Posted on August 24, 2009 - by Wilfred Ling

7 Financial Planning Tips for Property Purchase

Photo by flattop341

For some strange reason, we are seeing a property bull run in Singapore. This is despite that we are still in recession and the global economy is still not out of the woods yet. A Straits Times article entitled “Cash upfront for HDB resale flats doubles in a month” dated 20 August 2009, it was reported hat the cash needed upfront for a HDB resale roughly doubled last month.

PropNex reported the median Cash-Over-Valuation (COV) for 5-room HDB resale as $5,834 in July compared -$796 in April-June period. ERA reported median COV $13,000 for July compared to $5,000 in April-June period. C&H Realty reported median COV $8,000 compared with $3,000 in April-June period. Should you join the property craze? Here are some financial planning tips on property purchase: Read more…

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