i convert to USD.
              Last edited August 7 2015, 10:48 PM.

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              • #77

                #77

                Re : RE Discussions for Singapore Based NRIs

                The cheapest way is to go and get in cash from moneychanger at the arcade in raffles place. The spreads are very thin compared to banks.


                http://arcademoneychangers.com.sg/ratesbiglogo.asp

                I had once converted some 500k HKD to SGD and they gave me at the spot rate, without commission.



                So you can convert the USD to sgd at near spot rate if you do in cash and then remit to India through normal channels.

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                • #78

                  #78

                  Re : RE Discussions for Singapore Based NRIs

                  Originally posted by revhappy View Post
                  If you have the option of relocating to NZ, then go there. Atleast get a PR there and go and stay for the minimum period required to keep your PR and then come back to India so that you can take care of your parents.

                  Singapore is good for short term, but difficult to get residency and settledown here. Its only good as long as you have a job.

                  if you are in NZ and have indefinite PR then you can apply PR for parents if you earn more than 80-90k per annum in category 1 which most of indians do as they are in IT.

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                  • #79

                    #79

                    Re : RE Discussions for Singapore Based NRIs

                    Originally posted by Magadh_Pride View Post
                    MYR and IDR are the two worst faring currencies. But INR is holding... in fact become stronger against SGD while weak against USD.

                    I bought USD recently even upto 1.38 last week. Better to convert holdings to USD it seems if have to keep in SG.

                    Wonder if there is a cheap way to remit from USD to INR directly if i convert to USD.


                    Btw, how did you convert to USD? Did you open a multicurrency account with a bank and then use their online service to convert? Also what do you plan to do with the USD, just leave it lying there? You can invest in mutual funds through fundsupermart in USD.

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                    • #80

                      #80

                      Re : RE Discussions for Singapore Based NRIs

                      I did both online conversion via DBS and also via Money changers as they offer a few points better rates.

                      I normally deposit it back in the MC account and asset allocation in MF or FD ... both yielded better than SGD.

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