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Good morning Sir/ Mdm,

Welcome back soon!

Let me share one of my recent cases.

My clients just sold their private property, they asked whether should they buy a resale HDB now or rent first and wait for the property market to cool down.

Sounds same as you?

Rental market in Singapore is boiling hot at the moment due to construction progressing at a slower pace compared to pre pandemic levels.

If you spend 1 to 2 years of rental and the property market doesnt cool down as you hope so, the rental outlay that you will be paying will be helping the landlords to pay for their mortgage. It also means that you might lose a portion of cash savings that could go into your house financing or renovations. So it will good to discuss among yourselves before proceeding with any option.

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
Property Kaki
You dream. I create. We make it happen!
Association of Chartered Certified Accountants Graduate
Singapore Accredited Mortgage Planner

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Not too sure on the rationale to wait out for market to cool since the rise in price might be more significant than the cooling down in price, and moreover, you will still be paying interest to the loan. Why would you intend to take up a housing loan in this instance if you are able to clear the purchase with existing CPF and cash?

I have been in the real estate business since 2009, with more than 13 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
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
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Good morning,

If I am in your shoes, I would purchase first as the rentals are on the higher side now and there's no guarantee that the market prices will moderate in the next 1 or 2 years as Singapore property market as shown its resilience for many years with strong government monitoring and proactive urban planning and renewal. The rental expenses can be utilized for your renovation expenses instead, and after a 5 year MOP period is met, you can plan again from there where the employment situation would likely have stabilized.

Another way to get some form of bank loan is if you have other assets to pledge such as fixed deposit or mutual funds or currencies in the bank beyond the amounts set aside for housing. That could help as well. Happy to share more on that approach.

May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
ERA Diamond Achiever

SEAA Salesperson Achievement Award 2021 (Gold)
SEAA Singapore Accredited Mortgage Planner (SAMP)

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SMU BBM (Finance), Magna Cum Laude
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Hi,

1) Your major concern as of now are as follow:
(a) Buy by draining everything you've saved for the past years.
By looking at the funds you have, you may get a 4/5-rm flat for around $550k, considering paying the stamp duty, legal fees, and all accessories fees.
Though the location might not be the best of your choice this is achievable.
(b) Renting and waiting: This is also an option since you should be able to find a job in the near future. And you would be able to get a loan from the HDB if eligible or from the bank.
The loan you need would be quite minimal since your saving would be able to pay for the majority of the cost of the flat you wish to purchase.
By going through this route you could have the choice of wherever location you deem for.

2) You should set a timeline to decide when is the deadline to go for option 1(a). I would suggest 6~9 months should be reasonable.
3) Renting in a long term is not recommended as you are helping others to pay their mortgage instead of yours. Especially when the rental rate keeps raising.
4) The market will definitely cool down after a period of time except that we also can't time the market when it will cool down. But expect this will not happen in the next 6 months.
5) As we can see that the price index has been gaining for the last 2 years and is still ongoing. Though the transactions have just fallen slightly compared to last quarter.
6) You have to understand that even when the market cools down it doesn't mean the price will drop. Usually, it is the price index will not increase as much as before but it will remain to creep upwards.
7) This will be like that as long as our country's economy is growing. The property market will continue gaining from the growth of our country.

Hope the above answer your main concerns, but if there are more query, 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/
https://www.facebook.com/Homesellerbuyer

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Hi,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, it is advisable to purchase a flat now since you mentioned that you have sufficient CPF to clear most of it.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More