New Reporter
05-11-21, 11:55
Upgrading choices
EdgeProp Singapore
November 5, 2021
SINGAPORE (EDGEPROP) -- When it comes to owning property in Singapore, having a private address is still seen as a status symbol. Some even see it as a means to chalk up wealth. But when it comes to owning your first home — whether it is a HDB build-to-order (BTO) flat, resale flat, condominium or landed property — that very much depends on several factors like eligibility and financial resources, says Thomas Tan, COO of agency business at ERA Singapore.
He was speaking at the ERA x EdgeProp: Does It Make Sense To Upgrade Now For The Future? webinar on Nov 1.
For young couples starting out — especially if they have little cash savings — HDB BTO flats are a good choice, as HDB could provide a loan of up to 90% loan-to-value ratio. The remaining 10% coming from their Central Provident Fund (CPF) account, he adds.
With BTO flats, however, Tan says couples will have to wait up to five years before they can get the keys to their new home due to the time taken for construction.
Read more at: https://www.edgeprop.sg/property-news/upgrading-choices
EdgeProp Singapore
November 5, 2021
SINGAPORE (EDGEPROP) -- When it comes to owning property in Singapore, having a private address is still seen as a status symbol. Some even see it as a means to chalk up wealth. But when it comes to owning your first home — whether it is a HDB build-to-order (BTO) flat, resale flat, condominium or landed property — that very much depends on several factors like eligibility and financial resources, says Thomas Tan, COO of agency business at ERA Singapore.
He was speaking at the ERA x EdgeProp: Does It Make Sense To Upgrade Now For The Future? webinar on Nov 1.
For young couples starting out — especially if they have little cash savings — HDB BTO flats are a good choice, as HDB could provide a loan of up to 90% loan-to-value ratio. The remaining 10% coming from their Central Provident Fund (CPF) account, he adds.
With BTO flats, however, Tan says couples will have to wait up to five years before they can get the keys to their new home due to the time taken for construction.
Read more at: https://www.edgeprop.sg/property-news/upgrading-choices