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Hi,

We are Singapore PR married couple. We can't purchase HDB as we do have property in Malaysia.

Hence, in order to purchase a private residential unit, for example a small unit cost about SGD600K. May I know roughly how much (minimum) cash and savings in CPF that we should have?

Appreciate if guru here can help to advise.
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3 Answers

Hi,

Typical breakdown for SPR 1st property:
Cash 5%
Cpf 15%
Max bank loan 80%
Stamp duties and legal approx 8%

Hence you need at least about 168k cash+cpf to secure a unit. Thanks and hope to assist with your plans 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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Hi buyer,

To put things in perspective,

Cash: 5% downpayment + 5% ABSD = $60k
CPF (if sufficient): 15% downpayment + 3% for BSD & legal fees = $108k
Bank loan: up to 80% depending on your income and other debt obligations

Hope this is clear.

Feel free to contact me so I can assist you to find good units, and also get a banker to assess your loan eligibility.

Thanks and regards,
Teck Chuan, Ng
BBA (Finance), NUS
ERA Realty Network Pte Ltd
Mobile: 9137 4602  Read More
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Hi Sir,

This is the estimated outlay for a 600k property:

Cash
a. 5% of Valuation - $30,000

CPF
a. 15% of valuation - $90,000
b. Legal Fees of $2500 to $3000
c. Normal Stamp Duty - $12,600
d. Additional Buyer Stamp Duty - $30,000
Total: $135,600

Please feel to contact me so that I can provide you with further assistance.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nicktan@propertyavenue.com.sg / nick96444854@gmail.com
(W) www.nick-tan.com / www.propertyavenue.com.sg

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