Buying a HDB or Condominium?

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the observer
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Re: Buying a HDB or Condominium?

Post by the observer » Wed, 11 Aug 2021 11:27 am

https://sg.news.yahoo.com/ultra-rich-ar ... 41347.html


The Ultra-Rich Are Driving a $24 Billion property Frenzy in Singapore

Faris Mokhtar11 August 2021, 5:00 AM SGT
In an exclusive Singapore neighborhood shaded with rain trees, a local tech billionaire plunked down $95 million for a mansion. Near an upscale shopping district, a Taiwanese family with a grocery empire spent $216 million for all the units in a condominium development.

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Myasis Dragon
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Re: Buying a HDB or Condominium?

Post by Myasis Dragon » Thu, 12 Aug 2021 4:25 am

the observer wrote:
Wed, 11 Aug 2021 11:27 am
https://sg.news.yahoo.com/ultra-rich-ar ... 41347.html


The Ultra-Rich Are Driving a $24 Billion property Frenzy in Singapore

Faris Mokhtar11 August 2021, 5:00 AM SGT
In an exclusive Singapore neighborhood shaded with rain trees, a local tech billionaire plunked down $95 million for a mansion. Near an upscale shopping district, a Taiwanese family with a grocery empire spent $216 million for all the units in a condominium development.
Without government restrictions on foreign real estate investments, Singapore real estate prices are going to resemble those of Hong Kong.

With government restrictions on foreign real estate investment, Singapore risks the possibility of a real estate recession and attendant foreclosures.

Damned if they do and damned if they don't.

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Re: Buying a HDB or Condominium?

Post by Sunjackal » Thu, 02 Sep 2021 6:33 pm

We bought a HDB resale. There’s a couple of reasons for this, though.

1) We plan to be here for a long time, and we didn’t want our son to grow up in an expat bubble. I realise it’s not as black and white as condo = bubble but we felt living in a HDB would be much more varied.

2) Condo vs HDB floor space is crazy in terms of price. We bought a 5 room HDB - around 1250sqft. If we did that in a condo, the price would have been x3 probably.

3) We wanted to be close to my wife’s family and didn’t want to wait for the condos to be built.

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malcontent
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Re: Buying a HDB or Condominium?

Post by malcontent » Thu, 02 Sep 2021 9:29 pm

HDB living is the best way for a foreigner to learn and adapt here. That is where I lived my first 2.5 years. I didn’t find it too much of a culture shock. If you are an ang moh, you will typically be the only one in the block, and possibly the entire estate. It definitely gets you extra attention. Most people are down to earth and friendly, in a uniquely Singapore way. They often have strong opinions about a lot of things, but are also curious to learn.

Living near your in-laws is not a surprise. Mine live right in the apartment next door, literally less than 10 steps away! The important thing is to manage your finances well and budget with a sharp pencil. Keep in mind that Singapore is a place to make money, not spend money. Look at the bright side, it can make you less materialistic!

Once you start investing, you may be surprised to learn that London is the best destination for investment dollars here. Locals who are “in the know” will typically buy London listed ETFs like VWRA or ISAC which are both better and cheaper (by far) than local investment products.

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Re: Buying a HDB or Condominium?

Post by Sunjackal » Sat, 04 Sep 2021 11:24 am

Good to know! Thanks. Having just come from London, I suppose that means I shouldn’t feel a terrible rush to move investments across from the UK to here.

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malcontent
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Re: Buying a HDB or Condominium?

Post by malcontent » Sat, 04 Sep 2021 1:02 pm

Sunjackal wrote:
Sat, 04 Sep 2021 11:24 am
Good to know! Thanks. Having just come from London, I suppose that means I shouldn’t feel a terrible rush to move investments across from the UK to here.
Exactly… all that you may need to do is update your broker on your new address and tax residency status. If your UK broker doesn’t accept non-residents, you’ll probably want to open an account with Interactive Brokers (IBKR) and transfer your UK investments to that account.

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