Using Rental allowance to Buy?

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duncanmacleod
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Using Rental allowance to Buy?

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.

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zzm9980
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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.

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BillyB
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Re: Using Rental allowance to Buy?

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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