more singaporeans in australia lately...
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Australia superannuation funds is on track to make -5% return for jan08 due to their sub prime exposure.
I remember some forumers were complaining that Singapore CPF RISK FREE 3.5% ROI is too low and they can make more just by putting money in Australia bank account.
I wonder why australian fund managers didnt consider the idea of simply putting money in the bank.
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Originally posted by TCH05:
I am not sure if flipping burger is something young and educated Singaporeans would want to do for the rest of their live, plus I am not sure if australian government would grant you a PR or citizenship if your intention of moving to australia is to flip burgers?
I am curious why you want to bring up USA and UK as comparison when we are talking about Australia. in fact, USA and UK are pretty bad example if you consider what is going on to their economy right now
The subprime saga that is happening in USA is a good example to show that Americans are mostly living beyond their means (ie, using the house as ATM machine), and UK is also sitting on another subprime bubble waiting to burst, hence I am not surprise to hear "good stories" coming out of these countries.
Dont mind me asking, how long have you been working in Singapore before migrating to australia?
the 19 bucks per hour is higher than my current pay =\ its erm.. 200% i believe.. maybe more.. =\
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Originally posted by Daddy!!:
i bet snakebluff's house does not have floor heating (poor thing) and many insects claw into his house from his garden every day.
If i emigrate to OZ, i would not choose to "downgrade" so much in living standard ie cold feet during winters and fire fighting insects during summers. I will have floor heating high floor condo with 24hrs security.
Over here in Singapore, I earn high interest in Aussie dollars while someone like snakebluff struggles with high mortgage installment. I am indrectly his lender. I win you lose.
If I emigrate to OZ, i am still pro PAP. So what is the big deal?
If I dont emigrate to OZ, I can become anti-PAP. So what is the big deal again?
High mortgages are fun as long as you are not the one who is stuck with it. You wait til the foreign investor buay tahan the mortgage repayments then you move in and make a cutthroat offer with a take it or leave it option.
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Originally posted by fymk:
High mortgages are fun as long as you are not the one who is stuck with it. You wait til the foreign investor buay tahan the mortgage repayments then you move in and make a cutthroat offer with a take it or leave it option.
While you are waiting at the sideline for the them to "buay tahan" may I know where will you be staying? -
Originally posted by shinta:
the 19 bucks per hour is higher than my current pay =\ its erm.. 200% i believe.. maybe more.. =\
I also hv no idea why he rather take the example of Americans who do excessive spending as compared to Asians' culture of a cautious way of spending.
Why not compare with Hong Kong?
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Originally posted by shinta:
the 19 bucks per hour is higher than my current pay =\ its erm.. 200% i believe.. maybe more.. =\
$19 per hour is just a number, you must also take into consider the limited hours you can work, the income tax you have to pay, and the cost of living in the country.
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Originally posted by TCH05:
While you are waiting at the sideline for the them to "buay tahan" may I know where will you be staying?The interest rate won't hit me so hard since my mortgage is only 30% of my property value. My property is in melbourne and I am staying in Brisbane. So go figure.
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Originally posted by fymk:
The interest rate won't hit me so hard since my mortgage is only 30% of my property value. My property is in melbourne and I am staying in Brisbane. So go figure.
heard from the radio that there are 1500 people moving into melbourne every week!
if the australia is so bad, then why are there so many people emigrating to oz? and i saw a couple of PRCs here in brisbane that had stayed in SG for the past 10 years? stepping stone? i wonder.
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Originally posted by fymk:
The interest rate won't hit me so hard since my mortgage is only 30% of my property value. My property is in melbourne and I am staying in Brisbane. So go figure.
It is not about the interest here, it is about buy low sell low, buy high sell high.ie. if there is a property slump in Australia, your existing property value will go down in tandem with the new property you intend to acquire at supposingly "good deal", unless you are buying an investment property or currently renting.
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Originally posted by TCH05:
It is not about the interest here, it is about buy low sell low, buy high sell high.ie. if there is a property slump in Australia, your existing property value will go down in tandem with the new property you intend to acquire at supposingly "good deal", unless you are buying an investment property or currently renting.
Ah I see your problem but you have to see my view - you are probably talking about the suburbs. Mine is smack near the CBD and near the Uni of Melb. The value will go up not down . I don't look at anything else except CBD areas because the flow will always be into the city not out of the city.
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ST dated 5 Mar 08, stated Singapore is rated top among the best locations in the world for Asians to live, while Sydney is 2nd and Melbourne is 3rd.
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Originally posted by fymk:
Ah I see your problem but you have to see my view - you are probably talking about the suburbs. Mine is smack near the CBD and near the Uni of Melb. The value will go up not down . I don't look at anything else except CBD areas because the flow will always be into the city not out of the city.
Are you saying that during a property slump, the value of your properties in CBD or next to Uni will not be affected?
You must be joking right?
Just like what you said about property value will appreciate in tandem with inflation
Is your property build on gold or what?
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Originally posted by TCH05:
Are you saying that during a property slump, the value of your properties in CBD or next to Uni will not be affected?
You must be joking right?
Just like what you said about property value will appreciate in tandem with inflation
Is your property build on gold or what?
The value of the property can be considered in terms of income generating and the appreciative value of the property. If there is a property slump and people cannot afford to buy property - there will be a demand for rentals. When the demand for rental property is higher than the supply - what happens?
Are you having the typical frog croak from the well?
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Originally posted by fymk:
The value of the property can be considered in terms of income generating and the appreciative value of the property. If there is a property slump and people cannot afford to buy property - there will be a demand for rentals. When the demand for rental property is higher than the supply - what happens?
Are you having the typical frog croak from the well?
Fymk : You wait til the foreign investor buay tahan the mortgage repayments then you move in and make a cutthroat offer with a take it or leave it option
TCH : While you are waiting at the sideline for the them to "buay tahan" may I know where will you be staying?
Fymk : The interest rate won't hit me so hard since my mortgage is only 30% of my property value. My property is in melbourne and I am staying in Brisbane. So go figure.
TCH : It is not about the interest here, it is about buy low sell low, buy high sell high.
ie. if there is a property slump in Australia, your existing property value will go down in tandem with the new property you intend to acquire at supposingly "good deal", unless you are buying an investment property or currently renting.
Fymk : Ah I see your problem but you have to see my view - you are probably talking about the suburbs. Mine is smack near the CBD and near the Uni of Melb. The value will go up not down . I don't look at anything else except CBD areas because the flow will always be into the city not out of the city
TCH :Are you saying that during a property slump, the value of your properties in CBD or next to Uni will not be affected?
You must be joking right? Just like what you said about property value will appreciate in tandem with inflation
Is your property build on gold or what? -
Property value will slump but not permanently. Just CBD ones don't slump easily since there is always a demand for it . It is rather obvious that you don't know how it can work out for you financially . So why even bother explaining it to you?
Ai yah ....you think what you like lah . Sometimes that is why I cannot be arsed talking to Singaporeans like your type.
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Originally posted by fymk:
The value of the property can be considered in terms of income generating and the appreciative value of the property. If there is a property slump and people cannot afford to buy property - there will be a demand for rentals. When the demand for rental property is higher than the supply - what happens?
Are you having the typical frog croak from the well?
You can only consider it as an income if your rental minus (interest payment - income taxes related to rental - cost of maintaining your apart) is positive. Or else it will become a negative income.Rental market for property wil always be there regardless if the property is up or down, the only different is the rental yield.
I suggest that you get help in your understand of property investment before calling others a frog in the well.
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Originally posted by fymk:
Property value will slump but not permanently. Just CBD ones don't slump easily since there is always a demand for it . It is rather obvious that you don't know how it can work out for you financially . So why even bother explaining it to you?
Ai yah ....you think what you like lah . Sometimes that is why I cannot be arsed talking to Singaporeans like your type.
Property value will move in cycles, that is a no brainer statement. But to claim that owning a property in CBD is a bullet proof investment, that is total RUBBISH.
Dont mine me asking, do you know how to calculate rental yield?
And if you do, what sort of yield can you get from your CBD property right now?
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Originally posted by TCH05:
You can only consider it as an income if your rental minus (interest payment - income taxes related to rental - cost of maintaining your apart) is positive. Or else it will become a negative income.Rental market for property wil always be there regardless if the property is up or down, the only different is the rental yield.
I suggest that you get help in your understand of property investment before calling others a frog in the well.
LOL whatever.
I am the one with the apartment - not you. Why so defensive?
If I didn't understand , I would not be enjoying myself doing full time study now. HAHAHAHAH
Coming from a guy who thinks the four wives rule is some godly chance of hitting the right soul mate - I am well qualified to call you a frog in a well.
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Originally posted by TCH05:
Property value will move in cycles, that is a no brainer statement. But to claim that owning a property in CBD is a bullet proof investment, that is total RUBBISH.
Dont mine me asking, do you know how to calculate rental yield?
And if you do, what sort of yield can you get from your CBD property right now?
Bullet proof? Don't put it into my mouth hun.
I don't need to prove to you what I say. Hey if you think you know better - good for you.
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Originally posted by fymk:
LOL whatever.
I am the one with the apartment - not you. Why so defensive?
If I didn't understand , I would not be enjoying myself doing full time study now. HAHAHAHAH
Yes, and I believe you are also living in the illusion that what you own is worth more than what it is
Calling me defensive? I think you should read what you wrote and then see if the other way around make more sense.
What I am doing is simply explaning to you some fundamental of property investment and help correct your misconception about property investment and suggesting that you get some help on this area before calling others a frog in the well.
HAHAHAH? Are you laughing or having a cough?
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Originally posted by fymk:
Bullet proof? Don't put it into my mouth hun.
I don't need to prove to you what I say. Hey if you think you know better - good for you.
You claim that there will always be rental demand for property in CBD and around UNI, hence regardless if the property price goes up or down, there will still be income. (Isnt this a bullet proof statement?)
And I am telling you that it can only be income after you deducting your rental with all related cost.
What I am also trying to tell you is that, if you rental yield doesnt offer you more than 8% return, you might as well sell the property and put the money into fixed deposit to collect interest.
btw, do you know how to calculate rental yield?
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From a previous post:
I don't have the statistics for the average distance travelled by an Australian in a month. Maybe you can provide me with the statistics, else we will border to speculation of "my friend drive 5km a day" and "my friend drive 50km a day" issue.
Wait.....
Managed to find statistics for 1996.
Average annual distance travelled by car:
Australia: 14,600 km
Hong Kong: 17,658 km
I used Hong Kong for comparison because it has almost the same urban development as Singapore. Similar public transport infrastructure.
So.............
cars are much cheaper in Australia + the cheaper cost of petrol. There should be lots of cost savings when compared to Singapore.
Say this average Singaporean making SG$11,160 (p.a. after taxes) uses all his income to pay for his PUBLIC Housing (99 year leasehold) 2 bedroom HDB of SG$183,000. At mortgage rate of 2.60% (fixed rate), he would need some 21.65 years to pay off his HDB flat. On top of this loan repayment, this Singaporean would still need to pay Property Tax + SG$110 (TV Licence)every year.
http://www.realestate.com.au/cgi-bin/rsearch?a=o&id=104489212&f=0&p=10&t=res&ty=&fmt=&header=&c=61344252&s=wa&snf=rbs&tm=1198873313
Say if an Australian making AU$26,865 (p.a. after taxes) uses all his income on an equivalent PRIVATE Landed House in Perth for AU$250,000. At a mortgage rate of 8.29% (fixed rate), he would need some 18.53 years to pay off his landed townhouse. An Australian citizen ends up in a 2 storey landed property with less than the number of years repayment, as compared to a Singaporean citizen buying a 2 bedroom HDB flat (99 year leasehold).
Present Amount of Ordinary Annuity Calculator.
!!! Remember this fundamental issue, the salary of workers in Australia (without exchange rate differential) is 3 times that of Singaporean workers !!!
Australian Wages
Bartending/waiting tables: $15 - $25 per hour (casual)
Chef: $700 - $800 per week (full time)
Retail sales assistant: $15 - $25 per hour (casual)
Check out operators and cashiers: $500 - $700 per week (full time)
Building/labouring: $650 - $850 per week (full time)
Engineering: $800 - $1500 per week (full time)
Hairdressing: $530 - $650 per week (full time)
Secretarial/administration: $600 - $700 per week (full time)
Child care: $18 - $20 per hour (casual) -
So high pay, they are really first world country, whereas Singapore claimed to be 1st world, but the pay lags behind 1st world's pay except ministerial pay
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Originally posted by TCH05:
You claim that there will always be rental demand for property in CBD and around UNI, hence regardless if the property price goes up or down, there will still be income. (Isnt this a bullet proof statement?)
And I am telling you that it can only be income after you deducting your rental with all related cost.
What I am also trying to tell you is that, if you rental yield doesnt offer you more than 8% return, you might as well sell the property and put the money into fixed deposit to collect interest.
btw, do you know how to calculate rental yield?
In Spore, a flat belonged to the govt no matter when people paid for it, if need to rent out need to inform govt compared to neighbouring Indonesia or Malaysia. Coming back to the people migrating to other countries, there is an article last Sunday about people citing stress of living in Spore n the expensive pigeon hole. -
Originally posted by TCH05:
Yes, and I believe you are also living in the illusion that what you own is worth more than what it is
Calling me defensive? I think you should read what you wrote and then see if the other way around make more sense.
What I am doing is simply explaning to you some fundamental of property investment and help correct your misconception about property investment and suggesting that you get some help on this area before calling others a frog in the well.
HAHAHAH? Are you laughing or having a cough?
You are telling someone who already has a property there. Any misconceptions would have appeared by now. Period.