Condo or private apartment are normally far from MRT and facilities, so car is normally a necessity. Wow... then, up to $SG5,000 of my monthly salary gone leh... just for home and car. How to live May have to consider another part time job, and must get a capable wife I already got an adjunct lecturer position now, don't think I could find another job also.

I just got to realise from you that I don't need a GF or Singaporean wife to buy private condo and apartment. That's good. I may consider that

This post has been edited by CognitionCycle: May 11 2010, 05:32 PM

First off, you can't purchase through a Singaporean "girlfriend" - both of you need to be legally married. Alternatively, you and your spouse need to be Singaporean PRs in order to purchase a HDB resale flat.

Also, your housing loan downpayment of SGD20K is far below the minimum required amount to secure a purchase of a SGD650K flat.

Banks require a MINIMUM of 20% of the VALUED price of the flat which in this case would be SGD130K. Moreover, valuers will always value flats at a price level which is below what the sellers demand, for example a seller might demand SGD650K for his resale flat but the valuer puts it a value of SGD600K. The difference is called a Cash-over-value (COV) in local jargon and must be paid in cold, hard cash (it will not be financed by any banks). This would mean a total cash outlay of SGD130K (downpayment) + SGD50K (COV) = SGD180K.

I haven't included the legal fees, stamp duty and the inevitable renovation costs.

Thanks for the advice.

Wow... that's not easy man. SG$180k as down payment for a decent HDB! I said decent because anything less than SG$500k I consider very small and old, correct me if I'm wrong. I have seen before a unit in Dover at SG$500,000, it is very small four-room flat (3 rooms), I presume about 90m^2.

Anyone please advise how to survive in Singapore leh?!

90 sq metres is considered an average sized unit in Singapore. 5-room units which are 30 years old and barely 100 sq metres (and also needs renovation of at least SGD20-30K) in better locations like Queenstown, Redhill and Tao Payoh are selling for SGD700-800K!

Decent-sized condos (100 sq metres and above) at these locations are going above SGD1 million.

Unlike Malaysia where the property market is relatively quiet and stagnant, Singapore has a runaway property market with locals and foreigners (particularly Chinese nationals) continually buying and selling properties in an ever-increasing spiral where prices of condos can rise 20-30% in a mere 12 months!

can't compare HDB with your malaysia house. Many people are living in 3-room, 4-room flat. IMO, an extra "room" does not make you feel much better. It is still a flat! But the price different for that extra "room" can buy you a double storey house in malaysia.

can't just judge a unit by its price tag.

SG is not that big. There are many condo near MRT, sure have near by bus stop. Bus system here is good enough.

$500k for a decent HDB? I can't imagine I will buy at that price.

k, if you still wanna buy. Remember! buy those with lift at your level and "upgraded" with a utilities room. Don't buy relatively new flat that have potential to get "upgraded" in a few years time.

version 3a? good job TS.. dunt work there but go there for business trips few times a year, office at raffles place.

Hello, me working in Singapore reporting in V3a.

working at ibp j.east... staying at cck/bishan

haha..nobody want maintain..nvmz la..i got spare time for the time being i create lo

Jurlique, alaskanbunny..updated both of u at 1st post.

wah boss u came over to the dark side also hahaa

welcome bro




v3a so next one v3b?

@Lester - reply to feedback on http://forum.lowyat.net/index.php?showtopi...post&p=33630959
Thanks for debit card suggestion. Yeah I have another option to consider now
Anyway, just curious which debit card has the best rebate in terms of higher $ rebate /or/ more options to get rebate?

@tyj82 - reply to http://forum.lowyat.net/index.php?showtopi...post&p=33634308
Pardon me, Nets = payment via ATM card?

@Mackiddo - reply to http://forum.lowyat.net/index.php?showtopi...post&p=33643108
Considering we earn SGD, is it cheaper to buy groceries in Msia and bring back to SG?
What are the cost differences if we include & excludes travelling expenses from SG to JB? Overall, which option is cheaper?

@kockroach - reply to http://forum.lowyat.net/index.php?showtopi...post&p=33651679
Thanks for your feedback

Shit... any advice how to finance property in Singapore? Seems to me monthly salary SG$5,000 also not enough. But then average household income is less than that. So, how does the middle income group survive in Singapore?

If i not mistaken the median household income around 5k. Alot of singaporeans who dont earn that much can survive, that means no eating out very often, no splurging of luxury goods, no holiday etc etc. But they still have a roof over their heads and food on the table, but for some people, that isnt surviving.



This post has been edited by crapp0: May 12 2010, 08:17 AM

any planned gathering?

Why not planned for world cup. All go hang out at coffee shop and buy a couple rounds of tiger.

there is no guarantee you will make money from private property but you will definitely make from hdb flat. that's the main reason i went for the 5-room resale flat. my loan payment 75% cover by cpf and the 25% i'm paying is much lower than the amount you pay for renting a master room ..so buying hdb flat is better than buying shares

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Added on May 12, 2010, 9:13 amyou can scout for area like bukit panjang. think thats the cheapest location for a hdb flat. 5 room flat cost around SGD$350k ? so 20% will be SGD$70k + COV around SGD$15k + legal and agent fees SGD$10k ? = SGD$95k, excluding renovations

This post has been edited by Mackiddo: May 12 2010, 09:13 AM

Add me to the list, should be starting new job in Jurong East, staying in Chinese Garden area temporarily.

AMK is LKY son's constituency leh. LKY stays in 6th Avenue.

Singaporeans can purchase new flats at much lower prices (SGD200-300K) which is off-limits to the PRs and foreigners. Also, they can obtain subsidy grants on home purchases.

And there is no necessity for a car so they can get on pretty well - in fact, the average Singaporean enjoys a much better lifestyle compared to the average Malaysian.

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Added on May 12, 2010, 10:12 amDefinitely. In fact, it works out much better for PRs than for Singapore citizens provided the PRs who have purchased resale flats intend to retire back in their home countries in the future when they can monetize their flats and earn a bundle. A conservative guesstimation would be a rise in value of at least 60% more than what you paid for your entire loan package (purchase price + home loan interests + conservancy charges + maintenance works) to the time you dispose of it 20 years down the road when you retire.

This post has been edited by SPS: May 12 2010, 10:16 AM

v3a is to replace the '4' next version will be 5

erm...suggestion...i will only be around in sg june

hehe..coffee shop open till what time?

added you to 1st page.

anyone mind to explain the EP procedure?..after my hr submitted the application...she say i have to go MON to get the EP...is it there will be another round of interview at MOM? mean when i move to SG i will have to use the white card 1st?...then later have to go back to custom after 1month..?

well depend on ur in principal required medical check up or not
if not then just need to go online book the time and submit the required documents eg photos which u can take at EPSC
then wait 1 week, go back to EPSC collect ur EP.

gathering place should be convenient for the rest rite.
McD open 24hrs better la