Spot on especially on your point - hoping for en bloc is a gamble so true. The only beneficiaries of real estate are those citizens who get BTO at subsidised rates & after 5 years MOP they could sell it with a 50% markup to buy a condo and during their later part of life they sell the condo , cash out, downgrade to a smaller HDB. This is neither available to PRs or Foreigners nor would it suit anyone who wants to retire elsewhere.
Like the analysis… I am here in sg for 14 yrs and I totally agree with you …. Capital appreciation is like 3-4% max year on year … rental income is the only saving grace … if you can hit 3% rental income + 3% capital appreciation, that will have 6% returns… that’s why most people wait for minimum occupancy period to end and sell/upgrade
Even 3 - 4% would be a reasonable outcome compared to what many others have realised. Then there are those hoping for En Bloc sales, which can then trigger Sellers Stamp Duty, and potentially CGT in Australia if you're no longer an SG tax resident. Certainly not a path to proceed down without proper advice.
Love your videos. Wish there was a similar series to assist Australians moving to France who are challenged by CG, inheritance laws ... Americans appear to have far more comprehensive double taxations laws than Australians & the IRS is almost cuddly when compared with the ATO.
Thanks very much for your feedback - appreciate it. I think that might be the first time I've heard the IRS described as 'cuddly' ;) Feel free to email me through any specific questions you have, and I'm sure within my network we'll be able to help.
I think you are clueless on value of Singapore properties......I'm flabbergasted that you were there for 10 years and did not cash in on the property boom.....
Always very happy to be corrected here, but the Residential Property Index since I arrived in Singapore has delivered an annual return of 2.44%. This ignores any purchase costs / stamp duty / taxes etc, which obviously would reduce this figure further.
In fact tax freemoney is the only reason to live those million dollars cramped condos in Dingapore. No life there just pingy pongied working 13 hours a day while clinging on to their latest iphones
The attractive tax system is definitely a driver for many to remain in Singapore, but I'd certainly suggest there are many other great reasons to be in Singapore. Safety, proximity to travel, job opportunities, business opportunities to name just a few.
Dont understanding why you actually have these subjects...everyone knows having good health is the first thing we think abt ..we Singaporean 99% owns a home ...rich or poor and you prefer renting a home here? Hahaha
As you may have picked up, my comments are as an Australian expat with a global tax framework as an Australian citizen. For your reference Singapore home ownership has actually declined from around 93% ~20 years ago to around 89% today. Still very high given the exceptional HDB system, however outside of this, I don't see a great deal of upside in private property as an Australian citizen (hence my video). Nonetheless, I appreciate your comments. Always welcome insightful opposing views.
Spot on especially on your point - hoping for en bloc is a gamble so true. The only beneficiaries of real estate are those citizens who get BTO at subsidised rates & after 5 years MOP they could sell it with a 50% markup to buy a condo and during their later part of life they sell the condo , cash out, downgrade to a smaller HDB. This is neither available to PRs or Foreigners nor would it suit anyone who wants to retire elsewhere.
Thanks for your note here.
Like the analysis… I am here in sg for 14 yrs and I totally agree with you …. Capital appreciation is like 3-4% max year on year … rental income is the only saving grace … if you can hit 3% rental income + 3% capital appreciation, that will have 6% returns… that’s why most people wait for minimum occupancy period to end and sell/upgrade
Even 3 - 4% would be a reasonable outcome compared to what many others have realised. Then there are those hoping for En Bloc sales, which can then trigger Sellers Stamp Duty, and potentially CGT in Australia if you're no longer an SG tax resident.
Certainly not a path to proceed down without proper advice.
Love your videos. Wish there was a similar series to assist Australians moving to France who are challenged by CG, inheritance laws ... Americans appear to have far more comprehensive double taxations laws than Australians & the IRS is almost cuddly when compared with the ATO.
Thanks very much for your feedback - appreciate it.
I think that might be the first time I've heard the IRS described as 'cuddly' ;)
Feel free to email me through any specific questions you have, and I'm sure within my network we'll be able to help.
60% additional stamp duty... I assume the government use this method for a similiar reason to owning a car in Singapore???
You're absolutely spot on. Sometimes you don't have to look too hard to work out what behaviour they're trying to motivate.
I think you are clueless on value of Singapore properties......I'm flabbergasted that you were there for 10 years and did not cash in on the property boom.....
Always very happy to be corrected here, but the Residential Property Index since I arrived in Singapore has delivered an annual return of 2.44%.
This ignores any purchase costs / stamp duty / taxes etc, which obviously would reduce this figure further.
In fact tax freemoney is the only reason to live those million dollars cramped condos in Dingapore. No life there just pingy pongied working 13 hours a day while clinging on to their latest iphones
The attractive tax system is definitely a driver for many to remain in Singapore, but I'd certainly suggest there are many other great reasons to be in Singapore. Safety, proximity to travel, job opportunities, business opportunities to name just a few.
Dont understanding why you actually have these subjects...everyone knows having good health is the first thing we think abt ..we Singaporean 99% owns a home ...rich or poor and you prefer renting a home here? Hahaha
As you may have picked up, my comments are as an Australian expat with a global tax framework as an Australian citizen.
For your reference Singapore home ownership has actually declined from around 93% ~20 years ago to around 89% today. Still very high given the exceptional HDB system, however outside of this, I don't see a great deal of upside in private property as an Australian citizen (hence my video).
Nonetheless, I appreciate your comments. Always welcome insightful opposing views.