Singapore real estate…
OK, buying an apartment in Singapore is a highly controlled affair. The Housing Development Board (HDB) controls what sizes of apartments are built, how many, where they are located, and who can buy them. So limiting, lah! But I just heard from my officemates that Singaporeans get a 2.6% interest rate, which my Singaporean friends think is too high! Permanent residents get 3%. Other people are stuck with market rates.
There are similar regulations in Malaysia. Very hands-on control of real estate and banking in this part of the world.
A Chinese friend says in Beijing it’s 7%. Everyone groans over this terribly high interest rate, which is lower than the US average over the last 30 years…
Just FYI.