Saturday, 17 April 2021

Will I ever be able to own a property in Singapore?

Hi guys, welcome back to another episode of SingaporeanTalksMoney, I want to have a causal set up where I talk about the money problems I have or anything that I want to talk or share with you. Today, I am going to talk about getting a property in Singapore.

Turning 26 this year means many of my friends around me who have a partner and are planning to get married have applied for BTOs and most of them have successfully got a unit or if not, opt for a resale property. For me, being single means that I will need to wait till I am 35 years old to get a resale property unless I am going to get a private property.

I have all my life stayed in HDB flats so I definitely hope to buy one in the future because condos/private properties usually have maintenance fees which is sort of a recurring extra costs for the property hence it doesn't really appeal to me. I am staying around the East and definitely have looked through properties in the region. As I am currently single, let's assume that I am going to buy a resale when I turn 35 years old.

My understanding so far

So I know currently that there are 2 kinds of loans available, HDB loan which typically means you will use your CPF funds to pay for your property while there is a Bank loan as well where it could be based on a fixed or floating interest rate.

Mortgage Calculator

HDB has this mortgage calculator that I came across and I think it is really a good gauge to use. Let me show you in the video as I fill in the values that they assess/require.

Property has been a hot investment the past few years

I have been seeing many ads for property investing around when I surf the internet. It seems to really be like a property boom partly I would feel is due to low interest rate and also cos everyone has been saving lots from not travelling? HAHAHAHAH I am really not sure but there has been so many private property projects like Midtown Modern, Irwell Hill Residences and so on.

Worries on the future outlook

With many of my peers getting a BTO which definitely will be of a lower price than resale, it means that 9 years from now, when I am 35 years old, the prices that I am looking at will most likely not be the same. It kinda worries me in the long term when I compare my salary and property prices also on my living expenses.

Anxiety starts when you think about conditions that you are not in control of. Constant overthinking can give me more stress as I go along. I try to not think about it because it is not something that I can control and instead work on my present where there are things that I have control over. Hope you guys enjoy this different approach of video.

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Thursday, 15 April 2021

Coinbase IPO | From $381 to $429.54 and closed at $328.28

Having a cryptocurrency exchange be listed on the NASDAQ is funny because cryptocurrency is thought to be decentralised meaning the government does not control it's supply and cannot produce more Bitcoin for example when it is in high demand.

So it is funny that Coinbase chooses to list on the financial market which is usually manipulated or controlled by institutional investors. However, being the first major cryptocurrency start-up listed in the US market, it has added more credibility to cryptocurrency showing it's power as it's listing IPO price beats the original reference price of USD$250.

 Read more: Q1 2021 Portfolio Update | Crypto, Stock Holdings and Dividends

Coinbase IPO Price

Coinbase opened at $381 and quickly shot up as high as $429.54, before closing for the day at $328.28. It is amazing how valuations are nowadays with IPOs being so hot. From Airbnb to Slack and Roblox, IPOs really are red hot as people want to snag a piece of it for themselves. There is so much volatility and excitement in the stock market that at times, it kinda scares me as price increases and decreases at such a rapid pace. All right, back to the topic of Coinbase.

Cryptocurrency prices leading up to Coinbase IPO

What it did was also to drive cryptocurrency prices up with Bitcoin hitting USD$64,000 and dogecoin hitting ATH. Coinbase being able to do a direct listing definitely boost the confidence that cryptocurrency is definitely here to stay. Traditional banks will now have extra competition as different storage avenues are available and people can have more exposure to them.

Coinbase has also mentioned that their business results would fluctuate with the volatility of crypto assets. This is a huge step into exposing more people to cryptocurrency and those who have stood with it since the beginning can finally see all the aspiration and ideas come true.

Read more: Let’s talk about Cryptocurrency | Revealing my Crypto holdings

Making history

It is amazing to be witnessing this whole thing and it will go down in history. I am happy to be able to record this down in my blog. There are just so many things happening that is worth recording. Let's see 10 years from now, how different would cryptocurrency be?

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