Discuss about where to live, renting a property, tenancy issues, property trend and property investment in Singapore.
-
Wd40
- Director
![Director Director]()
- Posts: 4671
- Joined: Tue, 04 Dec 2012 10:53 am
-
Answers: 1
- Location: SIndiapore
-
Quote
-
0
login to like this post
Post
by Wd40 » Sun, 29 May 2016 9:51 pm
PNGMK wrote:BBCW: Do you know if it is possible to pay back the CPF monies used for
property without actually selling the property associated with the CPF monies? I can't find an answer to this on the CPF website strangely (the advantage is that an individual could remove any CPF claim to sale of the property in the future by repaying any monies used - it's something I've thought about for some time).
One final comment on the property and age scenario - apart from Japan which allows mortgages to be passed onto descendants I see a real problem developing in Australia (and the UK) where young people simply can't get into the property market in time... saving a 10% or 20% downpayment and then taking on a 35 year mortgage needs to happen quickly if they want to be able to pay it off before retirement. Too many people missing out and now trying to buy post 40.... which leaves less than 20 years available for repayment (in Australia and Singapore banks do not extend mortgages past the age of 65 AFAIK).
If you plan it really well, you should be able to buy a property with straight cash. I am 36 yr old now and my networth with is entirely liquid fixed deposits and mutual funds is equivalent to $600k SGD. If I was a Singaporean, I could buy an EC 3 bedroom for full cash. It is even more cheaper in the UK(outside London) and in Australia. If people cant save at least 50% for a down payment in their 40s, something is really wrong with them. I am not even a big earner. I earn 100k a year and save 50k.
Sent from my Redmi Note 2 using Tapatalk
-
-
By what age must Kids PR be renounced to avoid NS penalty
Replies: 7
First post
Hi all,
Apologies if this has been discussed previously - i couldn't find the answer on threads.
My family are all PR and our male son is turning...
Last post
Hi all,
Many thanks for the feedback! Just to confirm, my son is a PR and holds citizenship of another country
Thanks x9200 - your post correlates...
- 7 Replies
- 22306 Views
-
Last post by tuskarrock
Thu, 25 Mar 2021 11:40 pm
-
-
ve visitedving to Singapore Long Term - what happens when you hit retirement age?
Replies: 4
First post
I am an IT Manager who has been advised that there is demand for my skills and that I could do reasonably well in Singapore.
I must add that my...
Last post
Yes. At least one minister has said that this is possible. We have at least one PR on the forum who is doing this right now. My understanding is that...
- 4 Replies
- 5305 Views
-
Last post by PNGMK
Fri, 05 Aug 2022 10:00 am
-
-
Is there a RETIREMENT AGE in Singapore?
Replies: 5
First post
Is there a retirement age? If so, what is it?
Last post
This is why so many people try to get a retrenchment package in their late 50s , early 60s and then move on to another project or job until their CPF...
- 5 Replies
- 5194 Views
-
Last post by PNGMK
Thu, 11 Aug 2022 9:03 am
-
-
PR at the age of 50
Replies: 3
First post
Dear Forum Members
It’s been 12 years for me and my family living in Singapore. We are Indians BTW, a family where I am on employment pass, wife is...
Last post
Did anyone get their Pr at the age of 50 in Singapore?
But it wasn't hassle free to be sure. Not 50 but 47. But also a long time ago (1995).
- 3 Replies
- 1951 Views
-
Last post by sundaymorningstaple
Tue, 13 Jun 2023 9:32 pm
-
-
Mandatory starting school age in SG [UK to SG move]
Replies: 1
First post
Dear all
We are considering a UK to SG move next year. One of my children will be 4, almost 5 before heading off. They would normally start...
Last post
Preschool is not compulsory, but most parents I know choose to enroll their children just for proper socialization and skill development. Primary...
- 1 Replies
- 3057 Views
-
Last post by Lisafuller
Thu, 23 May 2024 4:00 pm
Users browsing this forum: No registered users and 1 guest