How much Salary to Buy a Condo in Singapore as a Single

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[@AIIan21]

@3:15 - the part about investing in condominium and holding it until you are 35 to get your own HDB flat is not entirely accurate. you cannot buy a flat once you own a condo. you may want to go into more detail about potentially transferring the condominium to a kin or spouse so your property count is 0 and can then be eligible to buy a flat. you may also want to go into detail on the time you need to wait before buying a flat after selling a condo due to the recent change in the law.

[@marinekong235]

if one is transferring a property to others just to avoid the taxes - that move is no longer available.

[@bigradwolf5001]

Couldn't afford SG so I bought 600 sqft in Thailand.

[@SkyLee91]

9k salary is assume u rent out 1 room at rate of 1.6k, if u wan full privacy, mean u need to have at least 11k salary

[@juniorjr5328]

Base pay or with bonus?

[@juniorjr5328]

Take home or with cpf ?

[@SkyLee91]

@@juniorjr5328 based on the video, should be take home salary

[@juniorjr5328]

@@SkyLee91 bonus or no bonus annually

[@bigradwolf5001]

@@juniorjr5328What's a bonus? You guys get bonus?

[@c0nstipat3d]

You missed out on property tax and also agent commission

[@prismch8116]

As a single, if u can afford a private property before 35, what potential reasons would make one go back to buy a public housing (resale) after? Capital appreciation isnt as good, rental yield lower & more restrictions(lock in period, cannot sell to foreigners) no? Also, wont u need to dispose your condo beforehand before you go move back to public housing?

[@MargaretWeir-sw3er]

I'm a single, 43-year-old father who resides in Hamburg. If everything continues to go well for me, I intend to retire at age 50. I couldn't be happier right now than I am that I just bought my first house last month. I'm so happy that I made wise choices that altered my life forever.

[@bigradwolf5001]

Which side in SG is Hamburg?

[@520chris]

I would advise singles not to wait until 35yo for HDB BTO or resale as the capital appreciation is not worth the wait. Start off with buying a 1 bedder resale in the OCR. They are more affordable with a 5-6k salary. You can still find value buys around 750k-850k. 1 bedder has the highest rental yield. You can upgrade to a better location or bigger unit 5-8 years later when you have more savings and after your property appreciate. 1 thing i regreted most was to wait for 35yo but ended up buying a RCR 1 bedder in my late 30s 😂. That was about 8 years ago and my property had appreciated like 25% and i am ready to sell and upgrade to a 2 bedder.

[@ifjfgvjfidifijf]

1BR is very hard to sell

[@520chris]

@@ifjfgvjfidifijf depends on location

[@ifjfgvjfidifijf]

@@520chris nah, it’s hard to sell in general. Your buyers are only investors, with the price up 25% as you said, the rental yield would be minuscule, will make it not at all attractive

[@johnnydoe1237]

​@@ifjfgvjfidifijfin theory yes you would be correct, yet prices of 1 bedders have been increasing like crazy recently

[@marinekong235]

every $100k borrowed is about $666 per month instalment for 25 years - so do your maths with these simple figures

[@MrKar18]

The assumption of all these million dollar condos is that you have a consistent or higher income for next 30 years(for 30 year tenure), which is definitely too good to be true. The job landscapes and political landscapes are so unpredictable to buy a condo if you are a salaried person. But well, only the next decade would say how it's going to be

[@johnnydoe1237]

What if you buy before selling in 3 years (min duration)? Isn't private property appreciation q high?

[@Posoma77]

Are you a property investor yourself? Or are you a property agent? Or how many times have you bought a private property?

[@marinekong235]

kosong

[@LeakyBucketsg]

U should interview Seth Wee, he is a single who owns a condo!

[@juniorjr5328]

Tons of single owns condo

[@marinekong235]

if you need to depend on room rental to pay your mortgage then you will be farked up

[@jl0959]

should you talk about TDSR too?

[@bigradwolf5001]

What's that?

[@jackyjacky4220]

really sure that 1 bedroom can rent $1600 ??

[@SkyLee91]

can, now hdb common room is about 1k liao. So condo is around that price

[@lilaclaicc]

Yup. I think if it is relatively nicely renovated and stuff are new, 1.6k is not a problem.

[@simplyme3306]

actually my colleague just rented a HDB room at Outram area for like $1500

[@marinekong235]

maybe need to provide extra services hahaha

[@frederickho348]

CCR/RCR/OCR. Pls refer to map of URA

[@thazinyu723]

Hi, I'm S pass holder from foreign country. I'd like to move my saved money from my native country to Singapore as S$ in Singapore bank. May I know still do i need to give tax to Singapore government for my total saved money? Thanks.

[@kamal47h]

Nope you dont have to.

[@bigradwolf5001]

Don't be a tax evader in your home country. If caught, you'll be in big trouble.

[@marinekong235]

no problem to move the money here. just telegraphic transfer no more than US$50k a month to avoid being interviewed

[@Game-MasterNo1]

Q: How to look for cheaper condos? A: By your luck😂

[@lishr4536]

so how much do I need? 9k? 360k OUTLAY IS A LOT LEH! LOL