1. MONEY MARKET
• The official currency : Singapore dollar (sign: $;
code: SGD)
• Notes : SGD 2, 5, 10, 50, 100, 500, 1,000, and SGD
10,000.
• Coins : 1, 5, 10, 20 and 50 cents and SGD 1.
• The US ,Australian dollar, Yen and British pound are
accepted at major shopping centers and
restaurants.
• Exchanging money in some banks will be plus a
service charge on each exchange transaction at
about S$2 or S$3.
• Major credit cards are generally accepted American
Express, Diners Card, JCB, MasterCard and Visa…
2. CURRENCY DEPOSIT INSURANCE
• Wide choice of currencies: Choice of 10 foreign currencies: AUD, CAD, CHF,
EUR, GBP, HKD, JPY, NZD, RMB and USD (Foreign Currency Fixed Deposit
Account).
• The following Singapore dollar denominated deposits placed with a Deposit
Insurance Scheme member are covered:
– Savings account
– Fixed deposit account
– Current account
– Money in CPF Investment Scheme
• The following deposits are NOT covered:
– Foreign currency deposits
– Structured deposits
– Investment products such as unit trusts, shares and other securities
• Up to S$50,000.
3. EXCHANGE RATE
• Singapore has the highest trade to GDP ratio in the world at 407.9 percent.
(which is the sum of exports and imports divided by the gross domestic
product.)
• The Asian Dollars Market has since grown to a total asset size of more
than US$1 trillion.
• The trend appreciation of Singapore dollar over last decade has helped to
limit imported inflation in Singapore.
4. Persons per square mile : 18,645 (USA: 84)
Dominance of Housing & Development Board (HDB) in
housing
• Public Sector (HDB) from low income to upper middle
income groups – flats 82%.
• Private sector - 18%
Two financing systems in Singapore
• The HDB public finance.
• The commercial finance.
The majority of the home purchases in Singapore is
financed through the use of Central Provident Fund (CPF) -
The CPF is the Singaporean’s social security system,
providing pension, medical care as well as other schemes.
5. KEY INSTITUTIONS IN SINGAPORE’S HOUSING SYSTEM
HOUSING AND CENTRAL COMMERCIAL
DEVELOPMENT PROVIDENT BANKS, FINANCE
BOARD FUND HOUSES
• HDB Town Planning • Collects employees’ and • Provides market
employer contributions interest rate
mortgages to buyers
• Builds and sells subsidized • Members can withdraw funds • Make loans to
public housing (99 year for approved purposes, private sector
leasehold) including housing finance developers for
construction and
• Offers mortgage loans - up investments
to 30 years - 90% LTV - int
rate = CPF saving rate + 0.1%
= 2.6%
6. Govt loans, grant
PUBLIC HOUSING SECTOR (HDB)
HDB Public housing
Resale market
Down payment Direct
Mortgage payments purchase
Purchase of
govt bonds
CPF Contributions
House buyers
Down payment Market rate
Mortgage payments mortgages
Commercial
banks
7. PRIVATE HOUSING SECTOR
Developers Private housing
Loans
Contributions
CPF House buyer
Down payment
Mortgage payment Market rate
mortgages
Banks
8. WHO CAN BY PROPERTIES IN SINGAPORE ?
SUBSIDIZED NEW HDB direct sales ELIGIBLE CITIZEN
PUBLIC HOUSING HOUSEHOLDS
MARKET PRICE HDB secondary market CITIZENS AND
RESALE PUBLIC PERMANENT
HOUSING RESIDENTS (PRS)
Private housing market
HOUSES CITIZENS ONLY
APARTMENTS & Private housing market CITIZENS, PRS,
CONDOMINIUMS FOREIGNERS
9. PRICES Average – August 2010
PUBLIC HOUSING PRIVATE HOUSING
HDB flat condominium
3 Rooms 4 Rooms 5 Rooms Executive
(700 sq ft) (970 sq ft) (1,200 sq ft) (1,400 sq ft) > 2,000 sq ft
213,860 (USD) 276,550 (USD) 329,755 (USD) 407,070 (USD)
More than 750,000
(USD)
