Is owning a condomimum just a dream in Singapore?

Property prices of new developments Outside of Central Region averaged $2200 psf!

The increase in residential property prices (8.6% in 2022 and 10.6% in 2021) outpaced that for income growth (averaged 3.8% income growth over the last 10 years)!

See how to own a condomimum in Singapore?

Let’s look at some assumptions.

Graduate couples should be able to raise SGD 500,000 in cash and CPF after selling off their Build-to-Order 4 room flat or 5 room flat.

Over 12 years, the couple could have saved SGD 400,000.

If they were to take up a loan of SGD 1,100,000 with 25 year tenure at 4% p.a., this couple would be able to buy a 99 year leasehold 3 bedroom condominium 900sf in OCR.

See possible! Why not!

Do you believe owning a private condomimum and forgoing other enjoyment in life e.g. exotic vacations, entertainments is an upgrade to living?

Do you believe that living in a private condomium is really a social upgrade compared to living in subsidised public housing?

Do you believe that owning private condomimum is a step up towards accumulating wealth for early retirement?