I have some Australian and NZ friends in Tokyo who are earning Japanese yen. There is no question that now is a good time for them to send those dollars home whilst the AUD and NZD languish at 66Yen and 60Yen respectively. Another option is to buy property in the Philippines in coming months. The Philippines is a little different from Japan. Japan offers exceptional yields, but the Philippines offers better growth prospects given its reform trend, 2% population growth as well as land reforms.For Japanese retirees too, this is a good time to make a move to the Philippines. The Japanese pension system is returning a paltry 1% on Japanese bonds. That is where Japanese savings are stored by the Japanese Postal Scheme, not to mention US 'worthless paper' bonds, losing more value by the day. For Japanese savers, unless they have some valuable property in Tokyo or other cities, they are likely to be looking at retirement in the Philippines, or sleeping with other homeless under a subway bridge in Sumiyoshi, collecting garbage cans every day for extra money.
As the attached chart will show, then Yen is particularly strong against the peso. I would also argue its a good place for foreigners based in Japan, earning Yen to place their money, particularly the Canadians and Americans since their currencies are relatively strong against the peso. No point sending it home. Buy the end of the year you could have paid off an apartment.
I think Japanese property developers are soon going to wake up to the opportunity to develop tourism and retirement developments in the Philippines. Its not such a lifestyle change for many since the families are inclined to go home to the countryside once or twice a year to see family. Instead some will go to the Philippines. The Japanese will miss their culture, so some will want large developers to duplicate Japan in the Philippines. Already companies are looking at certain areas. Mayon Volcano might just be mistaken for Mt Fuji if some developers have their way. There is a proposal to establish an international airport near Legaspi City for the benefit of tourists.
-----------------------------------------------As the attached chart will show, then Yen is particularly strong against the peso. I would also argue its a good place for foreigners based in Japan, earning Yen to place their money, particularly the Canadians and Americans since their currencies are relatively strong against the peso. No point sending it home. Buy the end of the year you could have paid off an apartment.
I think Japanese property developers are soon going to wake up to the opportunity to develop tourism and retirement developments in the Philippines. Its not such a lifestyle change for many since the families are inclined to go home to the countryside once or twice a year to see family. Instead some will go to the Philippines. The Japanese will miss their culture, so some will want large developers to duplicate Japan in the Philippines. Already companies are looking at certain areas. Mayon Volcano might just be mistaken for Mt Fuji if some developers have their way. There is a proposal to establish an international airport near Legaspi City for the benefit of tourists.
Andrew Sheldon www.sheldonthinks.com
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