Using monies from your CPF Ordinary Account to make your downpayment for your home may be common but to wholly rely on OA to fund your home purchase may not be the wisest decision. Let us tell you why. Using CPF to buy a home means you will have lesser savings in future. Why? Do…
Are you considering to upgrade to a condominium? Here are some things to note before deciding on a freehold or leasehold unit. Appreciation Rates Do you know that in general, leasehold properties have appreciated by an impressive 86.7% over the past decade whereas freehold condominiums are lagging behind at 60.8% which could be attributed to…
Are you engaging a property agent to purchase or sell your house? Here are 4 things to consider before you engage one! 1) Check if your agent is registered All property agents are to be registered with the Council for Estate Agencies (CEA) through a licensed property agency and each of them is given a…
Ethnic Integration Policy (EIP) was introduced in 1989 to ensure a balanced mix of ethnic groups in the HDB estates, and to prevent formation of racial enclaves. It seeks to allow residents of different ethnicities to live together and interact on a regular basis in public housing where 80% of the population lives. How does…
Step 1: Decide financially whether you’re ready to buy a new home. Be sure of your Total Debt Servicing Ratio (TDSR) limits and monthly commitments! Step 2: Once you’ve decided on a new home, start to work on the timeline on when you can move in. Decide on the financing options (HDB or bank loan),…
The Singapore Overnight Rate Average (SORA) is the volume-weighted average rate of borrowing transactions in the unsecured overnight interbank SGD cash market in Singapore between 8am and 6.15pm. What are some of the benefits of SORA? It is a robust benchmark underpinned by a deep and liquid overnight interbank funding market. It has been published…
Deputy Prime Minister and Finance Minister Heng Swee Keat said that the Government is paying “close attention” to the local real estate market “to ensure that it remains stable”. As the economic outlook remains very uncertain, he added, “we do not want to see the property market run ahead of the underlying economic fundamentals”. Hence…
Floating Rates Pegged to Singapore Interbank Offer Rate (SIBOR), Board Rate or Fixed Deposit Home Rate (FHR) Comparably more volatile as it is subject to revisions and market fluctuation. You can enjoy added savings if interest rates were to dip, but also risk paying more when interest rates rises Banks will typically give a 30-day…