KiasuParents - Parenting in Singapore

Hi,

Anyone has idea which bank offers the best interest rates for housing loan now ?

If loan 1 million, how to calculate each month repay how much ?

Sorry for few more questions.

If want to buy property for renting out, which property is more worth to do so, should buy condo or buy private apartment like penthouse or shophouses? Any kind souls to help advise the pros or cons, because we have the idea that penthouse is more difficult to rent out as the demand is not great ? Anyone has any suggestion ?

thanks for reading...

You can use the online caluculator like what some bank provide. Eg go to OCBC site, choose Tools and Calculator.
To rent out, all property has it's demand. Usually smaller units is easier to rent out and you are getting less loan. It more flexible, (eg.) Instead of getting a penthouse, you may able to get 2 units of 2 bedroom and can collect 2 rental. If one not able to rent, u still have one to cover your loan. Or you can even sell off one.
Shophouses is different ball game. You may need to work out on 30 year lease than 99 or freehold housing. I can't comment much because I dont own 1.
You may able to find talk or couses to teach you how to leverage on what you have and own more properties. I am quite against this unless we really know the game and know ourselves well. The risk is too high. My advice, know your risk apetite first before enter to the market.

Hi Dankhim

Thks so much for your advise. Agreed with you that we must understand the risk before entering.. Trying to listen and learn more from ppl who willing to share. Tks.

Besides those mentioned, property is all about location location and location.

the most important Factor is Not to Buy @ property peak,
there is always a cycle,
be patient to wait for the down time ,
i dont think singapore real estate can be manipulated unlike in china
only that No one can predict when is the next black swan event,
just have to accumulate your own reserves to finance your opportunity buy when the finance crisis strikes

needtoupdate wrote:the most important Factor is Not to Buy @ property peak,
there is always a cycle,
be patient to wait for the down time ,
i dont think singapore real estate can be manipulated unlike in china
only that No one can predict when is the next black swan event,
just have to accumulate your own reserves to finance your opportunity buy when the finance crisis strikes

Very good advice!

I too am biting my tongue and sitting on my hands...

MadScientist wrote:

needtoupdate wrote:the most important Factor is Not to Buy @ property peak,
there is always a cycle,
be patient to wait for the down time ,
i dont think singapore real estate can be manipulated unlike in china
only that No one can predict when is the next black swan event,
just have to accumulate your own reserves to finance your opportunity buy when the finance crisis strikes

Very good advice!

I too am biting my tongue and sitting on my hands...

Market is slowing down at least in private properties generally, maybe the US crisis might further shake the local property up, so buyers out there, hang on! Current interest rates direction is not going to push sellers to be more realistic in their asking prices, but the recent global sentiment if sustained might. But who knows.

Some agents will req u for 1% selling price bef negotiation --> there is no such rule.
The listing prices can be a few hundreds more than the actual caveats but the agents will tell u 'that's fair range'. Check the caveat bef negotitation.

You can find private residential property transactions with caveats lodged on URA website at this url: http://www.ura.gov.sg/realEstateWeb/rea ... roller.jpf

You can also access the 'Property Market Information with Analysis Tools' which enable users to carry out a single search to find out information on private residential properties such as transacted prices, units launched and sold, rentals and pipeline supply at this url: http://www.ura.gov.sg/propertyinfo/#

U may call or email URA, MND or CEA if u've any doubts on buying private property or u think u're misled by agents.

The most important thing according to me when you are about to buy any real estate property, is the title of the property. If the title is defective then the holder or the buyer has no better title except that of thief.