{"id":56011,"date":"2017-05-26T07:30:17","date_gmt":"2017-05-26T00:30:17","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/investing-for-singles\/"},"modified":"2017-05-26T07:40:23","modified_gmt":"2017-05-26T00:40:23","slug":"investing-for-singles","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/investing-for-singles\/","title":{"rendered":"Investing for singles"},"content":{"rendered":"


\nFor the fourth consecutive year, Singapore is the world\u2019s most expensive city, outranking Hong Kong and Zurich which came in second and third respectively.
\nThe Economist Intelligence Unit\u2019s cost-of-living survey has consistently ranked Singapore as the world\u2019s most expensive city. Although housing can be rather pricey, it\u2019s still possible for singles to secure a home by taking advantage of various grants and financing options.
\n1. Apply for grants<\/p>\n

The supply of HDB flats increased from 880,000 units in 2006 to 1.01 million units last year. As such, singles have more options to purchase public housing through the HDB\u2019s two main eligibility programmes \u2013 the Joint Singles Scheme (JSS) and Single Singapore Citizen Scheme (SSCS). Under these schemes, eligible singles can apply for grants when purchasing a two-room Flexi flat in a non-mature estate. If you\u2019re a first-time buyer who is 35-years-old and above, you may qualify for the Additional CPF Housing Grant (AHG) and Special CPF Housing Grant (SHG) of up to $20,000, depending on your income. Other factors taken into consideration when assessing eligibility for the JSS and SSCS are past and current property ownership and citizenship status.
\n2. \u00a0Alternate financing options
\nInvesting in property on a single income can be challenging, but with proper research, you can find different ways to fund your real estate purchase. Other than taking an HDB or bank loan, consider pooling your resources with up to three single friends. With the combined cash and Central Provident Fund (CPF) savings, barriers-to entry on owning a property are less. Naturally, precautions must be taken in terms of the long-term goals of each investor because plans may change. Additionally, charges such as the Seller\u2019s Stamp Duty may apply if the investment property is disposed within three years.
\n3. Apt property deals
\nIncreasingly, developers are offering various discounts and marketing schemes like Deferred Payment Schemes, where you can own a property with minimal cash down and immediately take possession to start renting out, with the option to purchase 18 or 24 months later. You may be tempted to take advantage of such offerings, but do your due diligence before committing to any property purchase. Find smart deals by studying the market and reading up on developers and their past projects.
\n\u00a0
\n\u00a0<\/p>\n

This article was first published in the print version PropertyGuru News & Views. Download PDFs of full print issues or read more stories now!<\/p>\n


\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Investing for singles<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

For the fourth consecutive year, Singapore is the world\u2019s most expensive city, outranking Hong Kong...<\/p>\n","protected":false},"author":1,"featured_media":56012,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-56011","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/05\/footer_011-1.gif?fit=710%2C9&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-ezp","jetpack-related-posts":[{"id":45327,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/get-the-guru-view-swinging-home-ownership-for-singles\/","url_meta":{"origin":56011,"position":0},"title":"Get the Guru View: Swinging home ownership for singles","date":"February 24, 2017","format":false,"excerpt":"\r For many singles, home ownership provides independence and privacy With the vast majority of housing policies focused on marriage and families, singles often feel left out. At the same time, price levels in the private market have prevented many with single incomes from entering it, or limited options towards\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/02\/Prices-and-volume-for-smaller-apartments-by-region-1024x658.jpg?fit=1024%2C658&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":120536,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-may-see-more-smaller-homes-shorter-lease-units-experts\/","url_meta":{"origin":56011,"position":1},"title":"Singapore may see more smaller homes, shorter-lease units: Experts","date":"July 8, 2021","format":false,"excerpt":"\r Singapore may see more smaller homes, shorter-lease units: ExpertsSmaller household growth and an ageing population could see more smaller homes with shorter leases in the future. Singapore\u2019s future housing landscape may feature more smaller homes with shorter leases, on the back of the growing number of smaller family units,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/07\/punggol-hdb-flat.jpg?fit=820%2C411&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":114503,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-to-offer-more-two-room-flats-in-may-and-august-sale-exercises\/","url_meta":{"origin":56011,"position":2},"title":"HDB to offer more two-room flats in May and August sale exercises","date":"February 25, 2020","format":false,"excerpt":"\r The upcoming BTO exercises in Tengah, Choa Chu Kang and Woodlands will offer more two-room flats for singles 35 years old and above.\u00a0 HDB will offer more two-room Build-To-Order (BTO) flats in Tengah, Choa Chu Kang and Woodlands as more singles acquire homes following a rule change in 2013,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":41829,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/single-and-eligible\/","url_meta":{"origin":56011,"position":3},"title":"Single and eligible","date":"January 25, 2017","format":false,"excerpt":"\r Established in 1990, the Joint Singles Scheme aims to help Singaporeans aged 35 and above to jointly purchase a flat. The longstanding HDB rule that singles below the age of 35 cannot own HDB flats is well known. But if you and a friend, sibling or partner are already\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":55997,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/same-dreams-different-struggles\/","url_meta":{"origin":56011,"position":4},"title":"Same dreams, different struggles","date":"May 26, 2017","format":false,"excerpt":"\r (L-R): Olivia Chiong and her wife Irene Chiong, with their two daughters. A growing number of individuals in Singapore\u2019s LGBT community, including singles and same-sex couples, are voicing\u00a0their opinions over what they feel are unfair housing policies geared towards heterosexual couples. Several of them spoke\u00a0candidly with us about the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/05\/Cover-Story-1.jpg?fit=438%2C583&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":123361,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/higher-demand-for-bto-flats-due-to-hike-in-marriages-more-people-choosing-to-have-own-flat\/","url_meta":{"origin":56011,"position":5},"title":"Higher demand for BTO flats due to hike in marriages, more people choosing to have own flat","date":"November 22, 2021","format":false,"excerpt":"\r The overall number of BTO flat applications in 2020 was 87,800, up from\u00a038,500 in 2018\u00a0and 51,400 in 2019. Singapore saw demand for Build-to-Order (BTO) flats more than double from 2018 to 2020, with the overall number of flat applications rising from 38,500 in 2018 to 51,400 in 2019, before\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/11\/hdb-singapore.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/56011"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=56011"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/56011\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/56012"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=56011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=56011"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=56011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}