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Buying a condo in Singapore

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nakulchawla
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Buying a condo in Singapore

Post by nakulchawla » Wed, 30 Dec 2020 11:17 am

Does it make more sense to buy a condo in Singapore rather than to pay rent to the landlords?

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PNGMK
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Re: Buying a condo in Singapore

Post by PNGMK » Wed, 30 Dec 2020 5:59 pm

No. (Hint I'm a LL).
I not lawyer/teacher/CPA.
You've been arrested? Law Society of Singapore can provide referrals.
You want an International School job? School website or http://www.ISS.edu
Your rugrat needs a School? Avoid for profit schools
You need Tax advice? Ask a CPA
You ran away without doing NS? Shame on you!

the observer
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Re: Buying a condo in Singapore

Post by the observer » Wed, 30 Dec 2020 6:24 pm

Rental yields typically can’t cover the maintenance fees + installment, if purchased at current market prices. (condos)

From that view point, it’s cheaper to rent instead of buying.

ie if it’s not for my own stay, I won’t make any money buying a property to earn yield.

However, if you have a view that asset prices will continue to go up due to inflation and a rising population + limited land supply, then buying would make sense. Especially if it’s for own stay, coupled with 1% mortgage rates.
If the view is wrong, get ready for a very painful mtm valuation.

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Max Headroom
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Re: Buying a condo in Singapore

Post by Max Headroom » Thu, 31 Dec 2020 11:31 am

I reckon renting, especially given the pretty hefty property overhang still looming.

Add to that a prolonged exodus of EP peeps, courtesy of Covid.

Oversupply of Units + Departure of Expats = Plunging Rents.

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abbby
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Re: Buying a condo in Singapore

Post by abbby » Sun, 03 Jan 2021 7:55 pm

I think buy if you can find one condo with potential capital appreciation, especially those which are undervalued. Newer condos might appreciate but minimal and slow climb. Rental yields here are typically low like 1.5%- 2% on average..difficult to find yield of 3% because of the appreciating sale prices.
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thismyvoice
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Re: Buying a condo in Singapore

Post by thismyvoice » Wed, 13 Jan 2021 8:07 pm

Are you American? Citizens from some countries do not need to pay the Additional Buyer Stamp Duty.

Is your company paying for the rental? Do you expect to be in Singapore for a long time? If your company is footing the bill, it is as good as the company paying your mortgage.

Just some thoughts.

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