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Old 11-02-2020, 02:27 PM   #3
Pokémon
High Supremacy Member
 
Join Date: Jan 2000
Posts: 42,000
I am a late 30s single, and am looking at getting a 2 room condo after I get my PR (fingers crossed), to avoid the ABSD. I still need to pay 5% ABSD, but not the 15% of a non PR.

The place I am looking at is listing 1,300,000 SGD sales price. How much do you reckon that after all ABSD, stamp duty etc all in will cost me?

https://www.moneysmart.sg/home-loan/...uty-calculator
Conveyancing Fees - ~$2,700 (average inclusive of GST, and you might be able to find cheaper ones)

I am currently renting the exact same type in the condo (not same unit) and I am fetching a rental of 2500 SGD (and propertyguru is advertising 3000 to 3500). I might rent out the condo I bought since the current one I am renting is provided by my company. And only move into to my own condo in 2 - 3 years time.?
Wrong choices of words, and can lead to misunderstanding. Fetch is if you own the property. Bought if you already own one. So do you already own any property...?

Investment-wise, do you guys think it's worth it? Advice appreciated.
We do not have much info on the property you are eyeing on, how to say worth it or not? If 2.3% rental yield (before taking into considerations of the related expenses like property tax, income tax, maintenance fees, interest) is good for you, then it can be worth it. Perhaps you should look at the possible future capital appreciation as a whole, though no one can guarantee much.

You might want to hold on to purchasing one now, and wait a few months more to see if the market would be affected by the current coronavirus situation.
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