Singapore : My Country, My Home 🇸🇬❤️

I am proud to call the little red dot, Singapore,as my home not just now but for many many more years to come. 

Besides being one of the safest countries globally, Singapore is also an open economy that imports heavily due to the lack of natural resources. For example, Singapore had to import over 90% of its food. As a result, Singapore is also subjected to the inflationary pressures just like the other countries. 

The rise in prices of food and necessities is prevalent in Singapore, albeit it being less severe than the US and Europe region. Singaporeans are fortunate that our competent government has established a diversified food supply chain to ensure a robust and sustainable prices as well as quality. MAS (some may refer to as Singapore's central bank) also strengthened theSingapore dollar through its monetary policy to combat inflation since Singapore relies heavily on imports. 

However, there are other 2 major components have skyrocketed during the last 2 years. If you guess vehicle and housing, yes you are absolutely right! 

For those unfamiliar with the licensing requirements for vehicle ownership in Singapore, all buyers (car or motorbike) are required to purchase the right to own a vehicle, otherwiseknown as Cerificate of Entitlement (COE). Just COE for a car (1600cc & above) would have costed you S$113k in Singapore. This doesn't even include the physical cost of the vehicle, which is also subjected to tax as well. 

As for housing, the rise in private and public (or HDB) houses have been astronomical. It is not difficult to notice that resale prices for these 2 housing have risen more than 20%-25% over the last 1 year, and this is the largest "investment" for most Singaporeans. A 4-room public housing in a mature estate with convenient amenities and location can cost over $600kin the resale market. In fact, there has been more cases where resale public houses have crossed the S$1M mark. 

While inflation is a major headache for most Singaporeans, we are blessed with a safe country and competent government that has provento alleviate the macroeconomic challenges better than many other countries. (Well, at least we are not facing a 8%-10% inflation compared to US or UK for example). 

Furthermore, with $Tiger Brokers(TIGR)$ offering competitive fees and fantastic investment/trading features, it better equips fellow Tiger friends to combat inflation and build our wealth in this challenging environment. Of course, the sharing of ideas and insights among friends such as @LMSunshine , @koolgal , @SR050321 , @DiAngel ,@HelenJanet , @MHh , @melson @SPOT_ON  etc play a critical role as well. 

May 2023 be a blessed, healthy and profitableyear for all my Tiger friends! [Grin] [Heart] 

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