New developments to share

[potter]

mine is no dream no wish, initially just need for a small hse for retirement. but ended up w big debts. :p

 

[malpaso]

of course can but just that it does not make economic sense to buy just on wish.

well, sometimes fulfilling a wish is also as important as having money. after all, what is money but to be spent. (not all, some of it!!)

 

[malpaso]

mine is no dream no wish, initially just need for a small hse for retirement. but ended up w big debts. :p

uh... small house, eh. well, in that case, i think your overbought. kekeke.

 

[potter]

uh... small house, eh. well, in that case, i think your overbought. kekeke.

but it was a good journey n learning curve after all, viewing from smallest size of BI to...

 

[malpaso]

but it was a good journey n learning curve after all, viewing from smallest size of BI to...

your house dam big.

 

[jasonjst]

An article to share. In Singapore, you need to earn about $10k a month to be very happy, and please don't be a lawyer. Soon to retired people who are the most unhappy people in Singapore are worried about cost of retirement. Iskandar will continue to bloom.

Why Singaporeans' happiness can be bought by money
BY JARRAD BROWN
Published: 23 Oct 13
- See more at: http://sbr.com.sg/financial-service...ness-can-be-bought-money#sthash.FAF6H5QI.dpuf

For many, many years there have been studies conducted on the empirical relationship between money and happiness and a conclusive answer has not yet been widely accepted. I have therefore highlighted below firstly the empirical evidence to support the theory that money does in fact buy happiness. Secondly, and perhaps most importantly, I have highlighted the steps you can take to ensure happiness in your own life.

Money and Happiness – Previous Research

Most economic research has always pointed to a satiation point, beyond which people do not become happier by having more money. This amount is typically enough to cover basic costs plus some freedom within discretionary spending. The amount therefore will of course differ between countries.

Some surveys have highlighted the complete opposite with a 2007 Gallop poll that was conducted showing that just 35% of people earning less than US $35,000 were ‘Very Happy’ whilst 100% of those earning over US $500,000 stated that they were ‘Very Happy’.

Then there is the well-known research conducted by world-famous economist and Nobel-prize winner Daniel Kahneman which pointed to happiness levels starting to level off at approximately US $75,000 per annum. This was enough to cover basic costs and cover some degree of discretionary spending.

This research points largely to one thing…there is NO clear answer at all as to what level of income people must earn to be happy.

Singapore Happiness Survey

There has been a recent survey conducted this year (2013) by JobsCentral Group highlighting the level of happiness amongst the general population here in Singapore. There were some key and quite alarming statistics that were revealed including:

- In 2009 (Global Financial Crisis), the happiness rating was 56.4

o It is currently only 57.9

- S$10,000 per month was stated to be the magic happiness income level

- Lawyers are amongst the unhappiest within the sample population

- Those aged between 51 – 60 years old were the UNHAPPIEST with a score of 55.5 which has dropped 12% since 2009

I have highlighted the last finding from the survey because I believe it is the most important. This illustrates that those about to enter retirement and starting to think about the income they will have to live off are the UNHAPPIEST population group. There are many reasons for this including the wake-up call that retirement is close, a review of the current investment performance, review of their CPF and other retirement accounts, a realisation of the income level they will have to live off.

The key reason is my opinion that is driving this unhappiness is the UNCERTAINTY that has been created by global markets and the economy which is impacting the retirement options for this particular demographic.

It is my belief that the income level itself it not the key driver behind happiness, but it is rather the certainty that this income level can create for the individual by building passive income streams and a safe/comfortable retirement.

The PROOF

Studies conducted in the US around the time of the global financial crisis support the hypothesis that periods of high uncertainty lead to the greatest levels of unhappiness. From January 2008 to November 2008 the happiness score fell 11%. As confidence was restored and the market appeared to be bottoming out, the confidence level climbed 15% quickly within 3 months. The real income levels have dropped from the pre-GFC levels however happiness levels were able to be restored to previous levels quickly.

What should YOU do…?

PLAN…PLAN…PLAN!

The greatest strategy to avoid uncertainty is to have clear plans in place to ensure you are in the best possible financial position. The 5-P rule illustrates this well:

Prior Planning Prevents Poor Performance (PPPPP)

Whether you are 25 or 55 or any other age, the greatest step you can take to ensure that you are not part of this unhappy 51-60yo demographic in the future is to plan for your retirement today. Set out your plan to achieve your retirement goals and this certainty will ensure that you lead a much happier life.

Your money will then in fact, lead to your happiness.

The views expressed in this column are the author's own and do not necessarily reflect this publication's view, and this article is not edited by Singapore Business Review. The author was not remunerated for this article.

- See more at: http://sbr.com.sg/financial-service...ness-can-be-bought-money#sthash.FAF6H5QI.dpuf

1) Only 57% of Singaporean happy ? I guess these people must be those 60.1% , figures seem to tally each other. It droped 3.1% after GE2011 when properties prices get out of hand. PAP kacheong now come out 7 rounds of cooling measures to finally cool the HDB prices , otherwise will be in danger in GE2016 if price goes skyhigh and happiness index drop below 50% . Best to get you HDB is 2016 !
2) Magic number to be happy in Singapore is 10K SGD per mth . For those earning less than 4K SGD , their answer to happiness is to move to Iskandar lah , 4K become 10K RM , magic number !

 

[kopikong99]

1) Only 57% of Singaporean happy ? I guess these people must be those 60.1% , figures seem to tally each other. It droped 3.1% after GE2011 when properties prices get out of hand. PAP kacheong now come out 7 rounds of cooling measures to finally cool the HDB prices , otherwise will be in danger in GE2016 if price goes skyhigh and happiness index drop below 50% . Best to get you HDB is 2016 !
2) Magic number to be happy in Singapore is 10K SGD per mth . For those earning less than 4K SGD , their answer to happiness is to move to Iskandar lah , 4K become 10K RM , magic number !

Well said.

10k RM is happiness.

 

[whoami]

2) Magic number to be happy in Singapore is 10K SGD per mth . For those earning less than 4K SGD , their answer to happiness is to move to Iskandar lah , 4K become 10K RM , magic number !

But pray prices and cost of living across the causeway dont shoot up sky high...too quickly. Otherwise like wat Chinese used to say LPPL.

 

[Sunday]

New Developer freehold terrace near Tuas currently any launches? Looking at 500k-$1M.
Looking to beat the new ruling if possible but no leads so far on new launches there.

:(

May be u can look for landed at Skudai area? May be have below RM$1M, I heard that the M'sia Gov may connect a road to the 2nd link highway.
Good luck in the hunting.... .

 

[jasonjst]

But pray prices and cost of living across the causeway dont shoot up sky high...too quickly. Otherwise like wat Chinese used to say LPPL.

For those already got a home in Iskandar , the effect should be managable as biggest killer should be housing. At most I start my little farm in the back garden.

 

[Valdez]

It was reported in the STAR newspaper that for development projects approved before budget 2014 the min 500k still hold. So no worries... Foreigners can still buy properties below 500k for years to come.

 

[dare2]

It was reported in the STAR newspaper that for development projects approved before budget 2014 the min 500k still hold. So no worries... Foreigners can still buy properties below 500k for years to come.

...how about resale? properties bought b4 2014 will be affected by the ruling when sold to another foreigner? Currently in Sg, properties bought b4 each CM are not affected by the new policies.

 

[Valdez]

...how about resale? properties bought b4 2014 will be affected by the ruling when sold to another foreigner? Currently in Sg, properties bought b4 each CM are not affected by the new policies.

Yes sub sale will be affected. But based on stats majority of property buyers are mostly Malaysians who are spore PR who have the same purchasing power as true blue sporeans.

 

[good2]

Good to learn from you seniors here. thanks

 

[Valdez]

Here is the newspaper cutting. From this morning star newspaper

 

[Funniman]

It was reported in the STAR newspaper that for development projects approved before budget 2014 the min 500k still hold. So no worries... Foreigners can still buy properties below 500k for years to come.

Bumi quota and min purchase price @ 500k is State matter but RPGT is a Federal jurisdiction. Plenty of projects already approved b4 2014.

 

[RedsYNWA]

Yes sub sale will be affected. But based on stats majority of property buyers are mostly Malaysians who are spore PR who have the same purchasing power as true blue sporeans.

Not v clear though that sub-sales are affected, if what is reported in STAR papers is true......

 

[RedsYNWA]

By the way, I read in the local papers that Austin Residence is doing a final launch of its double-storey houses priced below RM 600K onwards. Interested parties can go & check it out.

Oh this morning, the MY customs officer has also kindly reminded me of my guest status, by circling the 'social visit' portion in my MACS. How thoughtful of him....

 

[Chocolate]

Now still nothing to business about. Problem with investors is that they r not going to stay there. How to be livable when ppl bought there not living there?

At the moment Medini is just a construction site. Once its ready , there will be those who choose to live there like those who work in the business sector, retirees who bought because of the Wellness centre. Not to forget also, certain nationalities like the Japanese have invested big in projects like Iskandar Residences. They may choose to stay there also as Bukit Indah doesnt appeal to them. Medini is also near enough to Educity and Pinewood studios, Legoland etc. Not everybody chooses to live in a local setting with 3 supermarts nearby. Some prefer a different kind of ambience. I am sure PH and Medini will have its own fans, those who prefer a more upmarket and exclusive kind of neighbourhood. Some of these expats will rent and if not I know that several investors who bought can afford to keep it as a 2nd home . In PH many of the KL folk who bought don't mind using it as a holiday apartment. PH and Medini are very high profile in Iskandar so the IRDA has a lot at stake.I believe they are committed to making these places attractive enough.
Its just like Sentosa Cove. Locals would say its inconvenient to stay there but there are enough expats who love it. I own a club membership there and can say that its just a different lifestyle. There is even a community that lives on the Marina. On boats.

 

[Frodo]

By the way, I read in the local papers that Austin Residence is doing a final launch of its double-storey houses priced below RM 600K onwards. Interested parties can go & check it out.

Oh this morning, the MY customs officer has also kindly reminded me of my guest status, by circling the 'social visit' portion in my MACS. How thoughtful of him....
View attachment 12903

Should this be cause for concern? I am about to apply for it soon leh.