While the 5Cs no longer hold as much attraction for people in Singapore nowadays, owning or upgrading to a condominium is still a life goal held by many. After all, it’s a status symbol for many and private properties are assets that’ll appreciate in value through the years.
But is it still an achievable goal, given the skyrocketing property prices and rising mortgage loan interest rates? Let us do the math for you and show you the numbers you’ll need to own a condominium in Singapore without going hungry.
The Cost of Owning A Condo in Singapore
Housing in Singapore is generally expensive, especially when you move past public housing into private properties.
According to our market findings, the median cost of buying a condominium in Singapore is S$1,450,000. Other than the cost of a condominium, you’ll have to take the Buyer’s Stamp Duty (BSD) into account as well....