Dear friends,
I am a SG PR (32 years old) and would like to know whether I'm eligible to buy a condominium in Singapore? I am quite new to this topic and have limited knowledge. Could you please help me to answer the following questions?
Let's say the condominium price is SGD$1,000,000.
1. Can I apply for 80% bank worth 800,000?
2. Can I use my CPF to pay the remaining 20%? (If so how much I could clam from CPF?)
3. How much cash do I need to have on hand to pay the initial amounts during the purchase?
4. How much do I need to pay monthly after purchasing?
5. What will happen if I miss a monthly payment? (Or a couple of payments?)
6. What is the difference between freehold and 99-year lease? (If I buy a house with a 99-year lease, do I lose the house after the lease?)
7. While most of the condominiums are quoted in millions, why some of them are relatively very cheap?
(ex: I found some condos between 200,000 - 350,000 https://www...com.sg/singapo ... &order=asc)
Appreciate your help!
Thanks a lot.