Announcement

Collapse
No announcement yet.

RE Discussions for Singapore Based NRIs

Collapse
X
Collapse

RE Discussions for Singapore Based NRIs

Last updated: August 26 2021
291 | Posts
  • Time
  • Show
Clear All
new posts
  • #81

    #81

    Re : RE Discussions for Singapore Based NRIs

    In my case my job is not very stable so my one leg is always in India. The fact that INR is appreciating has made my decision very easy to keep moving money to India. The last thing I want is having a few 100ks of SGD and forced to convert them when I am going back to India, the rate may not be good, I lose on interest rate gains too and finally I might also have issues with tax authorities in India to convince them that all that amount I bring to India I don't need to pay tax. You know in a year if you are more than 186 days in India then your foreign income also gets taxed in India, so if I am relocating in Apr - Sep of any financial year, it will be a problem.

    Comment

    • #82

      #82

      Re : RE Discussions for Singapore Based NRIs

      Click image for larger version

Name:	uploadfromtaptalk1439373954317.jpg
Views:	1
Size:	63.5 KB
ID:	2262727

      Investment Outlook and asset allocation strategy for Q3_2015 from DBS

      Comment

      • #83

        #83

        Re : RE Discussions for Singapore Based NRIs

        Originally posted by Magadh_Pride View Post
        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.
        Your decision to convert to USD looks very smart and timely, now

        Comment

        • #84

          #84

          Re : RE Discussions for Singapore Based NRIs

          Originally posted by revhappy View Post
          Your decision to convert to USD looks very smart and timely, now
          It was projected to hit 1.4 by June. Now the target is 1.45. Better returns than FD

          I am thinking to move some funds to GBP as well to hedge.

          Comment

          • #85

            #85

            Re : RE Discussions for Singapore Based NRIs

            Effects of China's Devaluation on Singapore’s Financial Markets

            n August 11, China’s central bank (PBOC) lifted the central USD/CNY parity to 6.2298 (from 6.1162) and devalued the official exchange rate by 1.82%. More gradual depreciations followed the week after, bringing the yuan’s total fall to about 3% against the US dollar. The move spooked markets across Asia and raised concerns in Singapore, where the economy has been faced with poor growth in the second quarter. Singapore’s GDP fell by 4% (on-quarter, seasonally adjusted rate) in the second quarter of 2015, wiping out the 4% gains made in the first quarter. The main worry today is that the yuan devaluation might tip the economy closer toward a technical recession (two consecutive quarters of negative growth).

            The devaluation had an immediate ripple effect on Singapore’s financial markets: the Strait Times Index (STI) fell by about 4% in the course of a few days following the PBOC move, the Singapore dollar correspondingly depreciated by about 2% against the US dollar, and the SIBOR and SOR were up by 6.7% and 17% respectively. The yuan devaluation also raised questions for policymakers. The MAS has maintained a modest appreciation of the SGD NEER policy stance. According to DBS SGD NEER model, the SGD NEER is easing towards the floor of its appreciating policy band amid heightened market volatility. If this continues, the MAS would have two choices: spend reserves defending the band or relax the appreciation policy.

            With an economy facing the risk of a technical recession and full-year inflation expected to be negative, currency appreciation becomes a difficult policy to maintain. Challenges are compounded by potential capital flight that could result from higher US interest rates and/or fears of further yuan devaluation. All things considered, risks are rising that the MAS eases policy in October.


            To read the full report, download the PDF.
            Effects of China's Devaluation on Singapore

            Comment

            • #86

              #86

              Re : RE Discussions for Singapore Based NRIs

              In Singapore, a Price Drop Will Help Reverse Property Curbs More Than an Election - Bloomberg Business

              For those holding out for a roll back of property curbs after an election victory by Singapore’s ruling party, the wait may be longer than anticipated.
              The People’s Action Party’s emphatic win at Friday’s polls won’t be enough to reverse measures put in place as far back as 2009. The pace of decline in the city’s home prices needs to double the 6.7 percent drop from the peak two years ago before any of the restrictions will be eased, according to Chestertons Singapore and RHB Research Institute Singapore Pte.
              “The winning of a larger-than-expected margin will not be the main catalyst,” said Donald Han, Singapore-based managing director at real estate broker Chestertons. “When property prices drop by 15 percent from the peak, that will probably instigate the government to roll back certain measures, not a complete removal of any of them.”
              Prime Minister Lee Hsien Loong’s party extended its more than five decades of rule after gaining almost 10 percentage points from the 2011 polls with a 69.9 percent victory margin. Earlier speculation the government may ease some of its curbs after being voted back to power is now dissipating.
              No Easing
              “Despite expectations building up for more pro-growth policies, we do not think any easing, particularly in property, will be done this year,” Ong Kian Lin, a property analyst at RHB, said in a note to clients. “There may also be push-back from the populace if asset prices spike right after elections.”
              Lee’s government introduced a slew of measures aimed at cooling a property market that hit a record high in the third quarter of 2013 after rising living costs contributed to his party’s worst election four years ago. The restrictions included a cap on debt repayment costs at 60 percent of a borrower’s monthly income and higher stamp duties on home purchases.
              Residential prices need to fall as much as 15 percent before any measures are reversed, Ong said. A data-dependent and gradual approach toward loosening the curbs would make more sense for the new cabinet, the analyst said, starting with the additional stamp duties as prices fall.
              Hungry Ghost Month
              Singapore’s home prices dropped for a seventh consecutive quarter at the end of June, the longest losing streak in 13 years. Sales fell in August as developers marketed fewer projects in the inauspicious "Hungry Ghost" month of the lunar calendar. Developers sold 495 units last month -- less than a third of the 1,611 homes in July, according to data released Tuesday by the Urban Redevelopment Authority.
              “Post-election sentiment is not a major factor in shifting demand patterns," Desmond Sim, head of research for Singapore and Southeast Asia at CBRE Group Inc. "The prospect of a rise in interest rates will in fact play a bigger role. It will be some time before any decision is made on the lifting of cooling measures.”
              For Vishnu Varathan, a Singapore-based economist at Mizuho Bank Ltd., the slump in China’s stock market and prospects of higher interest rates may give the government the impetus to tweak some property measures after the elections. The three-month Singapore interbank offered rate, which is used as a benchmark for mortgage rates, has more than doubled in a year to the highest since 2008.
              China’s Wobbles
              “The incentive to react has just gone up given the magnitude of China’s wobbles,” Varathan said. “Measures came in when there was a very bullish China property market. So post election, we may see some of the measures rolling off.”
              Others such as Citigroup Inc. and Goldman Sachs Group Inc. say any easing of housing measures will depend more on further price declines rather than the election win. Goldman Sachs expects the policy on reining in prices to continue with some adjustments made after "moderations" in housing values.
              A property price decline of as much as 10 percent and an increase in mortgage rates above the historical average of 3.5 percent would be needed to trigger any easing of the property measures, Citigroup economist Kit Wei Zheng said in a research note.
              “While the government had sought to de-link any correlation with elections, policymakers will be less politically constrained in relaxing property cooling measures once housing affordability is deemed to have been restored, and mortgage rates move closer to historical mean, which suggests that any immediate post-election relaxation remains unlikely,” Kit said.

              Comment

              • #87

                #87

                Re : RE Discussions for Singapore Based NRIs

                The elections results feel good was short lived. SGD back to 1.428

                Comment

                • #88

                  #88

                  Re : RE Discussions for Singapore Based NRIs

                  Originally posted by revhappy View Post
                  The elections results feel good was short lived. SGD back to 1.428
                  Something is changing again.. Was 1.415 today

                  XE.com - USD/SGD Chart

                  Comment

                  • #89

                    #89

                    Re : RE Discussions for Singapore Based NRIs

                    Originally posted by Magadh_Pride View Post
                    Something is changing again.. Was 1.415 today

                    XE.com - USD/SGD Chart
                    May be MAS is intervening to prevent sharp slide in SGD.

                    But the expectation is clearly that MAS will ease policy:

                    Economists expect MAS to ease monetary policy - Channel NewsAsia

                    SGD should be sold at every rise.

                    Comment

                    • #90

                      #90

                      Re : RE Discussions for Singapore Based NRIs

                      It

                      Comment

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