Jrage 1st Gear May 3, 2012 Share May 3, 2012 Finding it strange that is now more "affordable" to buy a condo than a flat. For example, if you getting a resale flat selling 625k , asking for 35 k COV . You need 31.5k + 35k cash = 76.5k cash If you getting a condo 1.3mil from projects that offer cash rebate for stamp fee. You only need 65k cash -cash stamp duty rebate (33.6k) = 31.4k cash. No wonder, ppl are getting buying up condo in such a high liquidity environment. .. It think absd , instead of dampen the pty mkt, it actually fuel the mkt. ↡ Advertisement Link to post Share on other sites More sharing options...
13177 Hypersonic May 3, 2012 Share May 3, 2012 But if you are first time buyers, and if you buy condo first, think you are not allow to buy any HDB in future?! Link to post Share on other sites More sharing options...
Scb11980 1st Gear May 3, 2012 Share May 3, 2012 Finding it strange that is now more "affordable" to buy a condo than a flat. For example, if you getting a resale flat selling 625k , asking for 35 k COV . You need 31.5k + 35k cash = 76.5k cash If you getting a condo 1.3mil from projects that offer cash rebate for stamp fee. You only need 65k cash -cash stamp duty rebate (33.6k) = 31.4k cash. No wonder, ppl are getting buying up condo in such a high liquidity environment. .. It think absd , instead of dampen the pty mkt, it actually fuel the mkt. if i am not wrong i think you are a property agent any self interest working here if the above is not correct sorry Link to post Share on other sites More sharing options...
Jrage 1st Gear May 3, 2012 Author Share May 3, 2012 if i am not wrong i think you are a property agent any self interest working here if the above is not correct sorry nope.. def not a agent.. you can check my other posts :P Link to post Share on other sites More sharing options...
Jrage 1st Gear May 3, 2012 Author Share May 3, 2012 But if you are first time buyers, and if you buy condo first, think you are not allow to buy any HDB in future?! not true lah.. alot of ppl are now using their parents name to buy condo etc..many banks now allow the mortgagor to be different from the applicant. Link to post Share on other sites More sharing options...
Ronleech 2nd Gear May 3, 2012 Share May 3, 2012 Finding it strange that is now more "affordable" to buy a condo than a flat. For example, if you getting a resale flat selling 625k , asking for 35 k COV . You need 31.5k + 35k cash = 76.5k cash If you getting a condo 1.3mil from projects that offer cash rebate for stamp fee. You only need 65k cash -cash stamp duty rebate (33.6k) = 31.4k cash. No wonder, ppl are getting buying up condo in such a high liquidity environment. .. It think absd , instead of dampen the pty mkt, it actually fuel the mkt. Who ask you to buy from open market when you can enjoy rate as a first timer? Have you consider the monthly repayment amount too? Link to post Share on other sites More sharing options...
Pentium 1st Gear May 3, 2012 Share May 3, 2012 which condo can get so high loan ? Link to post Share on other sites More sharing options...
Ultramega 1st Gear May 3, 2012 Share May 3, 2012 But if you are first time buyers, and if you buy condo first, think you are not allow to buy any HDB in future?! No such rule. After sell condo, 18 months later can buy hdb. Not only for 1st timers... is for all Singaporeans. Link to post Share on other sites More sharing options...
Soya Supersonic May 3, 2012 Share May 3, 2012 Finding it strange that is now more "affordable" to buy a condo than a flat. For example, if you getting a resale flat selling 625k , asking for 35 k COV . You need 31.5k + 35k cash = 76.5k cash If you getting a condo 1.3mil from projects that offer cash rebate for stamp fee. You only need 65k cash -cash stamp duty rebate (33.6k) = 31.4k cash. No wonder, ppl are getting buying up condo in such a high liquidity environment. .. It think absd , instead of dampen the pty mkt, it actually fuel the mkt. Yes and no. Tho cash outlay for pte looks less, the loan quantum is double. For a first timer, it'll be silly to compete wif upgraders or the riche out there who has real $$ to spend on property and not to let ah gong pay for something either thru resale grant, cpf grant or 'subsidised' flat. Link to post Share on other sites More sharing options...
Ronleech 2nd Gear May 3, 2012 Share May 3, 2012 No such rule. After sell condo, 18 months later can buy hdb. Not only for 1st timers... is for all Singaporeans. Thot is 30mths.....better chk...kekeke Link to post Share on other sites More sharing options...
Karu 6th Gear May 3, 2012 Share May 3, 2012 If you compare entry level condos to the resale flats in matured estate, yes, a condo is a more logical option. At least for me 3 years back. A 30+year old resale 5-rm flat was selling at $650K with 40K COV vs a brand new freehold condo at $800K. Although condo is slightly smaller, I did not have to cough out so much cash & the upside is definitely more for the condo. So the choice for me was very obvious... Link to post Share on other sites More sharing options...
Soya Supersonic May 3, 2012 Share May 3, 2012 No such rule. After sell condo, 18 months later can buy hdb. Not only for 1st timers... is for all Singaporeans. simi 18 mths? time bar is 30 months after selling pte property. plus, household income maybe oredi exceed 10k by then. Link to post Share on other sites More sharing options...
Jrage 1st Gear May 3, 2012 Author Share May 3, 2012 which condo can get so high loan ? hahaha .. when was the last time you enquire abt your loan amt limit from the banks? Nowadays bank literally throw $$ at you.. I was shocked by the amt bank is willing to lend. Link to post Share on other sites More sharing options...
RealSabbie Neutral Newbie May 3, 2012 Share May 3, 2012 Please take note that under MAS632, all cash rebates and furniture vouchers must be net off from the purchase price and you can only borrow 80% of that. Your analysis are usually good, in this case, I think it's off. Link to post Share on other sites More sharing options...
Jrage 1st Gear May 3, 2012 Author Share May 3, 2012 (edited) If you compare entry level condos to the resale flats in matured estate, yes, a condo is a more logical option. At least for me 3 years back. A 30+year old resale 5-rm flat was selling at $650K with 40K COV vs a brand new freehold condo at $800K. Although condo is slightly smaller, I did not have to cough out so much cash & the upside is definitely more for the condo. So the choice for me was very obvious... then, when you get a condo.. you need to cough out 80k.. but if there were absd reimbusement.. you only need to cough out ~38k leh. the difffferent is too hugh to ignore.. almost half of the amt of cash you need to cough out. Edited May 3, 2012 by Jrage Link to post Share on other sites More sharing options...
Tjkbeluga 5th Gear May 3, 2012 Share May 3, 2012 Finding it strange that is now more "affordable" to buy a condo than a flat. For example, if you getting a resale flat selling 625k , asking for 35 k COV . You need 31.5k + 35k cash = 76.5k cash If you getting a condo 1.3mil from projects that offer cash rebate for stamp fee. You only need 65k cash -cash stamp duty rebate (33.6k) = 31.4k cash. No wonder, ppl are getting buying up condo in such a high liquidity environment. .. It think absd , instead of dampen the pty mkt, it actually fuel the mkt. Compare a 625K property vs a 1.3M property, that's double the price. Sure, initial payment may be lower for condo, installment leh? No need to consider aa.... Link to post Share on other sites More sharing options...
Mustank Hypersonic May 3, 2012 Share May 3, 2012 Finding it strange that is now more "affordable" to buy a condo than a flat. For example, if you getting a resale flat selling 625k , asking for 35 k COV . You need 31.5k + 35k cash = 76.5k cash If you getting a condo 1.3mil from projects that offer cash rebate for stamp fee. You only need 65k cash -cash stamp duty rebate (33.6k) = 31.4k cash. No wonder, ppl are getting buying up condo in such a high liquidity environment. .. It think absd , instead of dampen the pty mkt, it actually fuel the mkt. i dont think cash compoenent is the key consideration because many people got excess cash. i think people looking for "value" buys Link to post Share on other sites More sharing options...
Jrage 1st Gear May 3, 2012 Author Share May 3, 2012 (edited) Please take note that under MAS632, all cash rebates and furniture vouchers must be net off from the purchase price and you can only borrow 80% of that. Your analysis are usually good, in this case, I think it's off. Yes.. it's nett off from the loan. But if you have enough cpf, it will means you need less cash to buy. MAS should require buyer to cough back the cash rebate into the option. Edited May 3, 2012 by Jrage ↡ Advertisement Link to post Share on other sites More sharing options...
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