Getting A Condominium
WHO is eligible, Getting a
Condominium in Singapore?
HDB owner(s), existing flat
owned for 5 years or above
First-time buyer(s), no
current properties owned
Renting or Own a Private property
looking to move to another locality
Landed Owners looking to downside into an Apartment in Singapore
Breakdown based on the Bank loan based on 25% Downpayment.
Getting A Condominium In Singapore. if your combined household income is $9,500 or more, you are likely in a comfortable position to purchase a new or resale condo.
Many of our clients have successfully bought private properties in Singapore comfortably. With the right planning, you can avoid depleting your funds and stay within your financial means.
While a combined income of $9,500 serves as a rough benchmark, a thorough financial analysis is essential to determine your true affordability. For PRs and foreigners, this analysis is crucial to better understand your buying power.
$1,000,000 (i.e. $750,000 bank loan, $ 3,537 per month at 2.95% p.a. for 25 years) | $6,430 per month |
$1,500,000 (i.e. $1,125,000 bank loan, $ 5,306 per month at 2.95% p.a. for 25 years) | $9,647 per month |
$2,000,000 (i.e. $1,500,000 bank loan, $7,074 per month at 2.95% p.a. for 25 years) | $12,861 per month |
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WHY Private
Properties & Condominiums?
Homeowners and Investors seeking capital growth in their property investments understand that HDB flats are not designed for this purpose, as public housing must remain affordable for the masses.
Capital Appreciation: Over the past decade, private properties have consistently outperformed HDB flats in terms of capital appreciation, according to URA and HDB price indices.
Attractive Fundamentals: The factors that have historically attracted New Immigrants, PRs, High Networth Individuals, Foreigners with as ease of doing business, transparency, safety, and political
Is Singapore Property Prices Resilient? How has that impacted Private Properties and Condominium launches?
Historical data on private property housing has shown that sales demand typically recovers shortly after each crisis, indicating resilience in the residential market. True enough, demand has been healthy in the private property market.
Singapore’s property market “has been remarkably resilient” in the face of the pandemic and last year’s recession — The private property index was 5.6% above its pre-pandemic levels in the first quarter while nominal gross domestic product was about 4% below. According to Cushman & Wakefield, Singapore’s overall private housing prices grew by 1.5% quarter-on-quarter (qoq) in the first quarter of 2024. URA reported that overall private housing prices increased by 2.8% in the fourth quarter of 2023, indicating a strong performance leading into 2024.
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What is it got to do with me?
Advance Planning will be useful for Asset Elevation Method (AEM)
The key to capitalizing on these opportunities lies in conducting a thorough and conservative financial analysis.
By carefully evaluating your calculations, you may discover that the current market offers advantages such as
lower property prices and more favorable mortgage interest rates than previously available.
WHAT are the Condominiums
that I should consider?
If you are looking for the one single best project, re-think your approach. There is no one-size-fits-all property — the Condominium recommended to Person A might not be the best for Person B.
There are numerous condos available for sale in Singapore, whether new or resale. Common questions include, “Which condominiums are the best to buy?” and “What is a fair condominium price?”.
The reality is that there is no single best project for everyone. Each individual’s situation is unique, with different objectives, financial circumstances, and risk profiles. Every condominium also exists within a distinct competitive landscape, which means their fair entry and exit prices differ.
Some might assume that cheap condominiums with a low price per square foot (psf) are a great deal. However, it is crucial to understand that in real estate, the cheapest option does not necessarily equate to value for money.
There are, however, undervalued condominiums in Singapore..
At Buy Condo, we conduct a custom assessment for you. Using backend analytics tools we filter through condominium options to find undervalued properties that best suit your needs. To determine what makes a sound investment property, factors such as entry price, exit price, exit strategy, and rental potential must be analyzed.
How is BuyCondo.sg different?
How can we value add to you?
At BuyCondo.sg, we differentiate ourselves through a straightforward and transparent approach.
We avoid fancy stories, hard-selling tactics, and gimmicks. Our pride lies in our strategic process designed to help clients achieve their property goals and grow their asset wealth.
We emphasize facts and figures throughout our process to ensure informed decision-making. Additionally, our consultation process will be professional and comes with no obligations.
WHAT you will receive from us:
FREE REPORT
Your first step is to complete our quick questionnaire, which will enable us to generate a preliminary free assessment report based on your responses.
This step is objective and unbiased, providing you with a comprehensive understanding of your financial position, affordability, budget, and the conservative range of condominium prices you should consider.
Our report also includes calculations for Buyer’s Stamp Duty (BSD) or Additional Buyer’s Stamp Duty (ABSD) ,condo downpayment and buying a condo timeline, breaking down these calculations into CPF or cash. This helps you assess your suitability for purchasing a condo in Singapore.
If you are not eligible or suitable at this point in time, we will inform you accordingly and provide objective advice. If you are eligible, we will proceed to develop a more detailed analysis.
CONSULTATION
Our report will provide you with a clearer understanding of the various options available if you decide to purchase a condominium. Each scenario will include a detailed breakdown of calculations. To effectively understand these calculations and determine your next steps, we highly recommend scheduling a consultation with us.
Our consultation process is free and non-obligatory. During the consultation, we will consider your objectives, needs, risk profile catered for your needs to ensure a comprehensive analysis.
BUYCONDO Listings AI
We can help home buyers to search the properties that meet the parameters using AI to filter through different Condominiums/Private properties to determine the most suitable property for you.
BUYCONDO Listings AI to narrow down to condominiums that match your needs and budget, and are under-valued. It could really help many of home buyers to save alot of time and together with my expertise to discover their ideal property.
TIMELINE & ROADMAP
We will explain to you the timeline of buying a New Launch Condominium and/or the timeline of buying a Resale Condominium.
Processing of bank loan, appointing law firm, exercising OTP (Option to Purchase) and the different stages of payments including legal fees — all these should follow a correct timeline to facilitate the process of a Condominium purchase smoothly.
To value-add, we also provide
- A conservative & achievable asset progression plan, allowing you to accumulate wealth earlier
- A property investment “roadmap” in planned phases for the next 5 to 10 years
- The TOP 3 questions you need to ask before investing in any property
CASE STUDIES
We will explain to you Of course, many clients earning S$9,500 combined income have come to us with worries that they cannot afford a Condominium at first. With our step-by-step asset progression planning, they have since upgraded comfortably to own a Condominium in Singapore.
Insights and results from these real life cases can definitely be shared with you!
Receive a one-time complimentary analysis and
find out if you are able to own a Condominium comfortably!
Dont wait further, Many wants to wait for ABSD Reduced, Price to come down and they have been priced out of the Market.
WHEN is a good time to get a Condominium?
There is no fixed time — Every market condition presents opportunities, at any one point of time. Recent buyers have taken advantage of lower interest rates in the current market.
If you are an HDB flat owner, it would make sense for you to start planning once your house is reaching its Minimum Occupation Period (MOP) of five years.
If you are a PR or foreigner who have been renting for long-term stay, it is a good time for you to find out if you are able to afford your own Condominium instead.