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Thinking of spending my summer in UK
SINGAPOREANS visiting, investing or studying in Britain are rejoicing: The British pound has, for the first time, dipped below the psychologically key barrier of S$2.
Back in the 1960s, one pound fetched as much as $8, but now it is worth less than Singapore's smallest banknote.
The pound first dropped below $2 on Dec 29, sinking to $1.997. It slipped further to a record low of $1.9854 on Dec 31. It inched back up on Tuesday, hitting S$2.0084 in the late afternoon.
The pound last breached a key barrier against the Singdollar in 2007, when it fell - and stayed - below S$3.
So while the exchange rate used to give pause to Singaporeans mulling over a trip to Britain, many are now cheerfully signing on the dotted line for financial commitments as large as a London property.
'There are even some Singaporeans who have bought entire apartment blocks in London and are now renting them out as serviced apartments,' said property consultancy Knight Frank managing director Tan Tiong Cheng. Buyers include cashed-up savvy investors and families seeking accommodation for children studying in Britain, he said.
Read the full story in Wednesday's edition of The Straits Times.
SINGAPOREANS visiting, investing or studying in Britain are rejoicing: The British pound has, for the first time, dipped below the psychologically key barrier of S$2.
Back in the 1960s, one pound fetched as much as $8, but now it is worth less than Singapore's smallest banknote.
The pound first dropped below $2 on Dec 29, sinking to $1.997. It slipped further to a record low of $1.9854 on Dec 31. It inched back up on Tuesday, hitting S$2.0084 in the late afternoon.
The pound last breached a key barrier against the Singdollar in 2007, when it fell - and stayed - below S$3.
So while the exchange rate used to give pause to Singaporeans mulling over a trip to Britain, many are now cheerfully signing on the dotted line for financial commitments as large as a London property.
'There are even some Singaporeans who have bought entire apartment blocks in London and are now renting them out as serviced apartments,' said property consultancy Knight Frank managing director Tan Tiong Cheng. Buyers include cashed-up savvy investors and families seeking accommodation for children studying in Britain, he said.
Read the full story in Wednesday's edition of The Straits Times.
