Using Rental allowance to Buy?

duncanmacleod · Post by **duncanmacleod** » Thu, 14 Mar 2013 9:21 am

Like many of the expats in Singapore I get a housing allowance. Does anyone have any thoughts on actually buying an apartment with that money and using it for the mortgage? Is this a common thing? I'll be in Singapore for at least 5 years. Any feedback welcomed.

zzm9980 · Post by **zzm9980** » Thu, 14 Mar 2013 11:40 am

If you have the upfront cash for down payment, ABSD, etc, it's probably worth it.

Any chance you're American, Swiss, or Swedish? You'll save 15% on ABSD.

BillyB · Post by **BillyB** » Thu, 14 Mar 2013 11:50 am

duncanmacleod wrote:Like many of the expats in Singapore I get a housing allowance. Does anyone have any thoughts on actually buying an apartment with that money and using it for the mortgage? Is this a common thing? I'll be in Singapore for at least 5 years. Any feedback welcomed.

I'd wait for this housing fiasco to calm down before committing cash to the Singaporean housing market. It's got all the characteristics of a giant bubble, that, due to intervention, won't be allowed to burst so it will continue to spiral and spiral....

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Using Rental allowance to Buy?

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