look you are right when you say that at a certain point paying rent is the same as a mortgage but it's important to consider what is the value of the
property going to do during the time you hold it.
Based on what I have seen and heard, property prices will fall and stagnate for some time so, even if you pay 600K now, it's possible it will be worth less when you go to sell it. If you plan to hold it for a long time then it may make sense to buy if you get a good deal. Around SARS I heard property prices halved in some cases. If you research trends you will find that in certain economies, house prices haven't reached the level they were in 1991 - the time of the last property boom
Here's the little I do know about Singapore i) apparently 25% of population are expats - if a % of these leave because the jobs dry up that will impact demand ii) singapore has massive capacity coming onto the market in terms of new
condos being built. Best to look at value / trends rather than is x amount the same as a mortgage payment. Let's not forget that you have to pay it back! (whereas rent you don't) and I do know of people in Singapore that owe the bank more than their place is worth.
