Hi Jays,
From investment perspective, it is always not the brightest option to consider HDB, for it is a leasehold property and for Singles Scheme, we are probably looking into a resale unit where age could be a negative factor for future resale. In addition, you will be tied down by the 5 years MOP before you are able to actualise any prospective gains, yet unit is ineligible to be rented out for rental gains.
With a $7k monthly income, it would be good if you can explore more of the single bedrooms or studio units available for sale. If you have read the papers this week, an below 30 years old investor secured a freehold shoebox apartment in an excellent location with about price in excess of $500k. Speak to a banker perhaps to ascertain your loan eligibility and how much you can leverage on loans to secure your $400k returns from the investment after liquidation. One aspect I would like to highlight will be that given the current saturated market, to look at $400k investment returns upon liquidation will be a pretty tall order. You may wish to look into diversifying your investment portfolio to reap the most efficient returns at the lowest possible risks.
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Regards,
Geryl LIM
Real Estate Director
Masters Of Real Estate
M.O.R.E Property Pte Ltd (L3010548F)
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