How much are you earning per annum?

Originally Posted by Unregistered

You think S'pore condo made of gold?
Penang condo made of dirt?
You should be ok with 5k in S'pore. Expect to have quality life with RM 6k in Penang inclusive of condo rent? Must be dreaming!

You are clearly clueless and ignorant of property markets.
You can easily rent a nice 3 bedroom condo in Penang for RM1,000 pm.
Go to Propertyguru Malaysia and you can see many units available for rent.
RM6,000 to live in Penang is definitely comfortable.
The average salary in Penang is around RM3,000 pm so, a dual income family earns RM6,000 pm.
For us retired couple, with no kids, RM6,000 pm is in fact a lot.

Are you M'sian? If not, and If you want to live in M'sia on long term basis, you need to go on the M'sia My 2nd Home program. To qualify, you need to fulfill the following conditions:

"Applicants over 50 have to show assets over RM350,000 in M'sia and monthly income of RM10,000. Applicants receiving a government pension over RM10,000 a month will be exempted from making the Fixed Deposit"

I know Thailand recently announced measures to tighten up transient retirees from staying in the country. They also require proof of financial soundness before they allow foreigners long term visas.

Basically, no countries want poor foreigners, except those brought in for menial work.

Originally Posted by Unregistered

You are clearly clueless and ignorant of property markets.
You can easily rent a nice 3 bedroom condo in Penang for RM1,000 pm.
Go to Propertyguru Malaysia and you can see many units available for rent.
RM6,000 to live in Penang is definitely comfortable.
The average salary in Penang is around RM3,000 pm so, a dual income family earns RM6,000 pm.
For us retired couple, with no kids, RM6,000 pm is in fact a lot.

I've booked my new car before getting the year end bonus to avoid the crowd at the end of the year. Since COE prices is likely to go up, esp the popular Cat A COE, it is best to buy now and secure the COE. Cat A COE is only $63k, this is cheap compared to the $100k in the past. Now, with so many people with high salaries and big bonuses, demand for new cars is very high. With high demand and limited road space, COE prices will only go higher. Cat A COE will go to $70k by Jan 2015 while Cat B COE will go to $90k. Many are changing to new cars before the lunar new year.

Originally Posted by Unregistered

Thanks for sharing I'm living in China with chinese wife.

I'm a pimp and I own 2 brothels in Beijing, passive income around 50 to 80k rmb per month.

I also own a condo in Beijing, rent out to expat family, one month 3.5k.

I run a small tourist scamming business in Beijing, monthly profit between 50 to 80k rmb.

I also run a kiddie ride rental business, monthly profit 70 to 90k rmb.

I also own several bicycles mostly fully paid, personally I ride a trishaw for work, during leisure I cycle a mountain bike, my wife has a bicycle to travel around when I'm at work.

My wife also has over 100 kidnapped slaves for exporting to neighbouring countries, annual revenue is around 1 to 1.2 mil rmb, not much though.

I also currently have about 5.5mil rmb in a China bank, the interest rate is good compared to singapore, my sg dollars are mainly in stocks.

haha i lol'd at this

Originally Posted by Unregistered

I've booked my new car before getting the year end bonus to avoid the crowd at the end of the year. Since COE prices is likely to go up, esp the popular Cat A COE, it is best to buy now and secure the COE. Cat A COE is only $63k, this is cheap compared to the $100k in the past. Now, with so many people with high salaries and big bonuses, demand for new cars is very high. With high demand and limited road space, COE prices will only go higher. Cat A COE will go to $70k by Jan 2015 while Cat B COE will go to $90k. Many are changing to new cars before the lunar new year.

HELLO. are you sure it will increase back or not?? There are going to be a tsunami of deregistration of 100,000 cars per year from 2015-2017. Are you sure everyone will bid $70k-$90k for it when the supply is abundant??

Originally Posted by Unregistered

I've booked my new car before getting the year end bonus to avoid the crowd at the end of the year. Since COE prices is likely to go up, esp the popular Cat A COE, it is best to buy now and secure the COE. Cat A COE is only $63k, this is cheap compared to the $100k in the past. Now, with so many people with high salaries and big bonuses, demand for new cars is very high. With high demand and limited road space, COE prices will only go higher. Cat A COE will go to $70k by Jan 2015 while Cat B COE will go to $90k. Many are changing to new cars before the lunar new year.

Many families today earn at least $100k pa, since most families are dual income households. A COE costing $63k to use for 10 years can be considered as cheap since it cost only $6.3k pa. This is only 6.3% of a household earning $100k pa. The main problem are those who buy expensive cars, beyond their means. They buy expensive models or conti cars which is beyond their affordability to maintain, in order to show off to their neighbors, colleagues and friends. A prudent buy is to get good quality cheap cars. You can get high quality Korean cars for $100k.

Originally Posted by Unregistered

HELLO. are you sure it will increase back or not?? There are going to be a tsunami of deregistration of 100,000 cars per year from 2015-2017. Are you sure everyone will bid $70k-$90k for it when the supply is abundant??

Price is determined by demand and supply. Even though supply of COEs expected to increase, demand will also increase as those who deregistered will want to buy a new car. On top of that, there will be people who previously do not have cars wanting to buy a new car. These are young graduate couples who earn a lot, families who have seen salaries increase and many more people want to buy a new car as a car not only provide convenience but it is also a status symbol. 85% of families live in HDB flats and since they cannot afford to upgrade to a condo, at least they can buy a new car to give them satisfaction of enjoying a luxury good. There are also families who made a lot of money after they sell their BTO flat (bought very cheap) after the MOP. They use part of the cash profit to buy a new car.

In the first Nov bidding, even though the Cat A COE supply was higher, price went up due to the strong pent up replacement demand. Many whose cars are 8 to 9 years old are already replacing with new cars before COE prices go up further.

Only time will tell right?

If you need to de-register your car, will you buy another? If yes, then likely the rest would also.

Each year there are many people owning car for the first time. So the 0.25% increase in car population will be absorbed by these new car owners.

The older folks suppose to retire at 55 and give up their cars. But they are neither retiring nor giving up their cars. Now they are even buying new cars at 55.

Families having 2 cars are becoming common because children start working and can afford their own, while family car still needed.

Unless got economic slowdown or crisis, I cant hope for COE to drop.

Originally Posted by Unregistered

HELLO. are you sure it will increase back or not?? There are going to be a tsunami of deregistration of 100,000 cars per year from 2015-2017. Are you sure everyone will bid $70k-$90k for it when the supply is abundant??

Originally Posted by Unregistered

Only time will tell right?

If you need to de-register your car, will you buy another? If yes, then likely the rest would also.

Each year there are many people owning car for the first time. So the 0.25% increase in car population will be absorbed by these new car owners.

The older folks suppose to retire at 55 and give up their cars. But they are neither retiring nor giving up their cars. Now they are even buying new cars at 55.

Families having 2 cars are becoming common because children start working and can afford their own, while family car still needed.

Unless got economic slowdown or crisis, I cant hope for COE to drop.

I think the recent surge is due to people rushing for CNY. The COE should drop more with more deregistration upcoming.

Look at the LTA website. Oct deregistration hit 2,080 for Cat A, the highest in recent year. I can't wait to see the COE slide with the increased quota!

://.lta.gov.sg/content/dam/ltaweb/corp/PublicationsResearch/files/FactsandFigures/M05-Dereg_by_Quota.pdf