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11/05/2009
More good news and good statistics
Foreigners are snapping up private properties in greater numbers. The numbers given in the ST shows that from 2007 to 2009, foreigners have bought about 20,000 units of properties here. If we are to extrapolate backwards, foreigners could have bought a few hundred thousands of private properties here.
The good news is that more are coming in and buying. Another report says that Singapore is a choiced city for immigrants and there are enough in the waiting list to bring our population to 13m. This could easily triple or quadruple the prices of properties here, including those of public flats.
The future of Singaporeans is so rosy. Wait for the 3rm flats to hit $1m and 4rm to hit $1.5m, and the bigger units in the $2m and more. Then Singaporeans can all sell out, move off to Lijiang or Chennai, or JB and Batam, build their own palaces and live there happily thereafter.
Strange stat..."Singapore emerged tops with the highest PNMI value of 260 per cent, followed by Saudi Arabia (180 per cent), New Zealand (175 per cent), Canada (170 per cent) and Australia (145 per cent)"
ReplyDeletePNMI: Potential Net Migration Index.
Ya. Very soon the entire nation can be sold and and the country name be changed the major stake holders.
ReplyDeleteWTF is this PNMI anyway.
ReplyDeleteI may understand the high score for New Zealand, Canada and Australia but Saudi Arabia coming in second? And Singapore coming in first? Maybe they like the hot, humid and suffocating weather here!
Yeah, those freaking duffers can go keep the camels company.
Someone should tell the goondus that only the sheiks live a good life there!
Hehe. Statistics. Tell it to the marines.
Singaporeans are so lucky to be in a choice country that everybody wants to migrate to. There must be something good about this land to make it so attractive. Why are Singaporeans so unhappy about this? Do not be so selfish, if you have something good you must learn to share. Your govt is opening the doors to attract more immigrants so these new citizens will be able to support you in your old age. That can only be a good thing, isn't it? The trouble with Singaporeans is you have been so mollycoddled and never experienced any hardship that you feel threatened by the lean and mean newcomers, and knowing that when it comes to competition with these people you wouldn't stand a chance. Feeling threatened and insecure does not give you any rights to close the door to the newcomers. Your govt says that you must be more welcoming. At the end of the day, the survival of Singapore in years to come will depend on those Singaporens who are able to adjust and be competetive and these newcomers who are willing to strive hard and make a good life for themselves and their families. All I can say is, either buck up or move out. Cannot stand the heat, then stay out of the kitchen.
ReplyDeleteIf they make my HDB Flat worth 2two million SGD Dollars before the Next Election , i will persuade my family members and associates to vote for them another term.
ReplyDeleteI promise!
patriot
i too will vote for the PAP if i can sell my hdb flat for $2m. then i will join wally in lijiang and never look back.
ReplyDeletebut the statistics cannot lie. only the details maybe a little fuzzy.
let me guess, 5m chinese wanting to come here to be hawkers or foodstall operators and caregivers to the uncles in the void decks. then another 5m indians coming as construction workers, and another few millions from neighbouring countries wanting to come here as maids.
and from reading yesterday's news, many are transferring their illegitimate money here to buy properties. that will make patriot happy i am sure.
wally, you sold your flat too early man.
HeHe.
ReplyDeleteRedbean,
Dream On. I would have sold the 3 room pidgin hole for $270K. Instead I got $350K and exchanged it for a Banyan Tree resort like home in Lijiang. I've never looked back.
When there's plenty of credit (fake) money sloshing around the globe, it has got to "come to rest" (buy something) somewhere.
ReplyDeleteSingapore and HK rank in the top 2 spots in The World Economic Freedom Index put out every year by The CATO Institute and The Heritage Foundation.
We live in uncertain times — as far as free market capitalism goes. S'pore has demonstrated itself to be a good "haven" for stashing money which other greedy govts want to steal in order to fund their bailout policies, so you can't blame the rich folks from "parking" their money in something which looks like a "safe bet" — Singapore real estate.
Don't blame the buyers lah. If you really need to ascribe "blame" then blame the sellers because without the seller there is no market transaction.
Frankly I don't see the problem: if you don't want foreigners buying up real estate DON'T SELL YOUR PROPERTY.
OTOH if you like to realize a good gain, take the money and emigrate or blow it on sex, gambling and drugs — that is entirely up to you. The govt or blog commentators have no stake in your life or your property.
Being wealthy will always attract scorn and envy. But the unalterable truth is this: the envious spend all their time and effort criticising the wealthy where in my opinion it would be far more rational to shut up and become rich too instead of complaining about "inequality".
The best way to help the poor is to first not be poor yourself.
matilah, singapore where got poor people? even someone who owns a 3rm flat is worth at least $300k, plus CPF, Medisave, minimum sum, that will be easily $400-500k.
ReplyDeletewhat poor? this is the poor or the lower rung of the population.
First world country for foreigners, third world country for local Singaporeans, except those living in ivory towers.
ReplyDeleteGood news for foreigners means bad news for the locals.
Oops sorry redbean. You're absolutely right. Been listening too much to the SDP kpkb ;-)
ReplyDeletehi Statistical Massager, welcome to the blog. now sure if it is good news to all singaporeans. when the flat prices hit sky high, how many singaporeans still waiting to buy can afford them?
ReplyDeleteHey Redbean, Singaporeans will not buy, only PRC and the Indians and Indonesians will buy. Singaporeans will sell and move to Batam, Lijiang or JB. Problems solved.
ReplyDeleteyes, all the average singaporeans will have one last fling to capitalise on their good fortune. they have one chance to sell their HDB flats and get out into a cheaper place.
ReplyDeleteif they sell and think of staying back, fat hope, they would not be able to afford another flat with the money they got except to downgrade.
downgrade is the only way.