If there’s one thing we all know, it’s that Singapore’s property market is synonymous with dynamism, growing rapidly over the past few years. Staying ahead of the game and finding that perfect condo for investment in Singapore can be nothing…
Considerations for purchasing an executive condominium (EC) in Singapore include income, property prices, eligibility, additional costs, housing grants, and mortgage loans. The current income ceiling is SGD 16,000 per month, and property prices range from SGD 800 to SGD 1,200 per square foot (PSF). Additional costs include stamp duties, legal fees, and mortgage insurance. Eligible buyers may qualify for CPF housing grants ranging from SGD 10,000 to SGD 30,000. Banks offer up to 80% loan-to-value ratio for ECs under construction. For a property priced at SGD 1 million with a 20% down payment of SGD 200,000, the estimated monthly installment would be around SGD 3,382 for a 25-year loan at 2% interest. Consult a financial advisor for personalized advice.
Yes, you can sell your Executive Condominium (EC) after fulfilling the 5-year Minimum Occupation Period (MOP). After completing the MOP, you are allowed to sell your EC to Singapore citizens or Singapore Permanent Residents. However, if you wish to sell your EC to foreigners or non-residents, you must wait for a total of 10 years from the date of purchase, when the EC becomes fully privatized.
While executive condominiums may attract potential buyers with their more affordable price range, there are compelling reasons to consider purchasing a condominium.
In terms of valuation and rental income, executive condominiums often outperform private condos, making them an appealing investment option.
High floors offer breathtaking views, enhanced privacy, and a quiet refuge from noise disturbances. Low floors provide convenience and accessibility, especially during emergencies or power outages. Higher floors often carry a higher price tag compared to their lower counterparts. Lower floors may experience more foot traffic and a greater likelihood of pest intrusions.
Are you considering investing in Singapore’s property market? If so, it’s important to understand the concept of property yield and how it affects your investment decisions. Property yield is the annual return on investment generated by a property, expressed as…
As the world continues to navigate the complexities of a post-pandemic landscape, Singapore’s real estate market is shaping up to adjust to this new reality. With 2023 just around the corner, potential homebuyers and investors are likely pondering various questions…
Singapore’s property market is one of the most dynamic and lucrative in the world, making it an attractive destination for investors and homebuyers alike. However, with property prices on the rise, many people are turning to property loans to help…
With its dense population and high-rise buildings, the condo market has become not just a necessity but also an attractive investment for many property owners. However, selling a condo in Singapore can be a challenging endeavor, particularly when you need to liquidate your asset quickly without sacrificing your return on investment. Fear not, potential sellers!
This has led to an increasing demand for condos in prime locations and stimulated interest in exploring their potential value as investments. As an investor or potential homeowner, it is important to understand how condominiums hold their value and what factors influence appreciation rates.
