Singapore Property Feature: Botanique at Bartley

Just doing another property feature for one of the latest condominiums to be launched in Singapore -  Botanique at Bartley.

Developer: UOL Overseas Investment
Leasehold: 99 years
Location: Situated near Upper Paya Lebar Road and Bartley Road
Completion: mid-2018
Number of units: 797
Prices:
One bedroom - from S$598,000
Two bedroom - S$798,000
Three bedroom - S$1.16 million
Prices are slightly under S$1,300 psf

Highest Bank Account Deposit/Interest Rates in Singapore ( Updated 19 March 2015)

Just compiling a list of the highest bank account deposit rates in Singapore currently. Might have missed out some so do feel free to leave a comment if you know of any other accounts that offer high interest rates. Do also note that these are not like-for-like comparisons so one is advised to assess which is best for your own purposes.

1. POSB - 1.88% per annum

POSB is now offering a promotional interest rate of 1.88% for 12 months. You simply need to register before the end of February 2015, top up your chosen savings account between $1000 to $1,000,000, and maintain that amount within your savings account for the next 12 months to get the 1.88% interest rates.

2. Maybank - Singapore Dollar Time Deposits (Up to 1.55%)

Maybank has a time deposit ranging from 12 months, 18 months and 24 months. For amounts greater than $25,000 but less than $50,000, you can earn 1.10% (12 mths), 1.18% (18 mths) and 1.28% (24 mths) respectively.

For amounts above $50,000, you get 1.35% (12 mths), 1.45% (18 mths) and 1.55% (24 mths) respectively.

3. OCBC 360  - 3.05%

This is not a fixed deposit account. It offers a base interest of 0.05% and gives a bonus 1% interest when you credit your salary, pay 3 bills and spend $400 on your credit card. Works for some people who are able to fulfill all these criteria.

4. OCBC Bonus + Savings Account

As stated on OCBC's website, "All funds in the Bonus+ Savings Account enjoy a monthly base interest of 0.05% p.a. If no withdrawals are made, the interest rate will be 0.60% p.a. for 2 months and 1.15% p.a. for the third month. If no withdrawals are made in the quarter and there is minimum $10,000 fresh funds deposit, the interest rate will be 2.35% p.a. for the third month. The maximum effective interest rate for the account will be 1.18% p.a." The diagram above also shows how the bonus interest rates work. As long as you do not withdraw any amount for the quarter and deposit fresh $10,000 in funds, you will be entitled to the bonus interest rates. Terms and conditions apply.

Singapore Property Feature: Commonwealth Towers

Commonwealth Towers is a new development that is located just beside Queenstown MRT. It features 845 residential units and will comprise of two 43-storey towers.

Prices are as follows:
One bedroom unit - From S$780k
Two bedroom unit - From S$1.18 million
Three bedroom unit - From S$1.42 million

Just recording down this information for future reference.

Here is the advertisement from today's newspaper.

Commonwealth Towers advertisement from Straits Times on 7 March 2015

Definition of Success - A Good Reminder

As I was flipping through the NTUC lifestyle magazine during my visits on the first day of the Chinese New Year, I came across this quote that was quoted by Tommy Wee.

A very good reminder indeed to redefine what success means.

Holland Village Nasi Lemak

Nasi Lemak with achar, egg, long beans and the usual suspects.

After reading a review about how somebody felt cheated eating a plate of Nasi Lemak that costs $7.50, I decided that it is timely to share about one of the more reasonably priced nasi lemak that I know of. This is found at Holland Village Katong Laksa stall. It is located at one of the shophouses near Sushi Tei and the ramen place. They have recently renovated the place and you can easily self-order using an ipad, collect your electronic buzzer (which buzzes when your food is ready). Payment is made when you collect your food. What is great is that you get to customise your own nasi lemak and choose the ingredients that you want.

Economics Explained in Thirty Minutes by Billionaire Ray Dalio - Time Well Spent Watching this Video

This 30 minute video by Ray Dalio explains how the economic machine actually works.  Spend the next 30 minutes watching it and I assure you that you won't regret it.  Beats any Economics module offered in the universities.

Simple secrets to building wealth

There are probably tons of books written on how one can get rich or become wealthy. Yet, the secret to building wealth is probably much simpler than most people can imagine. If I could choose three words to describe it, I think the appropriate words would probably be "income", "invest" and "persistence".

Firstly, without income, it is very difficult to become wealthy. The only instances one does not require income is probably if you have a large inheritance or you are starting a business (when you have the intention of selling it). At the end of the day, one cannot accumulate assets if one does not have income.

Secondly, one will need to invest.This can be in any instrument. But the idea is that you are only able to invest if you have money left over from your income after taking into account all your expenditure. In most instances, one is able to invest only when spare cash is available.

Lastly, it boils down to persistence. spending money today always seems more tempting and rewarding then saving it for a rainy day. This is especially so when instant gratification seems to be a large part of our culture today. We rather be seen with a Starbucks coffee in hand rather than saving that money and investing it. This is an everyday battle where our heart will tell us to spend when we really ought to be saving. In addition, one also needs persistence to continue saving and investing even when the markets are bad. This is probably very hard since we are all probably wired to try to avoid risk and danger. But the best time to buy is probably when the market is in its doldrums.