Buying a Singapore Property

The population of Singapore is ever increasing and it looks to be obvious that buying a property will always give you good returns. However, I need not tell you particularly that the price of homes is fluctuating and timing is becoming more and more crucial. So, if you are wondering: should I buy? or shud i not....read on.

The best option for a first time buyer is ofcourse to buy direct from HDB, either through the half yearly sale or the BTO etc...coz we can stay with our parents until the property is ready for occupation. And when u r buying from HDB, timing isint a big deal really. Just buy it and stay there for 5+ years. Even if you have money to buy a condo, i recommend buying a HDB (as long as you are eligible - under 8k salary) and keeping it. If ever you have more money, you can consider buying a condominium.

I am not recommending you to buy a condo by selling your HDB - that according to me wud be the most foolish thing to do ever. You may think you want to sell ur HDB coz u think the price has increased, but think again. Did you give advance payment for a condo abt a year ago when prices were low? or do you want to book a condo now? HDB prices increased means most likely condo prices also have increased. It wud be foolish to put ur HDB for sale and start looking for a bigger HDB or a condo coz you are are simply paying 1%+2% buying selling fee to the property agent. So, even before u started, you shoud account for a "roughly" 3% loss.

It is just like the stock market. You want to keep on buying/selling the stocks/property. The person who really gains is the share broker/property agent. A golden rule in property/stocks is this: You can buy/sell only when you have a primary property for staying. As for stocks, you should have 60-75% of you investment in good stable stocks and the remaing for trading (buying/selling).

Your friends may have done it, your colleagues may have done it. They have done it doesnt mean you must do it. I recommend changing the house/upgrading only for SERS. You can buy a second property if you have the money and want to make an investment.

A word of caution: flipping property is for high fliers, the very rich who dont care if there is a slump for a short while or for the property agent who has a little more money coz he neednt pay the agent fees.

A final word: If you are considering to buy a condo and thinking -- the stock market has increased and property market is also increasing by looking at the increased sales, then i wud like to suggest the following. If you are buying it as your primary property, do go ahead and buy it coz the prices may fall another 5% at the most and this loss wud only be a paper loss. So you need not really care - in the long term it wud be a good decision. If you are a property trader, you are better off waiting until nov/dec 2009 - buyjust b4 christmas.