Hi Team, I’m writing in to ask for some objective advise. My partner and I are below 30 yo, with a combined monthly income of $11,500 excluding bonuses. But as we are starting out in our careers, we both combined have about cash + cpf ~180,000-200,000. We are lucky in a sense that in the event we decide to try...
While the Medium-Term interest rate highlighted by MAS is four per cent, we've used 4.6 per cent as several banks used a more conservative figure in deciding how much to lend out.
Moving forward, it's also unlikely that new EC prices would fall below Altura — unless its location leaves much to be desired.Things to take note ofA BTO has an MOP of 5 years and you can sell to any buyer that meets the HDB eligibility requirements. Depending on your estate, there may/may not be ethnic quota restrictions.
There is the normal progressive payment scheme and a deferred payment scheme which allows you just pay the 20per cent downpayment , and defer the rest of the payment until the development obtains its TOP. However, the property price will usually be 2-3per cent higher.In the event you purchase a second subsidised property, a resale levy of $40-45K will be payable depending on whether you purchase a 4/5-room flat.Number of launchesNow, let’s look at how BTOs and ECs have been performing.
We have also previously written an article on whether ECs are still worth buying and similarly, we will touch on the main points here. According to a recent study conducted by OrangeTee & Tie, they cross-referenced new EC transaction records with resale transactions spanning from 2007 to August 2022.
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