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Hi Gurus,

Currently I am staying in a 5rm HDB flat. My family have stayed here for more than 5 years. The last transacted price listed in HDB was about $430k. I have about 100k cash. We would like to invest in property so that our money would not shrink due to inflation. We like the 5rm flat very much and would like to retain it if possible.

Any suggestions for us to invest in property? We are also open to purchase commercial properties.
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1 Answer

Mike Lim
Replied
Afternoon GB,

Since your family have stayed in the unit for more than 5 years, you would hav fulfilled the MOP, regardless of whether you took a grant or not. Under the current ruling, your family have the rights to purchase second property and still keep the current property.

FYI
Mike Lim
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  • GB
    Replied
    Hi Mike ,

    Thanks for advise. Currently we still have outstanding mortgage with the hdb flat. With the understanding we have now $100k cash - what kind of property can we buy? How much can we borrow from bank to buy the property? How much downpayment of this property we need to pay? And is the current climate good for buying properties? Hope you can advise me , thanks!

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