Good morning buyer,
It's great hearing from you.
Maybe you can share more information with me so I can better advise you further.
Btw if you are a Singaporean purchasing a first residential property in Singapore, you will need an initial outlay of around 23% of the purchase price provided you can obtain a 80% bank loan (still subject to TDSR).
23% initial outlay will be:
1) 5% cash downpayment
2) 15% CPF downpaymemt
3) estimated 3% buyer's stamp duty
4) misc fees like legal fees, valuation fee, stamp duty for mortgage etc.
With around $200k cash and CPF, you should be able to afford a property worth up to $870k. But this figures are based on a SC purchasing first property, figures could change based on residency status (ABSD) or number of properties owned in Singapore.
Hope my explanation helps!
If you need any assistance in your property purchase, feel free to contact me. Cheers!
YT Tan
9111 5171
yt.lovelyhomes@gmail.com
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