Upload
binh-nguyen
View
79
Download
0
Tags:
Embed Size (px)
Citation preview
MONEY MARKET
• The official currency : Singapore dollar (sign: $; code: SGD)
• Notes : SGD 2, 5, 10, 50, 100, 500, 1,000, and SGD 10,000.
• Coins : 1, 5, 10, 20 and 50 cents and SGD 1.
• The US ,Australian dollar, Yen and British pound are accepted at major shopping centers and restaurants.
• Exchanging money in some banks will be plus a service charge on each exchange transaction at about S$2 or S$3.
• Major credit cards are generally accepted American Express, Diners Card, JCB, MasterCard and Visa…
CURRENCY DEPOSIT INSURANCE• Wide choice of currencies: Choice of 10 foreign currencies: AUD, CAD, CHF,
EUR, GBP, HKD, JPY, NZD, RMB and USD (Foreign Currency Fixed Deposit Account).
• The following Singapore dollar denominated deposits placed with a Deposit Insurance Scheme member are covered:– Savings account– Fixed deposit account– Current account– Money in CPF Investment Scheme
• The following deposits are NOT covered:– Foreign currency deposits– Structured deposits– Investment products such as unit trusts, shares and other securities
• Up to S$50,000.
EXCHANGE RATE• Singapore has the highest trade to GDP ratio in the world at 407.9
percent. (which is the sum of exports and imports divided by the gross domestic product.)
• The Asian Dollars Market has since grown to a total asset size of more than US$1 trillion.
• The trend appreciation of Singapore dollar over last decade has helped to limit imported inflation in Singapore.
SINGAPORE’S MORGATE MARKET
Persons per square mile : 18,645 (USA: 84)
Dominance of Housing & Development Board (HDB) in housing • Public Sector (HDB) from low income to upper middle
income groups – flats 82%.• Private sector - 18%
Two financing systems in Singapore• The HDB public finance. • The commercial finance.
The majority of the home purchases in Singapore is financed through the use of Central Provident Fund (CPF) - The CPF is the Singaporean’s social security system, providing pension, medical care as well as other schemes.
KEY INSTITUTIONS IN SINGAPORE’S HOUSING SYSTEM
HOUSING AND DEVELOPMENT
BOARD
CENTRAL PROVIDENT
FUND
COMMERCIAL BANKS, FINANCE
HOUSES
• HDB Town Planning • Collects employees’ and employer contributions
• Members can withdraw funds for approved purposes, including housing finance
• Builds and sells subsidized public housing (99 year leasehold)
• Offers mortgage loans - up to 30 years - 90% LTV - int rate = CPF saving rate + 0.1% = 2.6%
• Provides market interest rate mortgages to buyers
• Make loans to private sector developers for construction and investments
PUBLIC HOUSING SECTOR (HDB)
Public housing
House buyers
HDB
CPF
Commercial banks
Mortgage loans
Resale market
Contributions
Down paymentMortgage payments
Market rate mortgages
Gov
t loa
ns, g
rant
Purc
hase
of
govt
bon
ds
Housing grants
Down paymentMortgage payments
Direct purchase
PRIVATE HOUSING SECTOR
Private housing
House buyer
Developers
CPF
Banks
Contributions
Down payment Mortgage payment Market rate
mortgages
Loans
WHO CAN BY PROPERTIES IN SINGAPORE ?
SUBSIDIZED NEW PUBLIC HOUSING
ELIGIBLE CITIZENHOUSEHOLDS
MARKET PRICERESALE PUBLIC
HOUSING
CITIZENS ANDPERMANENT
RESIDENTS (PRS)
HDB direct sales
HDB secondary market
HOUSES CITIZENS ONLY Private housing market
APARTMENTS & CONDOMINIUMS
CITIZENS, PRS, FOREIGNERS
Private housing market
PRICES Average – August 2010
PUBLIC HOUSINGHDB flat
PRIVATE HOUSINGcondominium
3 Rooms 4 Rooms 5 Rooms Executive
> 2,000 sq ft
More than 750,000 (USD)
(700 sq ft) (970 sq ft) (1,200 sq ft) (1,400 sq ft)
213,860 (USD) 276,550 (USD) 329,755 (USD) 407,070 (USD)