Animian Clutched July 6, 2012 Share July 6, 2012 Just wondering , with the property going up north , at what combined income do you think an average Singapore can afford a Pte property > $1.2m comfortably ? EC > $1m for combined income of 12k is it too pushy / risky ? ↡ Advertisement Link to post Share on other sites More sharing options...
Viceroymenthol 6th Gear July 6, 2012 Share July 6, 2012 $10 million a year. Link to post Share on other sites More sharing options...
Viceroymenthol 6th Gear July 6, 2012 Share July 6, 2012 Just wondering , with the property going up north , at what combined income do you think an average Singapore can afford a Pte property > $1.2m comfortably ? EC > $1m for combined income of 12k is it too pushy / risky ? You want to spend the rest of your life in debt, go ahead! :) Link to post Share on other sites More sharing options...
Viceroymenthol 6th Gear July 6, 2012 Share July 6, 2012 Just wondering , with the property going up north , at what combined income do you think an average Singapore can afford a Pte property > $1.2m comfortably ? EC > $1m for combined income of 12k is it too pushy / risky ? This kind of thread sure Kenna whack left right centre behind etc Link to post Share on other sites More sharing options...
Vid Hypersonic July 6, 2012 Share July 6, 2012 This kind of thread sure Kenna whack left right centre behind etc No lah. I will whack only left right. Centre too painful Link to post Share on other sites More sharing options...
Iamtherealsabbie Neutral Newbie July 6, 2012 Share July 6, 2012 All the elites will start coming in to give you a peace of their mind! Link to post Share on other sites More sharing options...
Animian Clutched July 6, 2012 Author Share July 6, 2012 I not stupid lah my benchmark is 20k and I still find it risky I just find it weird why some people can go around tell people They own a 1m ++ EC when their combined is just 10k how to afford !!! Link to post Share on other sites More sharing options...
Vid Hypersonic July 6, 2012 Share July 6, 2012 I not stupid lah my benchmark is 20k and I still find it risky I just find it weird why some people can go around tell people They own a 1m ++ EC when their combined is just 10k how to afford !!! $20k too risky loh. You need at least $30-$40k. Most people stay condo will also take high loan for cars. Don't end up becoming a slave to your assets. Link to post Share on other sites More sharing options...
Animian Clutched July 6, 2012 Author Share July 6, 2012 $20k too risky loh. You need at least $30-$40k. Most people stay condo will also take high loan for cars. Don't end up becoming a slave to your assets. That's why I said it is risky too. The best is have a Property to collect rental for another property Still workin hard for the 1st property but the 8 character one stroke also Don't have :( that's why I find those pple with income only 10k very gutsy Link to post Share on other sites More sharing options...
Sabian Turbocharged July 6, 2012 Share July 6, 2012 (edited) Just wondering , with the property going up north , at what combined income do you think an average Singapore can afford a Pte property > $1.2m comfortably ? EC > $1m for combined income of 12k is it too pushy / risky ? 20k. Diamond ricebowl. You and dependants cannot kenna chronic illness. Financially disciplined, no impulse buys. No vices. Edited July 6, 2012 by Sabian Link to post Share on other sites More sharing options...
SimonTan 2nd Gear July 6, 2012 Share July 6, 2012 In theory, if no kids and no obligation, then a combined salary of $12,000 will be able to afford a $1.2million condo. $1million loan monthly about $5k installment. The issue in Singapore is not about affordability.....it's the upside of the properties increase in value. A $1.2million property will worth $2million in five years time. So the issue of affordability is moot as one can sell it off easily for a huge profit. Link to post Share on other sites More sharing options...
GoodCar 4th Gear July 6, 2012 Share July 6, 2012 Combine income 12k than slave for thirty years. children how, sure got this type of income for.the.next.thirty years,? Keep it simple and realistic.HDB als can look very nice with some good reno. Just my two cents worth. Link to post Share on other sites More sharing options...
SimonTan 2nd Gear July 6, 2012 Share July 6, 2012 Just play the game while you are young and not obligation. If lucky properties appreciate by 60% within 5 years, can sell off, and buy HDB, then start a family comfortably!! If don't play the property game.....wait until old and high income....it may be too late as many will not dare to take as much risk for fear of bankruptcy. Better to Start young, bankrupt at least will not affect family or kids. Link to post Share on other sites More sharing options...
Iamtherealsabbie Neutral Newbie July 6, 2012 Share July 6, 2012 I not stupid lah my benchmark is 20k and I still find it risky I just find it weird why some people can go around tell people They own a 1m ++ EC when their combined is just 10k how to afford !!! Why not? I only earn >5K a month and just bought a >1million property on my own! Link to post Share on other sites More sharing options...
Kiadaw 6th Gear July 6, 2012 Share July 6, 2012 I not stupid lah my benchmark is 20k and I still find it risky I just find it weird why some people can go around tell people They own a 1m ++ EC when their combined is just 10k how to afford !!! Because many Singaporeans see property as an sure win investment hence, pushing beyond their means to get it. Link to post Share on other sites More sharing options...
SimonTan 2nd Gear July 6, 2012 Share July 6, 2012 I also think properties is sure win within this five years. Tomorrow going to Hillier for my free lunch. Thinking I am ready to negotiate with the agent. Link to post Share on other sites More sharing options...
Yattokame 4th Gear July 6, 2012 Share July 6, 2012 I have a friend. his income about 6-7k a month. his wife sometimes work, but after a while will quit, then work again, then quit again. very unstable working pattern. has 3 kids and he needs to feed his mum. made money on his HDB about 300k. die die wanna stay in condo. stretch until dunno like what go and buy EC in punggol. I advised him against it but it's his money. I thought he has cash buffer from the sale proceeds of his HDB; end up he needed the money to pay off his unsecured loans and STILL WENT TO BUY A CAR. now modify the car like mad and spend even more money. I really hope they can pull thru. Link to post Share on other sites More sharing options...
Iamtherealsabbie Neutral Newbie July 6, 2012 Share July 6, 2012 I also think properties is sure win within this five years. Tomorrow going to Hillier for my free lunch. Thinking I am ready to negotiate with the agent. Congrats, hope you put your foot where your mouth is, like me. ↡ Advertisement Link to post Share on other sites More sharing options...
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