Discover

The standard security deposit is one month's rent per 12-month lease, usually stated in the Letter of Intent and payable upon signing the Tenancy Agreement; negotiate with the landlord for any exceptions.

For a monthly salary of $9,000, consider new condos in the Outside Central Region (OCR) priced around $1.958 million or smaller units in the Rest of Central Region (RCR) costing between $1.38 million and $2.7 million. Monthly repayments range from $7,100 to $8,500. Financial planning and additional costs like downpayment and stamp duties should be factored in.

In Singapore, average condo maintenance fees range from $300 to $700 per month, with an average of around $400 per month. These fees cover services like security, cleaning, landscaping, common area upkeep, administrative expenses, utility costs, and insurance. Larger units with more amenities tend to have higher fees.

At 33 years old, you can take a loan with a tenure up to 25 years for HDB flats (max LTV of 75%) or up to 32 years for private properties, ensuring loan tenure plus your age does not exceed 65. These rules are subject to MAS regulations and bank approval.

HDB loan interest rates have been stable at 2.6% per annum over the past decade, fixed at 0.1% above the CPF OA rate. Bank loan rates, influenced by SIBOR and SORA, have fluctuated with market conditions, sometimes lower than HDB rates during low-interest periods, but potentially higher when market rates rise.

Private property prices in Singapore are not expected to drop in 2025. Factors include limited new completions, strong demand, economic recovery, and high investor confidence. Prices are projected to rise by 3-4%, with potential increases up to 4.5%. Prime areas will see upward pressure.

Seller's Stamp Duty (SSD) is based on the selling price or market value at time of sale: 12% if sold within 1 year, 8% within 2 years, 4% within 3 years, and 0% if sold after 3 years.

The selling price of a three-year-old condo unit is based on its current market value, not the original purchase price. Factors influencing the current selling price include the property's condition, recent sales of similar units, market conditions, professional appraisals, and negotiation between seller and buyers.