Moving to Singapore - should I just buy rather than rent?

[SingMark]

No problem at all!

Banks are usually willing to lend up to 80% on a first purchase. Rates are low at around 2%.

But the Govt just introduced a stamp duty of 13% on the purchase of a property. Which kind of throws a spanner in the works

[ecureilx]

No problem at all!

Banks are usually willing to lend up to 80% on a first purchase. Rates are low at around 2%.

For foreigners ?? WOW .. where ?????????????????????

[Segue]

Thanks -apart from the luxury market, how about older style places in nice areas such as near the bottanical gardens. Places that have a nice layout, higher cielings, but are a little outdated inside in terms of furnishings, etc? Some are around 1800 per square foot. That seems quite high to me!

$1,800/sq ft is quite a low price for that kind of prime area. Yes, you can only get an older place for that kind of price.

Districts 9/10/11 typically you can't touch less than $2,500 for a newer place.

Also, when they refer to "luxury" here its more about the location than the actual building. If you see condo in those price ranges in CBD, you won't think its "luxury" by any standard. To get to the "wow" type of building you need to be in the $3,500+ range.

[SingMark]

That is extremely expensive. If you look at some nice places in Hong Kong where I live, the places are around 1000 to 1500 per square foot (if you measure in Sing dollars). And these are apartments in Hong Kong for expats:

http://parkislandhongkong.blogspot.com/ ... -rent.html

http://parkislandhongkong.blogspot.com/ ... sland.html

Now these are not in the most prestigious locations like the Peak in HK or Repulse Bay, but still extremely nice.

So it seems Singapore is now more expensive than HK?

[Segue]

That is extremely expensive. If you look at some nice places in Hong Kong where I live, the places are around 1000 to 1500 per square foot (if you measure in Sing dollars). And these are apartments in Hong Kong for expats:

http://parkislandhongkong.blogspot.com/ ... -rent.html

http://parkislandhongkong.blogspot.com/ ... sland.html

Now these are not in the most prestigious locations like the Peak in HK or Repulse Bay, but still extremely nice.

So it seems Singapore is now more expensive than HK?

If you look in the East Coast, I think you might be able to get something with ocean view for $1,500.

[SingMark]

Well 1500 is still pretty pricy! But I will consider it. Can you provide any specific suggestions?

I looked at buying the new SoHo apartments in Singapore today. 3000+ per square foot. Crazy prices.

[SingMark]

Another thought. How feasible would be to live somewhere isolated, perhaps by the airport, but then just get a car to drive around. If its nice and peaceful out there, and good for kids and a dog etc, is that a good option? What could you get in such an area for 2-3 mil?

[zzm9980]

That's pretty far out there. If you a pick an area like Pasir Ris, that is in the rough general vicinity of the airport and you will do a little better for your money. If you mean Changi right by the actual airport, you'll do a lot better for your money, but there is nothing there. I guess it really depends on you, how much sq/ft-age vs a convenient location mean to you.

[ecureilx]

Another thought. How feasible would be to live somewhere isolated, perhaps by the airport, but then just get a car to drive around. If its nice and peaceful out there, and good for kids and a dog etc, is that a good option? What could you get in such an area for 2-3 mil?

Merry Christmas to you chief ..

If you had 2-3 million (I am assuming S$ or US$, not HK$), wouldn't you know what to do ??

Well, that's what a property guy whom I know, who owns a few apartments said

The said guy has bought apartments in Arcadia, Compass Heights, and Kovan Melody and The Sail, and has slowed down since the property cooling measure ..

Maybe I am wrong

[sundaymorningstaple]

Maybe.

[SingMark]

Another thought. How feasible would be to live somewhere isolated, perhaps by the airport, but then just get a car to drive around. If its nice and peaceful out there, and good for kids and a dog etc, is that a good option? What could you get in such an area for 2-3 mil?

Merry Christmas to you chief ..

If you had 2-3 million (I am assuming S$ or US$, not HK$), wouldn't you know what to do ??

Well, that's what a property guy whom I know, who owns a few apartments said

The said guy has bought apartments in Arcadia, Compass Heights, and Kovan Melody and The Sail, and has slowed down since the property cooling measure ..

Maybe I am wrong

I have ability to borrow 2-3mil Sing Dollars. But just because I can borrow, it does not mean I know where to buy in Singapore. I am new here!

How about a more isolated location near the Biopolis. Any suggestions?

[ecureilx]

I have ability to borrow 2-3mil Sing Dollars. But just because I can borrow, it does not mean I know where to buy in Singapore. I am new here!

Sounds fair .. cos I thought you are paying "CASH"

[SingMark]

Ha ha - like those rich mainlanders you mean? Nah, not me. I prefer to borrow and leverage anyhow.

So, any suggestions about a more remote place, more in the countryside area, near One North/Biopolis?

[zzm9980]

You really won't find many places like what you're looking for... There is no designated "cheap/remote" area. Any developer who built anything has an angle and will be trying to milk maximum profits.

Or, to look at it from a "Glass half full" perspective, any area outside of District 9/10 is the cheaper more remote areas you're looking for

[boffenl]

Um, One North/Biopolis is certainly NOT remote. Just because it's outside the CBD doesn't mean it's remote. In fact, with the new MRT line it's become a hot location. Remote in Singapore means Kranji or possibly Tampines.