Hi all. I am a longtime reader of the forum and only just decided to register for an account to post.
I guess you could call me one of those MTB people.. only started work in 2009. Since then I've been saving diligently but watching helplessly as housing prices climb and climb.
I know most Singaporeans use HDBs to build up their cash reserves. Unfortunately, I am single and have no way of buying HDB for another 6-7 years and even then it's going to be resale.
At the moment I am considering purchasing a 1mil to 1.3mil property for investment with my savings + some small help from parents. Hopefully then I can sell if after a few years for a profit and use the money to comfortably afford something for own stay.
Any advice from experts here on the plan? Or should I just forget it and research on investing stocks and shares instead?
I've been looking around at both resale and new launches and can't find anything within budget and a good investment. I am not sure if it's because of my expectations - I've read the posts on the forum and see a lot of advice that says that a "good" investment means that rental yield or capital appreciation shouldn't be below xx%, but with prices the way they are, is it really possible nowadays? E.g. I went to look with a friend (just to kaypoh, not for myself) at a resale 2BR condo that was asking for 1.7mil, tenanted at $5k. With prices at that range, would it really still be possible to profit?
I am not looking for easy answers or spoonfeeding - I've been doing a fair amount of research but coming up short. A little help to point me in the right direction would be greatly appreciated!