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flatnose

Calling The Top!

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Calling the top (of this bounce)...Couldn't resist...been here since 2006 and managed to show restraint up to now....heh!

Edited by flatnose

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I was speaking to a colleague in Singapore today. They have bought an off the plan flat in London. They said, and I quote "we can't understand why London is so cheap".

It's not topping whilst the Asian money still sees London as cheap and safe.

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I was speaking to a colleague in Singapore today. They have bought an off the plan flat in London. They said, and I quote "we can't understand why London is so cheap".

It's not topping whilst the Asian money still sees London as cheap and safe.

Was this a phone conversation?

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It's not topping whilst the Asian money still sees London as cheap and safe.

But London may as well be a different country from the rest of the UK, no? Not so sure that Asian money is significantly propping up many other cities.

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Was this a phone conversation?

why? i fail to see the relevance of that question?

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I was speaking to a colleague in Singapore today. They have bought an off the plan flat in London. They said, and I quote "we can't understand why London is so cheap".

It's not topping whilst the Asian money still sees London as cheap and safe.

Seriously?.. Have you been reading the London thread? Prices are still high but London isn't selling and now has a potential over supply of new build flats. Seems like a very fragile situation to me.

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Was it an email exchange?

Psychic connection using the 7 rites of Asknet.

:ph34r:

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Seriously?.. Have you been reading the London thread? Prices are still high but London isn't selling and now has a potential over supply of new build flats. Seems like a very fragile situation to me.

I agree oversupply is coming, but my point is that HK and Singaporeans see London as CHEAP compared to the prices in their home cities. On paper, they look very attractive.

Dislike the message because it conflicts with our wish for a HPC all you want, but it's based in the reality I hear weekly from middle class in those two cities.

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I agree oversupply is coming, but my point is that HK and Singaporeans see London as CHEAP compared to the prices in their home cities. On paper, they look very attractive.

Dislike the message because it conflicts with our wish for a HPC all you want, but it's based in the reality I hear weekly from middle class in those two cities.

maybe you can post some example stuff for sale in Singapore and London.

That should clear up whether or not your out you back end.

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maybe you can post some example stuff for sale in Singapore and London.

That should clear up whether or not your out you back end.

Fair call. Here you go - first, Hong Kong, causeway bay. Middle priced block, 4 bedrooms.

42 milliion HKD, which is around 3.5M GBP

1227 sq ft saleable (the gross includes things like window ledges, communal areas etc)

Canary wharf - double the size of the HK one

http://www.rightmove.co.uk/property-for-sale/property-53070152.html

3.45 M GBP

edit -

4 bedroom flat for sale Pan Peninsula Square, Isle Of Dogs, London, E14

as the link appears not to work

plus - no risk of the chinese government taking it off you in the next 30 years.

Edited by wherebee

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London must still be more expensive than Singapore because London is the second most expensive in the world - second only to Monaco.

http://

www.globalpropertyguide.com/most-expensive-cities

From that Singapore is 7th.

Edited by billybong

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London must still be more expensive than Singapore because London is the second most expensive in the world - second only to Monaco.

http://

www.globalpropertyguide.com/most-expensive-cities

From that Singapore is 7th.

all those surveys are apples and pears. singapore is actually very cheap to live in if you know how and are local.

anyway, I'm done trying to convince those who don't want to listen because of their own biases. Singaporeans and HKers see London as cheap for real estate. End of.

I wish they did not, and I wish there were more controls (as there are in those two cities against foreign buyers, funnily enough!) but reality does not listen to dreams.

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all those surveys are apples and pears. singapore is actually very cheap to live in if you know how and are local.

anyway, I'm done trying to convince those who don't want to listen because of their own biases. Singaporeans and HKers see London as cheap for real estate. End of.

I wish they did not, and I wish there were more controls (as there are in those two cities against foreign buyers, funnily enough!) but reality does not listen to dreams.

Just to be clear for my part I've got no bias about Singapore property (or HK) but I do value good information. That's why I posted the link in the assumption that it's reasonably good. If there's better information then I listen to that information as helping to complete the information jigsaw. Of course £$ etc price isn't always the final or deciding factor in assessing relative value to some buyers but in strict £$ etc price terms London still seems to be the 2nd most expensive in the world from that link.

Edited by billybong

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Know a senior level British guy heading the opposite way. To Singapore. Discussed it in a PM to a hpcer on 26 June.

Favourable tiers for income tax, with top rate 20%.

Singapore follows a progressive tax rate starting at 0% and ending at 20% above S$320,000.
There is no capital gain or inheritance tax.
Individuals are taxed only on the income earned in Singapore. The income earned by individuals while working overseas is not subject to taxation barring few exceptions.

http://www.guidemesingapore.com/taxation/personal-tax/singapore-personal-tax-guide

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Know a senior level British guy heading the opposite way. To Singapore. Discussed it in a PM to a hpcer on 26 June.

Favourable tiers for income tax, with top rate 20%.

Aye, Venger - look at me - a couple of years in HK/SG and I am immeasurably better off than doing the same job in London.

However, I would never buy property there - mental, plus clever anti-foreigner taxes to dissuade ownership.

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Aye, Venger - look at me - a couple of years in HK/SG and I am immeasurably better off than doing the same job in London.

However, I would never buy property there - mental, plus clever anti-foreigner taxes to dissuade ownership.

I can only admire you rebuilding your financial position by leaving UK and working hard at it there for a few years. Yes; with good employment and a lower-tax country can really see work pay well, and the savings compound seriously to get some money behind you - vs here and higher tax and forever HPI.

Yet Carney seems to think UK is going to remain top-dog for everything in financial world, with ever stricter regulation coming through. That no bank can escape 'best practice' and still access the main markets. Maybe so but lower taxes might be a pull, and same for living costs, for UK financial firms now looking at domicile.

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Million pound council houses.

On channel 4 (5?) tonight.

Toppy top top.

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