Using Rental allowance to Buy?

[duncanmacleod]

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]

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]

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....