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Home Loan Approvals Spike Up With Increased Sales in Singapore Property Market...

Written by Dennis Ng on .

Loan approvals spike in tandem with sales in Singapore property market


By Ng Baoying, Channel NewsAsia | Posted: 03 September 2009 2036 hrs

Prospective home buyers visit a condominium showroom


SINGAPORE : The demand for home loans has escalated, on the back of the booming property market in Singapore. 

 

Some banks, like OCBC, said they have seen loan approvals double in the second quarter, compared to the first three months. And industry players expect this momentum to continue into next year.

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Gambling vs Investing, What's the Difference?

Written by Dennis Ng on .

Have you invested before? Recently, many people "invested" into New condo launches. Actually, some of them are just gambling, but they think they are investing.

Gambling vs Investing, what's the difference?

When you're gambling, you are just betting on chance, your end-result depends on luck primarily. One common example is people who buy 4D or TOTO, the outcome is entirely dependent on luck.

The other day I went to the Singapore Science Centre with my children. One of the exhbits actually shows that the chance of getting all the 6 numbers RIGHT for TOTO is even slimmer than being struck by lightning.

However, every week I see people queuing up to buy TOTO. Guess they think they are very, very, very lucky. Otherwise, it is simple maths to know that if they do this on a long term basis, they are almost guaranteed to Lose money, not make money.

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0.4% of People Paid 25% of Income Taxes Collected by IRAS!

Written by Dennis Ng on .

Talking about the Rich-Poor Divide, it seems that the Rich are getting Richer, while the Average are getting Poorer from the latest statistics from IRAS.

Cheers!

Dennis Ng, http://www.MasterYourFinance.com - When You Master Your Finances, You Master Your Destiny!

THEY make up just 0.4 per cent of resident taxpayers – but account for a hefty one-quarter of net personal income tax payable.

In all, 3,799 residents, a surge from the 2,751 in the previous year, declared an annual income of above $1 million for Year of Assessment (YA) 2008.

Their net tax payable? $1.36 billion, or more than what’s payable by some 830,000 resident taxpayers who make $150,000 or less a year.

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