Homepage
PR Newswire
Want to invest in property but money not enough?
You are not alone! A lot of people in Singapore want to invest in property after buying their first property, be it private condo or HDB. But with the high property prices in Singapore, they do not have enough money to invest in a second property. How come?
For simple calcuation, let's use a ball park figure of $1 MILLION for a condo in Singapore. For second property, the minimum upfront cash payment for the downpayment is 25% as regulated by Monentary Authority of Singapore (MAS), which is $250K for a $1 MIL property.
As a Singaporean, you have to pay 7% ABSD (Additional Buyer's Stamp Duty) for the purchase of your 2nd property and 10% for the 3rd and subsequent property. For PR, it is 10% for 2nd property and subsequent property.
If you are a Singapore Citizen, the ABSD amount is $70K for this second property and you have to pay it in cash. Thus, the amount of cash you need to pay upfront is $320K! ($250K + $70K)
In addition, if you take a bank loan in Singapore, you are subjected to the regulation of TDSR (Total Debt Servicing Ratio) as imposed by MAS.
Under TDSR, your total loans including current monthly home loan payment and other loans such as car loan and personal loans cannot exceed 60% of your gross monthly income.
Does it mean that you have to give up on your dream of having a second property and enjoying passive income of a rental property?
The answer is a resoundingly NO!
Let me show you how to invest in a second property with a low cash outlay from just SGD15K for a high end property located in a prime location in a major city!
Click on THE LUXE to find out more how!
You are not alone! A lot of people in Singapore want to invest in property after buying their first property, be it private condo or HDB. But with the high property prices in Singapore, they do not have enough money to invest in a second property. How come?
For simple calcuation, let's use a ball park figure of $1 MILLION for a condo in Singapore. For second property, the minimum upfront cash payment for the downpayment is 25% as regulated by Monentary Authority of Singapore (MAS), which is $250K for a $1 MIL property.
As a Singaporean, you have to pay 7% ABSD (Additional Buyer's Stamp Duty) for the purchase of your 2nd property and 10% for the 3rd and subsequent property. For PR, it is 10% for 2nd property and subsequent property.
If you are a Singapore Citizen, the ABSD amount is $70K for this second property and you have to pay it in cash. Thus, the amount of cash you need to pay upfront is $320K! ($250K + $70K)
In addition, if you take a bank loan in Singapore, you are subjected to the regulation of TDSR (Total Debt Servicing Ratio) as imposed by MAS.
Under TDSR, your total loans including current monthly home loan payment and other loans such as car loan and personal loans cannot exceed 60% of your gross monthly income.
Does it mean that you have to give up on your dream of having a second property and enjoying passive income of a rental property?
The answer is a resoundingly NO!
Let me show you how to invest in a second property with a low cash outlay from just SGD15K for a high end property located in a prime location in a major city!
Click on THE LUXE to find out more how!