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Rich Chinese step up hunt for foreign investment bets to mitigate risks at home
https://www.reuters.com/markets/rich-chi...022-12-19/
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these are hot money.
chinese are more likely to invest in real estate. the impact will be the prime range of singaporean who is looking for housing will be sadden with housing loan for years more then they should.
example . if 2 person earn 6k earn . at 12k their affordable range of house is 1m. but they can only loan about 600k. so more likely can buy 800k house.
in the past that can get a private housing or core hdb. with influx of foreign hot money things are changing.
especially those moving in from hk. they are used to high house price. so singapore hdb looks especially cheap. they sell hk house buy here still got lots of money left over. that is not a problem as talent moving to singapore will boost economy eventually. problem is singapore is slow to them. when hk covid-19 problem over. many will move back for their fast pace of living. to them singapore too slow. move like tortise angry take so long for things to happen. just learn from the last time that there was a huge flow of hk people to singapore. many eventually return.
chinese rich also similar as they complain, this island small place. not happening enough. use as spring board to jump to usa.
now they come buy, push up price. later sell high move on. singaporean stay permanent here one stuck with high loan. earn pay debt for 25-30 years no joke. job become more unstable from 40 years old onwards.
PR < 5 years from buying resale hdb. band PR from buying core location resale hdb. that will at least take off some pressure from fast raising hdb price.
raising hdb price is welcome buy spike will cause a lot of problem and unhappiness.
seeing many oldies sellign their bigger flat and downgrade to smaller flat. this will have impact on next generations as wealth gap will be made worse. those man on street will become comparatively poorer due to asset inflation .
warning don't be greedy for the asset inflation bonus. with it will be higher housing loan payment for many later and possible negative asset if the worse happen. ie a huge wave of pr moving back homeland.
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Even Ccp fan dogs are staying in Spore despite spreading daily fake propaganda in sgtalk how good their motherland is
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Aiya if you work as hjzg amd, how not to be 普洱蛋发?