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Hi,
You are legally eligible to buy a property. But for single buyer HDB isn't an option at your age. Do contact me at 94513474  for more details.

Regards
Don Sidhu
 94513474  Read More

Hi,

1) I like to highlight that you're very smart. It is not easy for someone so young to start thinking of using a fixed asset to assist in financial planning.
2) MAS has clamped down all speculation as much as possible on the property. This is to ensure no one is over-commit in a property, and at the same time to ensure there is no bubble built on the property market.
3) They are using MSR (for buying HDB and new EC) and TDSR (for buying private property) to assess the amount of loan a person could get based on their income.
4) In your case, the maximum loan for buying:
(a) HDB is $126k, max loan tenure is 25 years.
(b) New EC is $138k, max loan tenure is 30 years.
(c) Private is $253k, max loan tenure is 30 years.

5) You have to work on increasing your income for the next 10 years to get higher to help increase your capacity to leverage on the financial institute loan to realize your dream.
6) The loan tenure will not change until you past 35 years old.
7) The current loan tenure is up to the age of 65. Therefore, you will still be able to get the maximum loan tenure at 35 years old.
8) The alternative is to find a life partner soon to buy an HDB flat and upgrade from there.

Please give me a thumbs-up if the answer provided is relevant to your main concern. Thanks!!!

I hope the above answers your main concerns, but if there are more queries, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
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You are of legal age to own a private residential property in Singapore, if you are able to secure the necessary finances to purchase this property. While you have an active income, the loan that you are eligible for maybe insufficient for you to secure a private residential property therefore bulk of the finances should come from ready cash and CPF combined.

Have you done up your financial assessment to plan for this home purchase?

I have been in the real estate business since 2009, with more than 14 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
Associate Group Director
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
 +65 92787772 
www.geryllim.com

My self introductory video on https://www.youtube.com/watch?v=S_2NydENfx0

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Hi,

The legal age to own a property in Singapore is 21 years old. Hence, you're eligible to purchase a property.

Next step, have you worked out on the finances to own a home?

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile +65 97 48 63 05. I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
+65 97 48 63 05
PropNex Realty Read More

My Answer with regards to your Question:

In Singapore, there are eligibility requirements for buying a house (HDB flat) that depend on citizenship, age, and income. Here's how your situation looks:

Age: The minimum age to buy an HDB flat from the open market (not from parents) is 35 years old. Since you are 22, you wouldn't currently be eligible based on age.

Income: While there's no minimum income requirement, having a stable income demonstrates your ability to afford loan repayments. Your monthly income of S$2,400 might be on the lower side for loan eligibility.

Here are some options to consider:

Wait until you meet the age requirement: This might be the most straightforward approach. In the meantime, focus on building your income and savings to strengthen your financial standing for a future purchase.

Explore co-ownership options (after age 35): Under the HDB Married Couples Scheme or the Singles Scheme (after 35), you can co-own an HDB flat with eligible family members or partners who meet the age and income criteria. This can help you combine incomes and potentially qualify for a loan.

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