QUOTE(CognitionCycle @ May 12 2010, 03:38 AM)
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?
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 Added on May 12, 2010, 9:13 am
QUOTE(SPS @ May 11 2010, 07:29 PM)
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!
you 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 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!
This post has been edited by Mackiddo: May 12 2010, 09:13 AM
May 12 2010, 09:06 AM

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