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If u don't want to buy a HDB flat, why are u wondering how to afford one? If I am not planning to buy a BMW, I don't bother wondering how to afford one. make some sense.
My cousin bought his flat $130k in 1995..now..
- Thread starter RonRon
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If u don't want to buy a HDB flat, why are u wondering how to afford one? If I am not planning to buy a BMW, I don't bother wondering how to afford one. make some sense.
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Because I don't have to get "burn" to realize that there is an issue (with PAP).
http://www.sammyboy.com/showthread.php?t=49296
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You mean ur friends rather buy properties outside of Singapore? - buy 3 room flat then when have money then buy properties outside of Singapore?
BUT how your friend move his CPF savings out?[/QUOTE]
Use CPF to buy HDB and cash to buy overseas. Use your cash for investments like stock or anything. When you have surplus cash, buy from overseas like Australia, Malaysia, Thailand and so on. If you look back more than 10 years ago, you be surprised those houses are selling so cheap.
If you committed yourself to HDB, people like those who bought at Pinnacle and those who about to buy at Dawson for example they are buying and stretch their loan to maximum. The only thing they can hope for the properties to rise in ten years time.
Housing are expensive, and now can stretch to 30 years which make it worst.
They do not realise it if they default payment maybe due to job loss or retrenchment. If they pay too much cash over CPF, hardly the balance to make end meet. Probably these people will buy car, another instalment again and so on and on. Singaporeans like to travel every year.
So more people will work to service the loan. So CPF has defeated the cause for old age retirement. At the end you work your brain out to pay and pay.
People who are in the forties and above are lucky ones, if their investment have appreciated.
There is a saying in Chinese " If your head is not too big, don't wear a big hat" A good advice for those who looking for flat, buy a resale 3 rmHDB to start off. Only when you are in a very stable foundation, you go for bigger flats.
Recently there is a couple with one kid who bought a 2rm at Chinatown for $245,000. Let me tell you he is not stupid. His CPF will be able to service the loan. He only pay $45,000 COV. What you do not know he had other plan and the day he will have cash as king. Who knows.
BUT how your friend move his CPF savings out?[/QUOTE]
Use CPF to buy HDB and cash to buy overseas. Use your cash for investments like stock or anything. When you have surplus cash, buy from overseas like Australia, Malaysia, Thailand and so on. If you look back more than 10 years ago, you be surprised those houses are selling so cheap.
If you committed yourself to HDB, people like those who bought at Pinnacle and those who about to buy at Dawson for example they are buying and stretch their loan to maximum. The only thing they can hope for the properties to rise in ten years time.
Housing are expensive, and now can stretch to 30 years which make it worst.
They do not realise it if they default payment maybe due to job loss or retrenchment. If they pay too much cash over CPF, hardly the balance to make end meet. Probably these people will buy car, another instalment again and so on and on. Singaporeans like to travel every year.
So more people will work to service the loan. So CPF has defeated the cause for old age retirement. At the end you work your brain out to pay and pay.
People who are in the forties and above are lucky ones, if their investment have appreciated.
There is a saying in Chinese " If your head is not too big, don't wear a big hat" A good advice for those who looking for flat, buy a resale 3 rmHDB to start off. Only when you are in a very stable foundation, you go for bigger flats.
Recently there is a couple with one kid who bought a 2rm at Chinatown for $245,000. Let me tell you he is not stupid. His CPF will be able to service the loan. He only pay $45,000 COV. What you do not know he had other plan and the day he will have cash as king. Who knows.
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http://www.straitstimes.com/BreakingNews/Money/Story/STIStory_482645.html
ASIAN markets suffered their biggest one-day losses in three months, as fears over planned limits on lending by banks in China unnerved investors already jumpy at proposed curbs on United States banks.
Investors scrambled for cover on fears that Beijing might choke booming economic growth in its zeal to clamp down on rampant lending. Mainland lenders splurged 1.45 trillion yuan (S$300 billion) in new loans in the first 19 days of the year alone.
In the ensuing rout, Taiwan dived 3.48 per cent while Shanghai lost 2.42 per cent and Hong Kong fell 2.38 per cent.
Here, the Straits Times Index fell 71.38 points, or 2.54 per cent, to 2,740.33, as lenders such as DBS Group Holdings and United Overseas Bank and property developers with heavy China exposure such as CapitaLand came under selling pressure.
China is asking its lenders to set aside more reserves and lend out less money, in a move widely seen as an effort to cool its economy which grew at a blistering 10.7 per cent in the fourth quarter of last year.
While Beijing worries about economic overheating, investors around the world are alarmed that China's move might derail the global economic recovery.
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