5 Answers

John Tan 奕欣
Hi there Ms Lim!

You are in the dilenma of many Singapore singles who are affected by the HDB rules. Another 3 more years, you will be able to buy a HDB along with all the benefits, being it more affordable, taking advantage of the CPF grant, etc. Or taking advantage of the current soft market, enter the private market and hopefully, make a tidy profit when the market turn favourable to your advantage.

You have to be really careful about the HDB existing rulings and have to take note that every few years, there will be major or minor changes in the policies. Besides, you may meet another partner along the way, who knows? Then you won't have to wait till 35 to own a HDB.

In my opinion, if you are financially strong, it will be better off venturing into the private property segment in the long run. There are strong properties that are able to allow you to cover monthly mortgage after renting out. Of course, in the present market, it will be leaning more towards to a tenants'/buyers' market.

However, it comes down to a fundamental question of your objective, is this purchase more for your own use purpose or more for investment? This will greatly help you get started in your journey of finding the right property.

The following websites may be useful for you:

http://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/resale/single-singapore-citizen-scheme-or-joint-singles-scheme

http://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/new/single-singapore-citizen-scheme

https://www.ecitizen.gov.sg/topics/pages/mobile/topicsdetail.aspx?mpageId=229

Hope this helps!

John Tan YS
ERA Realty Network Pte Ltd
R012788H
facebook.com/johntys
powersginvest.com
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Ivan Ng
Hi,

I guess the key question to ask will be, is it worthwhile to enter the property market now vs 3 years later?
If you wish to venture into a private property purchase, it depends on how comfortable are your finances, what kind of objectives you are looking at (to secure retirement? or more of a milestone in life to have your own place) and your lifestyle needs. It is also an issue of your economic outlook, ie. how confident you are with your job prospects and also Singapore's economy (and by extension, the property market) for the next 5-10 years? Will be glad to share some of my personal humble insights if its convenient. Ideally, you should have some holding power (ie. need not sell during a downturn (if and when it comes), and just my humble opinion, ideally you should also invest in a growth region so after the 5-10 years, the project would probably have realized its capital appreciation potential. Thanks and hope to understand your requirements and have the opportunity to discuss further.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude
Email: Ivanng10@gmail.com
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Geryl Lim
Hi Ms Lim,

I would like to think that it all boils down to affordability. In all property purchases, you need to ensure that you have the financial means to sustain the mortgage repayment when unit is left vacant, therefore the very first step should be looking forward to assess your financial strength proper by the financial professionals. Have a clearer picture of the commitment level before deciding.

If all turns out positive, meaning it is comfortable to look into purchasing, I would say, take this opportunity to look for a decent purchase. We will not know if there will be any regulatory changes 3 years down the road which makes it easier or more difficult to purchase your first property, therefore continuing to wait simply equates to waiting for the unknown. If you have the capability to make a decision or take action now, why not do it now and make adjustments along the line as we progresses. There are just so many probabilities moving ahead now. Just my 2 cents worth of opinion.

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Regards,

Geryl LIM
Real Estate Director
Global Alliance - Masters Of Real Estate
M.O.R.E Property Pte Ltd (L3010548F)
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CK Ang
Hi Ms Lim,
If possible, buy one new launch now. More importantly, financially must be affordable. May I assist you to compute the estimate loan quantum then draw up the max budget.
To assist and advise you more in details, kindly drop me an email for me to share.

I am contactable at my mobile or email.

CK Ang
9046 3808
res.ckang@gmail.com Read More

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Tricia Tan 陈丽子
Hi Ms Lim
In today market, hdb prices are still dropping now. For pte properties, many buyers are taking advantage in this market, as there are many good buys out there.
If I were in your shoes, I will take this chance to invest in my 1st pte property and cash out once the market peak up after a few years.
Do give me a call or buzz at 91442664 so we can discuss offline from here. I would love to assist you through the entire process to kick off your property investment.
Look forward to hear from you.
Tricia Tan
9144 2664
Propnex Read More

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