Asked by John Tangue
Hi, I'm from Australia and had been working in Singapore for the past 3 years.
I want to buy a condo unit for Personal stay and if it has investment potential, I would like to get another unit. Any good recommendation which I can get a good ROI (after all the liabilities/expenses)? In Orchard Area or any area you would recommend for investment?
I'm quite confused with the payment.
To what I know from my friends is:
1) If new project under construction, I can get 80% loan from bank but I need to pay 20% upfront first?
Which means if I buy a $1million property, I need to have $200,000 Cash?
2) As for 2nd hand apartment, apparently from my friend is 5% cash is needed for upfront, but as loan from bank is only 80%, would it means I need 20% cash for payment?
I want to buy a condo unit for Personal stay and if it has investment potential, I would like to get another unit. Any good recommendation which I can get a good ROI (after all the liabilities/expenses)? In Orchard Area or any area you would recommend for investment?
I'm quite confused with the payment.
To what I know from my friends is:
1) If new project under construction, I can get 80% loan from bank but I need to pay 20% upfront first?
Which means if I buy a $1million property, I need to have $200,000 Cash?
2) As for 2nd hand apartment, apparently from my friend is 5% cash is needed for upfront, but as loan from bank is only 80%, would it means I need 20% cash for payment?
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