You can definitely pay taxes in both locations for distinctly different reasons. But you will not get taxed for the same income due to the double taxation treaties in existence.
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Living in JB 3 (Johore)
- Thread starter wuqi256
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You can definitely pay taxes in both locations for distinctly different reasons. But you will not get taxed for the same income due to the double taxation treaties in existence.
No, will definitely get a smaller apt in Sg later on. See how things goes in the next 2-3yrs first. Personally I see both upside and downside for property prices in Sg being confine to +-10-20% at these level (stagnant wages for long time to come) if things remain status quo but a possible 100% rise or more in Iskander properties esp the high end ones.
But first must tolong, tolong that things don't turn ugly after a surprise MY 5/5 election results or else dream retirement plan there all finished liao. And people here in Sg will all say "I told you so!""I told you so!"
Property market in Singapore is definitely doomed to fall over the next 2 years. Regulators will aim to bring down the prices to be in time for the 2016 GE. So it would be good to pick up then. The writing is already on the wall. Concentration on sub urban units, majority of buyers are HDB dwellers, absence of free-spending foreign investors and sales of luxury units.
As in the stock market, the funds have stopped buying and the retailers like Uncle, Aunty, Ah Sohs continue to pile up on penny stock. The sign that the market is halting the tango.
Property market in Singapore is definitely doomed to fall over the next 2 years. Regulators will aim to bring down the prices to be in time for the 2016 GE. So it would be good to pick up then. The writing is already on the wall. Concentration on sub urban units, majority of buyers are HDB dwellers, absence of free-spending foreign investors and sales of luxury units.
As in the stock market, the funds have stopped buying and the retailers like Uncle, Aunty, Ah Sohs continue to pile up on penny stock. The sign that the market is halting the tango.
Yes and tax residency counts a great deal. The difference is seriously significant. For folks who intend to apply via the residence T route and not through MM2H, paying taxes for at least 2 years in MY is essential towards qualification.
It will be a sad state of affairs when the music finally stops and there are much lesser chairs to sit down on.
There will always be people who will do the "I told you so" routine, just let them be so that they can feel better about themselves and their inability to take any course of action. How many really own up when they were wrong about other things? Those who claim they have never make any mistakes are those who are doomed to repeat them, no one is perfect in this world, everyone makes mistakes. Nothing wrong about mistakes as long as one learns from them, only thing is not to keep repeating them.
Very much agree with you. I always feel the next 3 yrs are very vulnerable for properties in Sg. I think many people right now are rather fully stretched with their car and housing loans. Many suburban shopping malls are very quiet on weekdays. Mass en blocs and massive foreigners buying days are almost over. Interest rates, loan tenures and home sizes have already reached their limits, so is rather dangerous if some unforseenable things pop out. The worst is salaries are lagging way behind.
I always feel this is the only way our govt 'gives' us $$$ is by pushing up our property prices, so must capitalize on it by selling it to downgrade or migrate. If not, back to square one. But timing is very important as this was my only property in Sg.
Cheers.
You've said it bro! Self confidence is the key.
wuqi,
What is this residence T route you are alluding to? Was it the same as the 182 day rule thing? or something else?
Thanks.
Will you sell your singapore property/s? Hard to find anyone willing to do that if they are convinced market will crash.. HDB can keep because govt will make sure it won't fall. However I don't have such luxury..
I think the general property market - excluding high end and luxury sector has peaked sometime 4Q2012. Worst case it may remain sticky at current levels. Agree with Bro Fund Transfer, there is more downside pressure, especially on the entry to mid range properties. How much I think is a function of the rate of job losses in a weakening economy and in part unintended side effects of various government cooling policies. Granted there is also a political dimension to the equation. Clearly the global economy has been rather weak. Singapore being an open economy will continue to get dragged down with it.
The key thing I am watching is jobs. Today's MOM report about layoffs is probably just the start of the trend to come. Just ignore their upbeat spin explaining the job losses in the report. They all are paid to tell a good story in face of bad data. Just concentrate on the numbers. The key take away was layoffs in the services sector. At the end of the day it is the jobs, jobs, and jobs that drive any economy.
Such is the beauty of life. If indeed a correction is on the way and the Singapore economy is weakening, it does throw up a host of other questions. Job security, risk appetites, etc. Also how is that going to impact on Iskandar Johor considering Singapore and Singaporeans are the bigger subset of foreign investors in Iskandar? Interesting times.
I suspect the average household debt levels are extremely high right now in Singapore. Very evident of the spate of clamping down by MAS designed to prevent any further household debt leverage. From property to cars. They even clamped down the excessive unsecured lending in the likes of Courts, Harvey Norman types. The credit card debt roll overs trends in the decade ain't pretty.
The unexpected thing is an accelerated weakening of the economy for whatever reasons.
No, the government never give us anything. You are lucky if they do not try to scrap more off you. What the government does is to give you an "illusion of wealth" with high property prices.
Whether one chooses to capitalise by cashing out parts or in its entirety is really up to the individual.
Bro, already sold end of last year. No more house in Sg and is renting now. Yes, very risky for me to do so, but need to keep some money for retirement. Probably will try out living in MY first when property TOP. in end '14 or '15 and will buy a smaller unit in Sg to keep sometime later. Problem is got 2 schooling kids. Hopefully will not be too inconvenient.
Cheers.
Ha ha! We so poor things!
Btw, are you staying in MY now or also renting in Sg like me?
i am renting in Singapore. It is reassuring to see someone in same situation as me.. Ha
Hope you didn't sell your house too early like what 2 of my friends did in mid 2010. At least you hedged yourself by buying properties in Nusajaya early at good prices.
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