rent or buy

Discuss about where to live, renting a property, tenancy issues, property trend and property investment in Singapore.
Post Reply
Adamkl
Newbie
Newbie
Posts: 13
Joined: Wed, 04 Mar 2009 2:03 pm

rent or buy

Post by Adamkl » Mon, 23 Mar 2009 4:01 pm

Its me again

I am moving from Dubai to Singapore and I am currently trying to work out if its worth renting or if I should just buy a place in Singapore.

The rents I have been looking at range from 1000 to 1400 per month which I believe isn't far off a mortgage payment, but trying to find a property listing which is helpful is hard to find. why advertise without a price?

So if you guys could let me know if I am realistic in thinking I can find a freehold property for around 600,000?

I am only looking for a 1 / 2 bed place

Cheers once again for all your help

Singapore Property Search

 

rosborn
Regular
Regular
Posts: 67
Joined: Thu, 20 Mar 2008 12:12 pm
Location: River Valley

Post by rosborn » Thu, 26 Mar 2009 2:59 pm

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.

rosborn
Regular
Regular
Posts: 67
Joined: Thu, 20 Mar 2008 12:12 pm
Location: River Valley

Post by rosborn » Thu, 26 Mar 2009 3:01 pm

oh and there are couple of good property websites:



plus this site.

utami
Newbie
Newbie
Posts: 13
Joined: Mon, 19 Jan 2009 1:57 pm

Post by utami » Mon, 13 Apr 2009 1:43 pm

Just based on ballpark figures, it sounds like at that price your choice would be heavily limited to HDBs. And I think for that there are certain criteris you have to meet.

User avatar
amiee40
Chatter
Chatter
Posts: 170
Joined: Mon, 20 Oct 2008 3:13 pm

Post by amiee40 » Mon, 13 Apr 2009 9:57 pm

To buy a HDB, you have to be a Singaporen citizen.

If i am wrong, can someone correct me.

Thanks

Post Reply
  • Similar Topics
    Replies
    Views
    Last post

Return to “Property Talk, Housing & Rental”

Who is online

Users browsing this forum: No registered users and 6 guests