4 Answers

Hi, judging by your income, it will be awhile before you can afford a housing unit to consider your own. Here are several pointers which you can take note before beginning on a property journey in the future. I will be using HDB as an example in these considerations as it is the first property for most people.

1) Eligibility to purchase house
In order to qualify to purchase an HDB, you need to fulfil the criteria for them, if you are planning to purchase one at an early age, you will have to purchase it with your parents or get married before you can purchase with your spouse.

2) Downpayment required
for HDB loans, the loan to value amount is 80%, in which you will need a total downpayment of 20% to be paid in either cash or CPF. Assuming a house valued at $400,000, that will be $80,000. CPF Housing Grants can be used for downpayments, however you still need a minimum of 5% cash or CPF.

3)Loan Amount
The repayment is capped at 30% of your monthly income with a maximum of 25years, which will go to about $126,500

So if after all the calculations and eligibility you can qualify to purchase a housem congrats!

Hi, hopefully you managed to get your doubt or query answered. If, so then congrats! Hopefully you are doing well now.

If you are currently or planning to find a property agent, I can assist.

If you are interested in prices of houses in your neighbourhood, you may visit this website to find out more or contact me .


If you are currently planning to go on a property journey selling/buying/renting/investing, I can be of assistance. Do feel free to reach out to me for more queries and assistance.

Landon Chew
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Owning property in Singapore, especially at a young age, can be challenging with a $2,000 basic salary. Here's a breakdown of the situation:


High Property Prices: Property prices in Singapore are notoriously high. Even HDB flats, which are heavily subsidized by the government, can be quite expensive, especially for young individuals.
Loan Eligibility: Banks typically require a minimum income for mortgage approval. With a $2,000 basic salary, it might be difficult to qualify for a significant loan amount.
Possible Options (with considerations):

HDB Flats (Build-To-Order): This is a possibility, but the waiting time for BTO flats can be several years. Additionally, eligibility for certain BTO flats may have income restrictions.
Executive Condominiums (ECs): ECs are a hybrid between public housing and private condominiums. They are generally more affordable than private condos but come with stricter eligibility criteria and ownership restrictions. However, qualifying for an EC loan with a $2,000 salary might be difficult.
Here are some additional things to consider:

Future Salary Growth: If you expect your salary to increase significantly in the coming years, then property ownership might become more feasible in the future.
Co-ownership: Consider co-ownership with a friend or family member who also has a stable income. This can help you qualify for a bigger loan and share the financial burden.
Financial Planning: Carefully assess your overall financial situation. Factor in your living expenses, debts (if any), and savings before considering property ownership.

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like renting / selling, buying / or investing, I'm here to help!

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From: ABLE Toh- Your Property ASSISTANT :)

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Dear sir/mdm,

On salary alone, your loan eligibility may not be promising, thus you will need to rely on existing funds like cash and CPF to see if there is any choices available. Are you planning to purchase under single ownership? If yes, you will only be eligible to consider private property.

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,
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1) It is always a dream for most of us to own multiple properties in our lifetime.
2) It is because property comes along with capital appreciation and passive income that would allow us to retire comfortably.
3) However, you need a lot of resources to achieve such a goal. It is possible you are able to get resources from your parents/grandparents.
4) Without such resource support, it will take a long time or even a lifetime just to own a single property.
5) This was the main reason why our government came out with HDB to help most of us to just have a roof over our heads.
6) The fastest way for yourself to get started with your property journey at your income would be to find a life partner to apply for a BTO.
7) The current cheapest private residential property with a reasonable lease is already over $640k in a rural area.
8) To buy a private residential property at $650k, you must have the following resources (money):
a) Down payment: 25% ($32.5k in cash, $130K in cash, and/or CPF)
b) Buyer stamp duty: $14.1k cash
c) Legal fees: $2.5k~$3k
9) To be able to receive bank support to loan 75% of the $650k property, you must be earning around $4.65k monthly.

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

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
https://www.linkedin.com/in/ckling/ Read More