I wonder if this affects @VicBee who moved to Singapore a few years ago:
https://www.bbc.com/news/business-64714107
Paradise is expensive.
https://www.bbc.com/news/business-64714107
Paradise is expensive.
'Doomsday': Singapore renters sound the alarm as prices surge
- Thread starter ironchef
- Start date
Yup, we've been dealing with a rent gouging frenzy since right at the end of COVID. Foreigner prices are significantly higher than Singaporeans... We started out at US$4500 and when our lease expired last year our rent went up 45%. The owner wanted +85%. The good news is that prices are coming down some. Our lease is up in July and we're going to try for a 20% reduction.
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If I may ask, what's your % tax on capital gains? AFAIK, you need to be making at least hundreds of thousands per year trading for it to be worth it (quality of life, personal circumstances and other considerations aside, just from a tax savings vs. cost of living perspective).
My plan is to move there if/when I grow my account from 6 to 7 figures.
Why in the world would you do that? It's a city state. You move your corporate entity there if you're a large business but as an individual it makes no sense. Even Malaysia makes more sense, you can live near the border with Singapore if you want.
The cost of living here is quite high, although salaries are commensurate. As a retiree you're better off in Malaysia or Bali or Thailand where cost of living are much lower.
No tax on capital gains, although that doesn't matter as an American.
%%
LOL OK;
And looks like MCD Big Mac is better deal worth singing about in Singapore than HI
Repeat, Singapore maybe better singing about , than HI= LOL
Surprisingly, Americans buying a property in Singapore don't have to pay a 12% stamp duty. With prices for 800 sqft selling at a couple mil, it's significant.
