The developers are worried that the recent property curbs may dampen the property market and lead to a recession. I think they are unduly worried and the fear is misplaced. Singapore is the choice estate for the rich to park their money, good or bad money, as long as they can get them in. The attractiveness of Singapore is a stable and good govt and a system of rule of law. Once the money is in and legally accepted, the money is safe.
With so much money floating around the world and seeking a safe place to hide or park, where else but Singapore. For this reason, more money will keep flowing in as other places are turning bad. Switzerland has lost its attractiveness when its privacy status is being challenged, and with foreign govts being able to pry open private accounts. The Arabs are also starting to realize their stupidity for putting money in Europe and the US when the Americans could seize them at will. And the US dollar is no longer a safe hedge for the future.
The developers should have no fear as foreign money are aplenty and will keep coming in as long as the door is open. In fact they should prepare for a flood of foreign funds into the island. The price of private high end properties should never be an issue as the reason for the money to be here is safety. And there are plenty of these monies wanting to come in.
Stop crying wolf. They could hold their prices or even expect the demand to increase. How much more land can this piece of rock sell to foreigners? And the prices are guaranteed to go up and up. The best hedge against inflation, and very safe.
43 comments:
Now, the above title in this essay is not a misnomer. I would add that , outside money knows pappy is very good at keeping these money safe since there are many avenues to wash and bleach . One established fact is that sinkies will continue to get squeezed dry but never the foreigners' . As long as any foreigner is free to leave anytime with the money at the expense of sinkies , the safety of this mechanism ensures free passage in and out. But the most important result of this exercise is this : sinkies will still get to be fed the scraps as long as the party lasts.
China on the other hand is even smarter. Money that got poured in by the foreigners under the illusion of rising economic power just realised this is no suckers game. The perpetual RMB weakness is keeping the foreign funds locked up in a currency trap. Hence the competitive weakening of currencies is in play . While SGD continues to stengthen, the party will continue.
The foreigners are making a killing in many ways. Other than cleaning their money, they probably used weak currencies that are depreciating daily to buy our properties. They gain in two ways, property prices go up and appreciation of the Sing dollar.
Every crook would want to park their money here.
I salute the wise man who saw this coming and bulldozed the idea of IR just like how MRT came to existance. He is very very wise. If only we sinkies dun get to be squeezed so badly he would have had more support instead of unhappiness. But all is fair and square , what we have lost from the kitty in terms of dud investments ( US banks, Swiss banks , Pakistani banks , telcos etc etc ) we get it back one way or another with this brilliant idea of a safe haven for money. Lucky old man hasn't lost his midas touch.
The tally for losses continues to pile up. And more millions are placed like betting chips for more carefully thought out brilliant investments that would make Tony proud.
That's why , all the more we have to make Singapore even more of a safe haven to draw back the lost billions. SGD will continue to go up and up ( hence dun buy gold if it is never going to get out of USD denomination, unless you are an amerikan using and living USD) . Properties will continue to rock up ( 10% increase in tax for foreign funds sure is no deterrant , taken as fees for laudry only lah) . While SGD continues to go up and up , guess, who gets squeezed ?? A sinkie who is only confined to singapore will never get to enjoy the perks of a really strong SGD.
Still can be happy what. HDB flat value appreciating, and monthly statements from the CPF...wow rich man. Damn shiok man.
Yes, happy sinkie. Carry on sinking.
Developers are blood suckers. Why didn't they sound their worries when they fight among themselves bidding higher and higher for every piece of land and boasting their profits years after years ?
If you have acquired lucre and it is stinkingly filthy with human cum, blood and a cocktail of drugs dripping off it, there are other places in world were you can get tbe full spa treatment, enzyme wash, wash, dry, starch and iron.
Singapore's laundry services used to be like the dhoby... Meticulous, reliable but uninteresting. Then Uncle Sam and the European Union started to shit on cuntrees like Singapore which offered laundry services and "safety" for the people's private wealth, and the wealth stolen by dictators from citizens, and directors from corporations.
However over the years there's been increasingly bad press about Singapore as a tax haven and a money laundering centre. Add to that the global “war on terrorism” and the financial sector is now VERY KIASU compared to say, Hong Kong or the Caribbean.
Singapore's govt is always concerned about the national “reputation”. Actually they don't mind if labels like “straight laced” and “boring” are attached, as long as they are not over the top. Wealth loves control and surety. Therefore hantaming political dissent, and having a no-nonsense rule of law, whilst demonstrating to the world that the population is well-off so there is little chance of “rebellion” carries huge VALUE for attracting customers with plenty of LEGAL money.
I like Singapore's financial system. I think it ROCKS!
Where there is money, there is always FUN and there is always SEX.
Open borders, the rule of law, a secure financial system, and a peaceful population. Throw in a pool of attractive, horny women...
...what more could a beach bum like me want?
Remember boys: In Singapore you are never more than 30 mins away from a blow job.
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Cannot be better put, M_S. One of your rare entries that I agree with even though it hasn't lost any of your usual graphic carnal descriptions.
Safe very safe but once the big tree is floored all the monkeys will shattered.
@anon 1114
> it hasn't lost any of your usual graphic carnal descriptions.<
But of course. I aim to maintain my standards.
Depends on what kind of monkeys , orang utan or the chimpanzee ? ahh....
Let's not forget our genetic cousins, and always respect their nature
M_S, Given your fixation on self-pleasure , may I ask if this is truely a Freudian slip ?
Masturbation Sensationale always respect his natural inclination.
Better up then down. Better in demand than no demand.
Otherwise, prostitutes will be out of business and MS will be a very lonely bitch boy.
Otherwise, prostitutes will be out of business and MS will be a very lonely bitch boy.
December 29, 2011 11:56 AM
is that the result of mudder farking?
Guys Guys Guys ... we were all doing so well until a simple question on Freud degenerated to all these. Let'c come back to the main topic ok ? MS bashing once in a while is OK but prease include the topic of discussion relevant horrr.... prease
Many prostitutes are mothers so you can say there are many mother fuckers out there. LOL
Before you accuse me of being a KayPoh Chi , I was just getting to enjoy some of your more cogent thoughts. Too bad , you have too many not so friendly readers. But I am sure you are well capable of defending your beach "bum".
prease. ..i like properly market...it goes up down up down up down...very shiok. ..prease
Hi guys, you all are getting so friendly and cosy. I know Matilah will be his usual self when wants to be friendly with me.
Just don't get too friendly to frighten other bloggers away. Then you will get more interesting views from more people : )
The best formula to solve the housing pain and make Singaporeans happy is to allow the foreigners to buy the private properties to put up the prices, which will push up prices of public housing as well.
At the same time the govt should build as many HDB flats as needed for the first and second timers at really cost plus prices. Everyone given two bites of the cherry.
First time, young, small family don't need too big flat. Second time to upgrade when family grows.
If govt can do this, the people will be happy as they will get their roofs at really reasonable prices and then benefit from the inflation of prices.
The idiots wanted to make from first and second timers and foreigners as well, and max their profits some more. That is where the big pain comes from. Screwing the people at the same time.
Minister Chuan Jin had just announced that more condos will be built to the growing demand of Singaporeans. So, got money, buy lah property, stock and whatever money can buy.
Money from all over the World, clean or filthy, will flow into Sin, it is the safest haven of all haven, You can be very sure of it.
patriot
Mothers make very good chicken curry. MS very preese.
LOL
should be "preesed"
should be pricked
Yah , use up all the green belts for new housing/condos. Let me just state, by then people will all get used to the ponding in Orchard becos it will also be island wide. Sinkes -> sink
So long as the conditions allow an up price or maintain an erection, we shall have many orgy parties.
MS shall have many curry sessions.
Sigh , why this blog got one who is fixated on swearing and the other fixated on curry one ? why why why ???
Curry is really nice food. Please dun abuse the word anymore. Can ??
Love everything indian?
OK , i admit , I am actually benefitting from from the strength of SGD due to its safe heaven status. I actually feel "richer" when I go to countries pegged to weaker currencies. All is fair and square. sinkies , go outside and spend !
Go buy some curry puffs and be blown away.
Wow. MS this MS that. You motherfuckers got too much time on your hands.
Anyway knock yourselves out, fellow mammalian primates. Remember you're MORTAL. You might enjoying wasting your time being a smart arse. As you do, you move closer to the moment of your eventual DEATH.
Nice to know I worthy of such lavish attention. :-D
I hope the thought of me provides you some comfort in your final, earthly moments! ;-)
OK, we have established that MS, apart from his love for churning out curry, he is also a necrophilia.
I got my suit dry cleaned with Mr Dobi Dry Cleaning Singapore. They have a very thorough laundry/ dry clean service and their staff are also really helpful.
A great place to do your laundry in Singapore is Fresh and Clean Laundry Services Singapore. My friend runs a business and uses their corporate laundry package- and she's pretty satisfied =)
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