Does an EP holder also have to pay 30% down? I was thinking EP holder can get away with 20%dpot wrote:We're considering the idea of purchasing a condo, and our budget is between $700,000 and $1,000,000. We plan to offer our Singaporean relatives an opportunity to 'buy in' with us, and then receive a proportion of the profits when we sell (or be bought out). This would allow us to get on the property ladder without flushing money down the toilet on rent, and it would give our family an opportunity to invest in the real estate market in Singapore without having to shell out the entire amount themselves, or worry about maintenance fees, stamp duties, etc (which we would cover).
However, given the news about cooling-off measures, we're slightly apprehensive, but we would want to purchase around April-May 2011. Neither of us are citizens or PR's, so we're aware that down payment will be about 30%.
What we're trying to find out is:
a) whether we should be concerned about a housing bubble in Singapore; we don't want to buy at the peak of the market, of course
b) what regions might prove to be a smart investment if we would plan to sell in 5 yrs
c) whether, in your opinions, it is wiser from a money-making standpoint to purchase a smaller, newer property or to modernise a larger, older property (we hope to find a 3br, since we're a small family, but might consider a 2br if it had more upside potential)
Thanks for your suggestions...
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